Singapore: Coliving operator Hmlet is rebranding as Habyt, and has appointed Jonathan Wong as its Asia-Pacific chief executive.
Wong takes over from Giselle Makarachvili, who led the startup through its merger with Berlin-based Habyt in April 2022. With a mandate to drive growth in the region, Wong has plans for Habyt Apac to at least double the size of its current portfolio over the next 12 months.
Habyt Apac currently manages more than 1,000 units across Singapore, Hong Kong and Japan, with an average occupancy rate of over 90 per cent.
“We’re looking to be very proactive, both within our current markets and expanding into new markets,” he said.
Target locations include Seoul, Jakarta and Bangkok.
Wong previously co-founded real estate business CloudKitchens Apac, where he was responsible for regional strategy and expansion. Prior to that, he headed Uber’s ride-sharing business in Singapore and Malaysia.
For Habyt’s growth to be successful, Wong said that it has to add value to both its real estate partners and clients. He is looking at lease structures that benefit both Habyt and the landlords, such as a hybrid of master lease and management contract.
On the client’s front, Habyt Apac’s mission is to make flexible housing accessible for everyone. “This means that we need to expand our breadth of offering from the more traditional coliving space to something which is a little more flexible and short-term in nature, and everything in between,” said Wong.
Wong also sees opportunities, such as a seamless relocation process for Habyt’s existing clients, in being part of a unified brand under Habyt’s global portfolio.
Following several mergers and acquisitions, including its latest merger with North American coliving player Common in January 2023, Habyt is now the largest coliving operator globally with more than 30,000 units across over 40 cities in 14 countries.
