From Aging Accommodation to Co-Living Asset: Uju Property Management's Successful Sale of "Celip Yeoui"

Exterior of Selip Yeoui

The co-living asset "Celip Yeoui," operated by Uju Property Management, a subsidiary of Zigbang, completed its sales contract in June 2026. Bando, the asset holder, explained that this transaction reflects the positive results of converting and operating an existing accommodation facility as a residential-type shared space.

Since its launch in 2021, Celip Yeoui has been offering both long-term rental-type "CELIB Life" and short-term stay-type "CELIB Stay" services. By expanding its customer base to include office workers, single-person households, and foreign visitors, the property established a stable operational foundation and enhanced its asset competitiveness.

This deal is considered a case where Uju Property Management’s operational capabilities led to an increase in asset value. In fact, Celip Yeoui achieved a room occupancy rate of over 95% in the first half of this year, and it is reported that the asset was sold at a value approximately 62% higher than the original purchase price based on its operational performance.

Another notable aspect of this case is the repurposing of an aging hotel into a co-living space, allowing for simultaneous improvements in operational performance and asset value. Following the conversion, factors such as revenue growth, operational stability, and asset appreciation were all reviewed during due diligence. The industry also views this case as a successful example of boosting asset value through strong operational competence.

In particular, operational efficiency is directly linked to profitability in the co-living sector, making the role of professional operators increasingly important. Additionally, collaboration models between asset owners and operators are diversifying.

This transaction demonstrates that co-living can go beyond simply providing residential services and can expand to revitalize aging assets and contribute to the asset operation and management market.

Uju Property Management CI

Jeong-hyeon Kim, CEO of Uju Property Management, stated, "Based on the operational data and spatial planning expertise accumulated through Celip Yeoui, we will secure new operating assets and work to develop a Co-Living Asset Suitability (CLAS) model that utilizes Zigbang’s data for specialized co-living location and revenue analysis, as well as launch operations management services for aging and small-scale assets within this year."

The company plans to further strengthen its expertise in co-living operations based on this case and continue to expand new projects and operations management services.

This content was produced with the assistance of AI translation services.