LHN (41O) Q3 2026 earnings summary

Executive summary

• 3QFY2026 update highlighted high occupancy across Space Optimisation assets, new Facilities Management contracts and expansion in co-living, carparks and renewable energy.

• Asset-light strategy advanced through proposed Coliwoo Midtown sale-and-leaseback and Golden Mile Tower carpark divestment, alongside a model spanning space optimisation, facilities management, energy and property development.

Financial highlights

• Coliwoo revenue recorded a 45.2% CAGR from FY2022 to FY2025; this is a historical growth measure, not a 3QFY2026 result.

Outlook and guidance

• Co-living pipeline totals 1,021 rooms: 380 at 159 Jalan Loyang Besar in 3QFY2026, 368 at 2 Changi Business Park Avenue 1 in 1QFY2027, 153 at 1 King George’s Avenue in 4QFY2027 and 120 at 50 Armenian Street in 1QFY2028.

• Targeting 4,000 Singapore rooms by end-2026 and 10,000 by 2030; Coliwoo Resort Changi opened in July 2026 with 380 rooms, and Hotel Changi Expo expansion is expected to open in 1QFY2027.

• Carpark pipeline totals 1,539 lots, with operations at The Index, Loyang Offshore Supply Base and Burlington Square expected to start in 4QFY2026; pursuing gateway-city growth through asset-light structures.

• Secured a five-year HDB retail consultancy contract covering consultancy, marketing and interim-tenancy administration, plus a rental contract for 55 Tuas South Avenue 1 commencing August 2026.