Real estate management services company, LHN Group, has released its 3QFY2024 business updates, citing a “robust” momentum in its core business segments.
As at June 30, LHN has achieved overall occupancy rates of over 90%, which spans across its portfolio of industrial, commercial and Coliwoo co-living properties.
The group has also secured 2,401 keys within its co-living Singapore projects, comprising master lease projects and owned or joint ventures at 1,851 keys and 550 keys, respectively.
In 3QFY2024, LHN has since secured 28 new facilities management contracts.
Moving forward, the group has launched several new projects which include properties at 268 River Valley and 288 River Valley.
Both projects offer a combined total of 69 keys and are set to operate in 4QFY2024. Another project at 48 & 50 Arab Street, which will add 26 keys to the group, is expected to become operational in 1QFY2025.
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Other projects in the group’s pipeline include a property development project in a food processing industrial development at 55 Tuas South Avenue 1. The group is currently in the midst of obtaining a Temporary Occupation Permit and the property is expected to be ready for sale in September 2024.
Within its energy business segment, the group has achieved a total solar energy capacity of 6 megawatts as at June 30.
It has also secured a new contract to install and operate electric vehicle (EV) charging points as well as three solar energy contracts with a combined capacity of approximately 0.8 megawatts.
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As at June 30, the group is operating 17 EV charger points as well as over 25,000 car park lots in Singapore and over 1,000 lots in Hong Kong.
Shares in LHN Group closed flat at 33.5 cents on Sept 3.
