Asia’s fastest-growing co-living operator Hmlet launches 50th location in Hong Kong
Hmlet Hong Kong’s largest dedicated facility to date, Hmlet Zion Apartments,
opens this November in Mong Kok
(10 October 2019 – Hong Kong) Hmlet, Asia’s fastest-growing co-living operator, is set to launch Hmlet Zion Apartments in Mong Kok this November, the brands largest dedicated facility in Hong Kong to date. Located on Portland Street, the new opening is the company’s 50th location in the city, making Hmlet the most widely located co-living company in Hong Kong.
The continued investment in the market responds to the demand of mobile professionals who natively live in the shared economy, a movement that has been quickly embraced in Hong Kong. This group of predominantly millennial professionals have been quick to adopt Hmlet’s long-term co-living solution which offers affordable, flexible and secure contracts.
Hmlet has expanded its portfolio of properties and member base by 300 percent in the last year, demonstrating the strength of their unique business model that provides custom designed home and like-minded community living. The 50 locations spread across Hong Kong vary from studios and multiple room apartments in privately owned buildings, to dedicated facilities with all apartments serviced by Hmlet.
“We’ve seen our philosophy and operational model resonate with the Hong Kong market since our launch. With a 95 percent occupation rate in Hong Kong, we have currently secured 250 rooms, and intend to grow to 400 by the end of this year. With both expats and internationally minded locals demonstrating enthusiasm for community-orientated and flexible living, we are committed to continued expansion in the city and are targeting to operate more than 1,000 rooms in the city by the end of 2020,” says Yoan Kamalski, CEO of Hmlet.
The new opening comes just months after the brand raised US$40 Million in a Series B round led by Burda Principal Investments, which has allowed Hmlet to continue bridging gaps in demand for affordable, flexible and secure living solutions in cities where housing is becoming increasingly more expensive. In Hong Kong, the funding is being used to create diverse living options that welcome professionals and young families alike, whilst also combating loneliness. Further expansion across the city is in the pipeline, with a third dedicated facility opening in Tin Hau later this year.
From a global perspective the funding will support Hmlet’s growth across urban cities in four countries, helping bring their unique business model that creates a better way of living for young working professionals to the cities that need it most. In 2019 the company has broadened its presence in Hong Kong, Singapore, Sydney, Tokyo, and soon-to-be Melbourne and Brisbane.
The 57 rooms at Hmlet Zion Apartments come in a variety of layouts, with options starting from HK$11,000 per month. To help alleviate the pressures of moving, each custom designed room comes fully furnished, beautifully designed and equipped with private appliances. As with all Hmlet properties, there are shared spaces that facilitate the ease of interaction among members, with a highlight of the Mong Kok property being a communal rooftop and barbecue space on the 27th floor, overlooking stunning views of the city. To further encourage connection and collaboration, all members are invited to regular community events, which range from Cantonese lessons with Hong Kong Language School, to parties and gatherings co-organised with partners such as Red Bull and Aperol.
Hmlet Zion Apartments is the brand’s largest dedicated facility in the territory, and the fourth largest across Asia Pacific. Opening in November 2019, the property takes the number of Hmlet locations in Hong Kong to 50, and 93 worldwide.
Hmlet’s journey began when founders Yoan Kamalski and Zenos Schmickrath were renting out rooms of their semi-detached home. Several tenants and a year later, they quickly realised that their home became more than just a roof to live under – it became a space where friendships were forged.
Since its launch in 2016, Hmlet has become the fastest growing co-living operator in Asia Pacific. With more than 90 locations in Singapore, Hong Kong, Australia and Japan, Hmlet has plans to operate 2,400 rooms by the end of 2019. Responsive to the needs of the mobile workforce, Hmlet members can enjoy flexible leases, serviced rooms and community perks with monthly events, and other lifestyle benefits.
Hmlet landed in Hong Kong in July 2018, and is currently the widest spread co-living operator in the market.