Singapore-based co-living company expands to Hong Kong via acquisition

Co-living company Hmlet today announced its acquisition of Hong Kong co-living startup, we r urban— a deal that marks the company’s expansion into the Hong Kong market.

we r urban currently manages a portfolio of 30 co-living spaces, housing 70 members across 15,000 square feet in Hong Kong Island. Following the acquisition, Hmlet plans to more than double the number of members in the city by the end of 2018.

Hmlet was founded in 2016 with the vision of reinventing the way people live by responding to the needs of a mobile millennial workforce.

“Hong Kong is a natural next move for Hmlet, and this investment allows us to impact millennials across Hong Kong, allowing them to grow, scale and succeed.” said Yoan Kamalski, CEO and Co-Founder at Hmlet. “We are excited to have found an equal who shares our thinking on the importance of space, community, culture and technology.”

we r urban was founded in 2014 as the first co-living concept in Hong Kong. Two of its top management, Director of Real Estate and Renovation Dominik Wiesent and managing director Pauline Wetzer will remain in their current positions following the acquisition.

“We’re thrilled to be working with Hmlet and look forward to growing the business in Hong Kong. We could not imagine a better company to partner with to further the success of co-living in the market,” said Wetzer. — Construction+ Online