Syamil Faisal 9 Oct, 2019
The Singapore co-living firm, Hmlet partners up with Japanese real estate developer, Mitsubishi Estate Co, Ltd (MEC) which sees a combined investment of $25 million for its expansion.
Japan will be the largest market for Hmlet with 1,000 rooms to be signed in the next 6 months, and another 10,000 rooms in the coming years as it looks to reach cities like Osaka and Nagoya.
The $400 million Series B funded firm will adorn its properties with myriad of studio and duplex configurations, and communal rooftop for the co-living community.
Hmlet will have access to MEC’s pipeline of existing and in-development premium residential buildings, and the opportunities to collaborate with other Japanese real estate developers.
Kenichi Sasaki, CEO of Hmlet Japan, said:
“While co-living spaces are a relatively new concept in Japan, we believe our model will meet today’s demands around accommodations, including an increasingly mobile workforce and professionals that travel domestically for work.”