Lhn Group’s Co Living Business Coliwoo Holdings Lodges Preliminary Prospectus Mas

Located in Yishun, Miltonia Close EC Yishun boasts a prime location in the northern region of Singapore. Its strategic positioning allows for quick and easy access to major transport routes and public transportation options, making it incredibly convenient for residents who commute by train, bus, or private vehicle. This sought-after development offers the best of both worlds – a tranquil setting near the picturesque Seletar Reservoir and lush greenery, without compromising on convenience.

facilityFull text: Co-living business Coliwoo Holdings lodges preliminary prospectusBy Co-living business Coliwoo Holdings has filed its preliminary prospectus with the Monetary Authority of Singapore (MAS) for its planned listing on the Mainboard of the Singapore Exchange.Coliwoo’s venture into the co-living market is backed by LHN Group, a real estate services management company. Established in 2018, Coliwoo currently owns 25 properties in Singapore.The company has set a goal of expanding its portfolio to 4,000 rooms by the end of 2026, with plans to incorporate new developments, master lease agreements, and management contracts in order to achieve this growth. In preparation for its IPO, Coliwoo is currently working on new co-living projects and is exploring uncharted markets.AdvertisementAdvertisementThe gross proceeds raised from the planned listing will be utilized by Coliwoo to expand its co-living business through leasing properties in both existing and new markets, as well as through owned and joint ventures. The funds will also go towards repaying loans and facilitating general operations, which include manpower costs.In the first half of financial year 2025, Coliwoo maintained an average occupancy rate of over 95% for all of its properties. This was a significant increase from the same period a year ago and reflects the company’s strong performance in the co-living market. For the full financial year 2023, Coliwoo saw a revenue increase of 83.6% year-on-year, amounting to $28 million. This was mainly attributed to the addition of new properties to its portfolio, along with higher occupancy and rental rates across its co-living spaces.In the following financial year, Coliwoo saw a further increase of 86% in revenue, reaching $52.2 million. This was primarily due to three new properties that began generating revenue, a full-year contribution from two properties, a new facility services contract, and higher rental rates.However, the increase in revenue was offset by a 160.9% increase in cost of sales, amounting to $20.8 million. This was caused by site maintenance, higher rental expenses, and employee benefits as the business expanded. Despite this, Coliwoo still reported a profit of $31.6 million for the year.For the current financial year, half-year revenue has increased by 16.3%, reaching $23.1 million, thanks to the addition of new sites, full-period revenue contribution from one property, and higher occupancy in some other properties. Profit during this period grew by 14.8% year-on-year, reaching $9.6 million.Coliwoo’s cash and cash equivalents stood at approximately $28.4 million, with an indebtedness of around $252.5 million as of end August 2025. The company generated net cash from operating activities of $15.4 million and $10.6 million for financial year 2024 and the first half of financial year 2025, respectively.Coliwoo has attracted a range of cornerstone investors, including Albizia Capital, Avanda Investment Management, B&I Capital, ICHAM Master Fund VCC, Maybank Asset Management, Maybank Securities, UOB Asset Management, Value Partners Hong Kong, and Whitefield Capital Management.