Summary:
- SGX-listed Coliwoo agreed to sell two River Valley Road co-living properties to Qing Feng Construction for S$45.8 million, with a three-year leaseback; the deal follows a recent S$134 million Midtown sale and aims to strengthen Coliwoo’s balance sheet as it pursues a 10,000-room target by 2030.
- The River Valley assets, freehold shophouses converted into 50 co-living rooms, sold below initial guide prices by 15 percent but above original purchase costs; the transaction requires shareholder approval due to its size, representing 21.7 percent of Coliwoo’s market capitalisation.
- Coliwoo’s portfolio includes 3,568 rooms across 28 properties, with strong occupancy rates supporting growth; recent expansions include the 380-room Coliwoo Resort Changi and a planned 368-room Hotel Changi Expo, reflecting diversification beyond urban co-living accommodations.
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