- LHN (SGX:41O)'s operational metrics for 1QFY25 were healthy. The occupancy rate of over 95% for all the properties, an additional 45 keys for Coliwoo to 2,586 keys and securing 29 new facilities management contracts. LHN food chain factory has been launched and sales of the 49 units are underway.
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Key Highlights
Coliwoo operationally strong.
- For 1QFY25, Coliwoo added one property or 45 keys with the addition of 453 Balestier Road. Occupancy rate of Coliwoo was not disclosed but we expect it to be above 95%. Demand from international students, corporate travel and foreign working professionals remains healthy. Average stay is six to nine months. The rising population in Singapore is a macro driver of demand.
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- The next launch will be Coliwoo Fire Station (Upper Bukit Timah), which could be rented for more than S$3,000 per month because of the nearby MRT and nature reserve. LHN is currently exploring co-living opportunities in Southeast Asia.
Next evolution of Coliwoo.
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