LiveIn Announces Strategic Alliance with Hive to Address Affordable Housing Crisis in Southeast Asia
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 12 December 2024 - LiveIn, Southeast Asia's leading end-to-end long-stay provider dedicated to converting surplus properties into modern homes for young people, is excited to announce a strategic alliance with Hive Quarters and Hive Builders.
Part of a series of partnerships by LiveIn to tackle the region's urgent affordable housing crisis, this collaboration aims to leverage both companies' strengths in renovation and property management.
LiveIn @ Astoria Ampang, renovated by Hive Quarters
Established in 2015, LiveIn is Southeast Asia's largest affordable long-stay rental provider, addressing the housing crisis faced by 60 million young people moving to new cities by transforming surplus properties into modern homes. It operates close to 10,500 rooms with 90% average occupancy in Malaysia, Thailand, Vietnam, and Indonesia by offering fully furnished accommodations for around US$200 per month. Backed by global investors, LiveIn boosts rental yields for property owners through tenant management and design services and generates over 20% of its revenue from non-rental offerings like maintenance and fitness to continue improving tenants' living experiences. Its meteoric rise and exciting prospects recently earned it a spot on the Forbes Asia 100 to Watch list in August this year.
Hailing from the same industry, Hive has been at the forefront of revolutionizing long-stay solutions for seven years, providing a unique blend of expertise in renovation, innovative rental strategies, and exceptional property management services across Kuala Lumpur and Selangor. This partnership will enhance LiveIn's capabilities in providing vibrant living spaces catering to urban youth's needs.
In addition, Hive Builders, a leader in renovations consistently recognized by developers and group investors in the region, will form the new LiveIn Global Renovation Division. This division will enable LiveIn to offer comprehensive value and solutions, executing innovative global standards throughout LiveIn offerings.
"This alliance with Hive marks a significant step forward in our mission to create affordable, modern living spaces for young people in Southeast Asia. With Hive's deep expertise in renovations, we will form our LiveIn Global Renovation Division, allowing us to offer carefully curated environments tailored to encourage growth and new experiences," said Keek Wen Khai (Khai), CEO and Co-founder at LiveIn. "By combining our expertise in end-to-end rent management with Hive's established presence and innovative renovation capabilities, we will be the only end-to-end provider from owner to tenant and community building in the market."
"We have enjoyed a long-standing and mutually beneficial relationship with LiveIn, partnering with them to transform their products into modern and beautiful homes. This alliance is a natural step for both of us, as it will enable us to focus on our core strengths to go to market more effectively," said Mike Tiu, CEO at Hive Quarters. "We look forward to writing this exciting new chapter to elevate our value further as a trusted partner for property investors."
The partnership is expected to accelerate LiveIn's growth and expand its portfolio, ultimately providing more affordable housing solutions and enriching the community for young urban dwellers.
Hashtag: #LiveIn #AffordableHousing
The issuer is solely responsible for the content of this announcement.
LiveIn
LiveIn is dedicated to converting surplus properties into affordable, modern homes for young people across Southeast Asia. Driven by a mission to shift the fundamental way young people live and empower them to dream boldly, LiveIn operates 10,500 rooms in four countries, fostering vibrant communities for urban youth.
Hive Quarters and Hive Builders are leaders in the co-living space, providing innovative solutions and renovations that cater to the evolving needs of urban dwellers. Together, they aim to redefine affordable living in Southeast Asia.
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