Hmlet takes over Habyt's Apac business, with founder Yoan Kamalski back at the helm

Atiqah Mokhtar

/ EdgeProp Singapore

April 28, 2026 12:09 PM SGT

propertyeditor@edgeprop.sg

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Yoan Kamalski (left), who founded Hmlet in 2016, will be returning as the flexible living operator's Apac CEO (Picture: Hmlet)

Flexible living operator Habyt is selling its Asia Pacific (Apac) business — spanning operations across Singapore and Hong Kong that were previously under the brand Hmlet — to FL Japan Holdings, a subsidiary of Japanese developer Mitsubishi Estate Co. The deal is believed to be valued at “several billion yen” (JPY1 billion equals $7.99 million), Nikkei Asia reported on April 25.

FL Japan manages Mitsubishi Estate's flexible living business through the Hmlet Japan and Blueground Japan brands.

The deal will see Habyt's Apac properties progressively restored under the Hmlet brand and listed under a unified digital platform. Following the re-acquisition, Hmlet will manage 2,915 units, the company said in an April 27 statement.

These comprise properties across Hmlet Japan (1,609 units), Blueground Japan (245 units), and Habyt Apac (829 units in Singapore and 232 units in Hong Kong).

Yoan Kamalski, Hmlet’s founder who left the company in 2021, is being brought back to helm the business as Hmlet’s Apac CEO. “Moving forward, our goals for Hmlet 2.0 will be focused on optimising and strengthening the portfolio while enhancing performance across markets, and creating a fully integrated, technology-driven flexible living ecosystem centred on community,” he says.

Structurally, Hmlet’s regional operations will be led from Japan, building on Hmlet Japan’s business model. “We are now at a pivotal moment, bringing the Singapore base and Apac opportunities back into the fold,” remarks Kenichi Sasaki, representative director and CEO of Hmlet Japan and FL Japan Holdings.

He adds the acquisition will help scale operations into a global flexible living platform that “combines Japan’s operational strength with Hmlet’s original heritage”. The group says it plans to grow its portfolio to 35,000 units globally, achieving an operating profit of over $80 billion by 2035.

In Singapore, Hmlet will take over operations of Habyt’s Punggol Digital District (PDD) hotel. In March, JTC had awarded the tender for a hotel and serviced residence development at Tower 98 in PDD to Verdant View — a joint venture between Singapore real estate company JMD Holdings and Nicholas Yeo, the co-founder of real estate investment and management firm TCRE Partners — with Habyt appointed to manage the property.

Meanwhile, Habyt says the sale of its Apac business marks a strategic shift for the company towards an asset-light model. “We will continue to distribute and market these properties through Habyt’s global platform and channels, while transitioning away from direct operations on the ground,” said Luca Bovone, founder and CEO of Habyt, in an April 27 statement.

Hmlet was founded by Kamalski in 2016. It quickly scaled, expanding to markets such as Hong Kong and Sydney. In 2019, Hmlet partnered with Mitsubishi Estate to form Hmlet Japan, expanding into the Japanese market.

Following the pandemic, Kamalski and several senior leaders left Hmlet in 2021, with the company also exiting the Australia, Malaysia and Thailand markets. The following year, Berlin-headquartered Habyt acquired Hmlet, with the latter’s Singapore and Hong Kong properties subsequently rebranded to the Habyt name in 2023.

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Hmlet takes over Habyt's Apac business, with founder Yoan Kamalski back at the helm

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