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Contented Living is celebrating our 10th Year Anniversary! How time flies!

Hong Kong Economic Times (HKET) has recently published that we have received social impact funds from two companies to expand our business model. We hope that the investment could alleviate the housing issues faced by the youths and provide more options in accommodation services.

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Contented Living Group Holding Limited issues HK$1.5 Million Convertible Bonds to Gravity Capital Partners Company Limited’s Related Entity
 
On 10 November 2022, Contented Living Group Holding Limited (“CLGH”) entered into the Subscription Agreement with Gravity Capital Partners Company Limited’s related entity (“GCP”), pursuant to which GCP has conditionally agreed to subscribe for and CLGH has conditionally agreed to issue the Convertible Bonds in the aggregate principal amount of HK$1,500,000, subject to the terms and conditions set out in the Subscription Agreement.
 
CLGH management believes that the bond will further strengthen the working capital of the company, in order to expand the company’s portfolio of affordable housing for youth in Hong Kong. In addition to the financial support, the board also values GCP as a strategic investor for its possession of an extensive business network and the vision of impact investment in youth empowerment.
 
The board considers that the terms and conditions of the Subscription Agreement and the Bond Instrument are fair and reasonable, on normal commercial terms and in the interests of the company and its shareholders as a whole.

It was an honour to attend the SIP Stakeholders Gathering on 4th November. Our Founder and Managing Director, Miss Venny Chan, was thrilled to be given an opportunity to share her valuable experiences about Contented Living. It was also a pleasure to meet and connect with many prestigious business owners and exchange our knowledge in different aspects. Thank you Social Impact Partners Limited, we had a wonderful time!

Hong Kong, 3 October 2022 – Social Impact Partners (“SIP”) announces its investment of a HK$1.5 million loan to Contented Living Limited (“CLL”), a company providing affordable housing in Hong Kong.

Contented Living Limited is a co-living accommodation provider since 2012, serving nonlocal university students and young professionals who face budget concerns in the high residential rental cost in Hong Kong. By re-utilized the wasted space of vacant or run-down old buildings, CLL helped to increase the housing supply, and provide safe and affordable space for youths. With CLL’s professional management, they can extend the life of furniture and large electrical appliances to 5 years or more. CLL has built a reputation over the years and it is a listed accommodation supplier of The Hong Kong Polytechnic University, City University of Hong Kong, Hong Kong Baptist University, The University of Hong Kong, The Chinese University of Hong Kong, and The Hong Kong Academy for Performing Arts.

Other than master leasing vacant buildings and renting to youth, CLL also provides property and leasing management services. Currently, CLL is managing student accommodation for Metropolitan University.

With support from SIP, CLL plans to increase the number of buildings and beds so that more youth could be benefited.

Special thanks to Charltons, Egon Zehnder, and PwC, who helped to prepare comprehensive due diligence which helped support our investment decision.