Dash Living takes over Hmlet’s Sydney property as it steps into Australia

Hong Kong-based rental solutions startup Dash Living announced that it has entered the Australian market after taking over co-living rival Hmlet‘s 82-room St Peter’s property near Sydney’s business district. The company will rename it to Dash Living St Peters.

This move comes after Singapore-based Hmlet announced its exit from the Australian market last month. It was also reported that the co-living firm had US$343,000 of unpaid debt.

Dash Living St Peters / Photo Credit: Dash Living

The development also follows Dash Living’s US$8.8 million series A round in March – the proceeds of which would go into launching its serviced rental solutions in Japan and Australia, the company said.

“With the prime location in Sydney, we’re very pleased to include it as the first project and offer affordable accommodation for our tenants to enjoy the great value and building facilities,” said Dash Living founder Aaron Lee in a statement. “This property fits very well into Dash Living’s concept of co-living and sharing economy.”

With this expansion, Dash Living has now touched down in four countries: Hong Kong, Singapore, Japan, and Australia. It also has plans to expand to Southeast Asia.

“We’re seeing strong demand for co-living across the leading cities in Asia Pacific and are very positive about the sector,” added Lee.

With the St Peters property, Dash Living now has more than 1,300 units in the Asia Pacific.