While most co-living operators in Singapore have an asset-light strategy, Weave believes in owning assets. “Our business model is very different and the barrier to entry is high. We are a lifestyle company, but we believe in owning real estate,” says the 40-year-old Doshi.
SINGAPORE (June 24): Hong Kong-based Weave Co-Living, a lifestyle-focused rental accommodation provider, is making its debut in Singapore with a planned investment of $500 million. It has found a partner in Singapore-based fund management firm 32RE. Weave will hold an 80% stake in the joint venture, while funds managed by 32RE will hold the balance 20%. Together, both partners are committing a total equity of $150 million.
“I believe Weave will provide a breath of fresh air to the rental market and co-living scene in Singapore,” says Sachin Doshi, founder and chairman of Weave.
