Hmlet
Coliving operator based in Tokyo, Japan, operating across Asia-Pacific.
About Hmlet
Hmlet is a flexible furnished rental brand in Asia Pacific. It was founded in Singapore in 2016 by Yoan Kamalski and grew into one of the region's best known coliving operators before merging with Habyt in 2022. Its Japanese business took a separate path: Hmlet Japan was set up in October 2019 as a joint venture between Mitsubishi Estate and the Singapore company, became a wholly owned Mitsubishi Estate Group company in 2022 and expanded from Tokyo to Osaka in 2025. In April 2026 the two halves came back together. FL Japan Holdings, the Mitsubishi Estate company that owns Hmlet Japan, bought all shares of Habyt Pte. Ltd., Habyt's Asia Pacific business. The deal added 829 units in Singapore and 232 in Hong Kong. Yoan Kamalski, who had joined the Hmlet Japan board in April 2025, now leads the acquired Singapore and Hong Kong business as CEO. Including Blueground Japan, which the same group also runs, the combined Asia Pacific portfolio was 2,927 units at the time of the deal, of which Hmlet Japan accounted for about 1,600. The group has said the acquisition supports continued growth of the Hmlet brand across the region. Hmlet rents fully furnished apartments and rooms, booked online. In Japan, stays run from one month up to two years, with renewal possible depending on availability. The target residents are overseas business staff, international students and researchers, remote and nomadic workers, and people relocating to a new city. Couples and families can also stay in suitable units. Hmlet is backed by one of Japan's largest property developers, which gives it access to a steady supply of buildings and makes it one of the more financially secure flexible living brands in the region. Status: active as of November 2026 in Tokyo and Osaka, plus Singapore and Hong Kong through the former Habyt APAC business. The headquarters field reflects the Tokyo based parent group.
How the master lease model works
Under a master lease, the operator signs a long lease with a landlord, then sublets rooms as coliving. It is capital-light and fast to scale because the operator does not buy the building, but it carries the rent whether rooms are full or not, so occupancy discipline and a healthy spread between the head rent and the room revenue are everything.
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Profile compiled by Everything Coliving from public information. Operator data can change: verify current details directly with the operator.
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