The group's business model is rooted in space optimisation, which it had carved its niche in. This segment, apart from running the co-living business, provides spaces for commercial, industrial uses and storage facilities under its Work + Store business. The segment remains core to LHN's operations, contributing to about 70% of the overall group’s revenue.
DBS Group Research is giving some attention to LHN Group in an unrated report dated June 25.
Analysts Geraldine Wong and Derek Tan like the stock for being the market leader in Singapore's fast growing co-living space. "LHN’s residential concept ‘Coliwoo’ has become its main growth driver. Since it began in 2019, Coliwoo has added 2500+ keys in Singapore and 300+ keys overseas," they note.
