Real estate management services company LHN Group added 45 new keys in a Balestier property and 29 new facilities management contracts, according to its 1QFY2025 business update.
The group manages 2,915 keys across its Coliwoo co-living projects in Singapore and 85 SOHO projects overseas as at Dec 31, 2024 compared to the 2,895 keys reported in the quarter prior.
As at end Dec 2024, the group’s overall occupancy rates were at 95%.
For its facilities management business (FM), the group secured 29 new contracts and re-tendered 75 existing FM contracts.
The group’s carpark projects and lots stood at 100 car parks with over 27,000 lots in Singapore, and over 700 lots in Hong Kong as at Dec 31, 2024. The lots in Hong Kong are expected to cease operations upon the lease expiry by April 2025.
For its energy business, the group maintained its total solar energy capacity at 8.8 megawatt (MW). It has a total of 19 electric vehicle (EV) charging points as at Dec 31, 2024.
See also: Straits Trading Company posts shallower loss of $7.2 mil for FY2024
On its outlook, the group entered a joint venture with two partners on Feb 14 to acquire and redevelop property in Geylang, with a land area of 1,179.29 sqm. The building will be transformed into a strata-titled commercial building for retail and office use.
LHN has also issued six options-to-purchase for its newly constructed LHN Food Chain food factory at 55 Tuas South Avenue 1.
In FY2025, the group will be launching three new Coliwoo properties located at Arab Street, Balestier Road and Upper Bukit Timah Road. These projects, which include a hotel, a residence, and a serviced apartment, are situated in conservation, heritage, and city center areas, and will add over 130 keys to its current operations.
Two more Coliwoo projects at Middle Road and Armenian Street are set to be launched in the upcoming financial years.
The group says that it aims to increase its total solar energy capacity to 13MW in FY2025.
Shares in LHN Group closed flat at 46 cents on Mar 5.
