Co-living startup Hmlet expands to Japan

Its first property, Hmlet Shibuya Shoto, will launch in mid-October.

Hmlet is expanding to Japan through a $34.5m (US$25m) partnership with real estate developer Mitsubishi Estate (MEC), according to a press release.

Also read: Co-living operator Hmlet launches 150-room facility

Through this venture, MEC will source properties whilstvHmlet will oversee the design and community management. Mitsubishi Estate Residence (MER), which is fully owned by MEC, will be Hmlet’s real estate partner in the country.

Hmlet’s Shibuya property will feature a range of studio and duplex configurations as well as a communal rooftop.

The company plans to sign in more than 1,000 rooms in the next six months, with aims for expansion to Osaka and Nagoya in the pipeline.

Hmlet’s entry to Japan comes shortly after the company raised $55m (US$40m) in a Series B round led by Burda Principal Investments in July 2019. MEC also invested in Hmlet’s latest Series B funding round.