Southeast Asia’s leading long-stay platform, LiveIn, the solution to turning excess commercial space into affordable homes for youth, has partnered with JinJoo Home, a co-living specialist for young professionals in Vietnam. Both set out to consolidate and empower Vietnam’s co-living market by providing, to local operators, propositions that are both globally benchmarked and locally contextualized.
Read also – Cambodia Airways join AirAsia MOVE’s long list of direct airline partners
Vietnam’s urbanization rate is expected to be above 50% by 2025, with more than 50% of its population born between 1982 and 2012; as millennials and Gen Zs seek housing in big cities such as Ho Chi Minh City, there is a demand for co-living spaces. Yet it is highly saturated and disaggregated, and local players have their issues, including a high incidence of vacancy, costs related to maintenance, and faltering service.
Read also – IFC Regional Vice President Meets with Key Partners in Cambodia
Keek Wen Khai, CEO & Co-founder of LiveIn, said: “Vietnam’s long-stay market remains highly fragmented, but we see great potential in driving sustainable growth through collaboration. By forming a strategic alliance with JinJoo Home, we aim to bring operators together, address their challenges, and elevate standards to deliver a better living experience for the next generation.”
Jason Wong, CEO & Founder of JinJoo Home, said: “We’re excited to join forces with LiveIn, a leading player in Southeast Asia. Our shared passion for improving young people’s living experience makes this alliance a natural fit. Together, we can combine our strengths and create a more dynamic and high-quality co-living market in Vietnam.”
The partnership arrives at the right time as Vietnam’s residential real estate market is poised to hit USD 45.62 billion by 2029 through the inclusion of co-living. While numerous fragmented operators are constrained by their resources in realizing economies of scale, LiveIn and JinJoo Home are designed to be particularly sensitive to this growth opportunity that amalgamates LiveIn’s internationally accredited standards and JinJoo Home’s local experience. LiveIn always updates the product and service attributes in response to shifting consumer demands and regulations in the regions it operates.
LiveIn will join the TA with 10,500 rooms in 200 buildings across four SEA countries, the company has adeptly executed technology, operations, and demand side capabilities in the region. At the same time, JinJoo Home, which has more local experience and expertise and has already established itself as a local key player operating in Ho Chi Minh City, will play a crucial role in strengthening and assisting operators in implementing these best practices to meet the needs of the Vietnamese market.
This partnership with JinJoo Home extends LiveIn’s earlier deal with Hive, the regional co-living renovation specialist, which helped form the LiveIn Global Renovation Division. With this new division of corporate structure, LiveIn brings carefully crafted home environments that foster change, new opportunities, and personal development to its markets of operation which include Malaysia, Thailand, Vietnam, and Indonesia. Both synergies strengthen LiveIn’s position as a flexible housing provider in Southeast Asia.
About LiveIn
Founded in 2020, LiveIn is a proptech company building the long-stay rental community. LiveIn focuses on addressing the urgent issues of affordable housing by transforming existing properties info affordable rental homes for the young people.
About JinJoo Home
JinJoo Home is the first network to provide a co-living apartment model for young professionals, allowing them to experience a comfortable and flexible life. At JinJoo Home, you will enjoy a range of preferential services, giving you a comfortable living space like at home. From modern apartments in prime locations, with weekly cleaning services, flexible contract terms,… to a young community you can connect with.
