Seizing the Opportunity in the Era of 50 Million Inbound Visitors. Mitsubishi Estate Group's Hmlet Acquires Singapore and Hong Kong Operations of Flexible Living Major Habyt

Hmlet Japan Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director: Kenichi Sasaki) announces that its holding company, FL Japan Holdings Co., Ltd., has acquired all shares of Habyt Pte. Ltd. (hereinafter "Habyt APAC"), which operates flexible living businesses in Singapore and Hong Kong, from Habyt GmbH (Headquarters: Germany), making it a wholly-owned subsidiary.

With this acquisition, the total number of operating units for the three companies – Hmlet Japan (1,613 units), Blueground Japan (253 units), and Habyt APAC (829 units in Singapore, 232 units in Hong Kong) – reaches 2,927 units, establishing it as one of the leading Japan-headquartered flexible living operators in the Asia-Pacific region. Post-acquisition, Habyt APAC will be led by Yoan Kamalski, the founder of the former Hmlet company and a director of Hmlet Japan, as CEO.

■ Operating Properties in Singapore

Common area of an operating property in central Singapore, a flagship property in Singapore.

■ Background: After 6 Years of Growth in Japan, Moving to the Next Stage in APAC

Hmlet Japan was established in 2019 as a joint venture between Mitsubishi Estate Co., Ltd. and Hmlet Pte.Ltd. (Hmlet, now Habyt APAC) from Singapore. Focusing on "thorough simplification of contract procedures" and "creation of resident communities," it has spread flexible living as a new standard of living in Tokyo and Osaka.

The external environment has also been favorable, with the number of inbound foreign visitors setting new records every year since the COVID-19 pandemic. The increasing penetration of borderless work styles, including digital nomads, has led to a rapid expansion of demand for mid- to long-term foreign residents in Japan. With global movement of people becoming more active on an unprecedented scale, the company judged it to be the right time to expand the operations refined in Japan to the Asia-Pacific region, leading to this acquisition.

Singapore's Hmlet was integrated into Habyt GmbH (Germany) in 2022, becoming Habyt APAC. During this period, Hmlet Japan became a 100% owned subsidiary of Mitsubishi Estate Group, steadily continuing its growth by strengthening operations through digital product development. After expanding into Osaka in 2025, its operating units reached 1,613 as of April 2026. Furthermore, from April 2025, Yoan Kamalski, the founder of the former Hmlet company, assumed the position of director at Hmlet Japan.

This acquisition brings the Singapore-based Hmlet company, the "creator of the Hmlet brand" that Hmlet Japan co-founded with Mitsubishi Estate, under the umbrella of the Japanese corporation. This will promote the continuous growth of the Hmlet brand and its re-expansion in the Asia-Pacific region.

■ What this acquisition achieves

1. Securing global bases

We acquire operating bases in Singapore (829 units) and Hong Kong (232 units), along with human resources and an organization with expertise in global expansion. Post-acquisition, Habyt APAC will be led by Yoan Kamalski as CEO, driving growth across the entire APAC region.

2. Evolution of the digital platform

In addition to the digital products developed by Hmlet Japan, we will inherit the property lists accumulated by Habyt APAC, further evolving the living experience where move-in, move-out, and community formation are completed digitally.

3. Centralization of decision-making in Japan

By centralizing the group's headquarters functions in Japan, we will speed up decision-making and provide consistent, high-quality services across Asia.

■ Future Outlook: 35,000 Units and 10 Billion JPY Operating Profit by 2035

With this APAC acquisition as a catalyst, the FL Japan Holdings group companies aim to achieve 35,000 units and over 10 billion JPY in operating profit both domestically and internationally by 2035, striving to become the world's largest flexible living operator.

Center is Mr. Sasaki, CEO of Hmlet Japan; right is Mr. Kamalski, CEO of Hmlet APAC; left is Mr. Yokote, representative of Blueground Japan.