Coliwoo Holdings Limited, a prominent co-living operator in Singapore, has announced the sale and leaseback of its properties at 298 and 288 River Valley Road. The transaction, valued at S$45.8m, involves selling the entire shareholding in its subsidiaries, Coliwoo RV1 Pte. Ltd. and Coliwoo RV2 Pte. Ltd., to Qing Feng Construction Pte Ltd. The deal, finalised on 30 September 2026, will see Coliwoo continue to operate the properties under its brand.
The sale is expected to generate net cash proceeds of approximately S$18.7m, which Coliwoo plans to reinvest in higher-yielding opportunities. All 50 rooms at the properties will remain operational under the Coliwoo brand, ensuring continuity for current residents.
Kelvin Lim, Executive Chairman and CEO of Coliwoo, stated, “Since our listing, we have built a scalable model: acquire and reposition properties, operate them under the Coliwoo brand and, where it creates value, sell and lease them back. The proposed sale of our two River Valley Road properties is the latest example. It allows us to realise our investment in the shophouses we transformed into co-living spaces, reduce our borrowings, and redeploy capital into higher-yielding opportunities, whilst the rooms remain in operation.”
This strategic move follows the recent completion of the Coliwoo Midtown sale and leaseback, further strengthening the company’s balance sheet. Coliwoo aims to enhance its financial flexibility as it works towards its ambitious goal of operating 10,000 rooms by 2030.
