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Source : https://mothership.sg/2020/08/dorm-operator-s11-jonathan-cheah/ 2 takeaways from the article : 1) Toa Payoh has fewer than 14,000 residents. 2) Razor-thin margins. 70% of revenue goes to Rent. 30% of revenue goes to Utilities. In 2015, Cheah told The Businesss Times that his Changi Lodge 2 generated an annual revenue of S$15 million. The paper also reported that the Punggol Lodge would bring in an annual revenue of S$55 million when operating at full capacity.
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who remember serve NS that time, stay-in macham like dog, what amenities also dun have! sigh...
