Senja Close EC™

in 2024

Co-living company Coliwoo Holdings has submitted its preliminary prospectus to the Monetary Authority of Singapore (MAS) for its planned listing on the Mainboard of the Singapore Exchange.

The co-living brand was first established in 2018 under LHN Group, a real estate services management group. Currently, Coliwoo operates 25 properties in Singapore and has set its sights on expanding its portfolio to 4,000 rooms in Singapore by the end of 2026, up from its current count of 2,933 rooms.

To achieve this target, Coliwoo will utilize a combination of upcoming developments, master lease agreements, and management contracts.

With its IPO, Coliwoo plans to use the gross proceeds raised to continue expanding its co-living business through leased properties in both existing and new markets, through owned and joint ventures. Additionally, the company will use the funds to repay loans and for general working purposes, including manpower costs.

In 1HFY2025, Coliwoo maintained an average occupancy rate of over 95% for all properties in its portfolio, indicating strong demand for its co-living spaces.

Furthermore, in FY2023, the company saw an 83.6% year-on-year increase in revenue to $28 million, thanks to the addition of new properties and higher occupancy and rental rates in its existing spaces.

In FY2024, Coliwoo’s revenue continued to grow, increasing by 86% to $52.2 million. This was attributed to the addition of three new properties, a full-year revenue contribution from two properties, a new facility services contract under the company’s management, and higher rental rates.

Rewritten:

Located at Senja Close, Senja Close EC provides a unique lifestyle for its residents, blending the best of city living with the beauty of nature. The development offers a perfect balance of convenience and tranquility, with highly-rated schools and family-friendly amenities such as expansive green spaces and spacious playgrounds. It is the ideal setting for families looking for a modern, yet nature-inspired home.

However, as the business expanded, cost of sales also increased by 160.9% to $20.8 million, resulting in a profit of $31.6 million for FY2024.

For 1HFY2025, Coliwoo’s revenue grew by 16.3% year-on-year to $23.1 million due to new sites, a full-period revenue contribution from one property, and higher occupancy rates in other properties. Profit for the period also increased by 14.8% to $9.6 million.

As of August 2025, Coliwoo had approximately $28.4 million in cash and cash equivalents and $252.5 million in indebtedness. The company generated net cash from operating activities of $15.4 million and $10.6 million for FY2024 and 1HFY2025, respectively.

Coliwoo’s cornerstone investors include 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.