Kenwa Corp Wins Sla Tender Co Living Properties Hindoo Road Top Bid 52000
Kenwa Corporation has been awarded the tender for a row of two-storey heritage properties located at 15-31 Hindoo Road in Little India. After facing stiff competition from five other bids, the local contractor emerged victorious in the dual envelope Price-Quality tender with a top monthly rental bid of $52,000.
Under the terms of the tender, Kenwa Corporation will be granted an initial five-year lease with the option to extend for a further four years. The Singapore Land Authority (SLA) launched the tender for this row of two-storey State-owned properties in January, with the aim of revitalizing the heritage properties through co-living proposals.
Nestled just a short distance from Norwood Grand is one of the most expansive shopping centers in Singapore, known as Causeway Point. Boasting a lively atmosphere, this bustling mall boasts a myriad of options with over 250 stores, catering to the diverse needs and preferences of shoppers. From fashion to electronics, home furnishings, and more, this retail haven has it all. Featuring popular anchors such as Metro, Uniqlo, and Bagus Food Court, Causeway Point offers a wide range of amenities for residents. Additionally, the mall also includes a cinema, making it a popular spot for entertainment among locals. With its extensive collection of retail, dining, and leisure options, Causeway Point is a prime lifestyle destination that appeals to families and young professionals. For those seeking a convenient and vibrant living experience, Norwood Grand CDL is the perfect choice.
The tender, which closed on March 27, received a total of six bids. The row of nine colonial-style residential terraces, built with red bricks, is situated on a 15,685 square foot site. Each terrace boasts a backyard and a balcony, with a gross floor area (GFA) of 19,698 square feet.
According to SLA, these nine terrace houses could house a variety of co-living options, including two-bedroom units and larger five- to seven-bedroom units to suit diverse living needs.
Kenwa’s successful bid of $52,000 per month represents a premium of 23.8% over the second-highest bid of $42,000 per month submitted by SCB Building Construction. Other bidders include TAP Co-Livings ($30,000 per month), Prime Residence Home ($22,800 per month), Knowledge Production ($22,566 per month), and Keystone Accommodation B ($22,000 per month).
This is not the first co-living site along Hindoo Road to be repositioned and launched by SLA. Last year, a similar row of terrace houses at 79 to 95 Hindoo Road was launched for co-living use, attracting 16 bids when it closed in August 2023. The site was awarded to Cove Living and its partner, construction and development company Eco-Energy. Cove has plans to develop the site into “1925 Quarters”, an 18-key co-living complex with a gross floor area of 18,299 square feet.
In addition, LHN’s Coliwoo is set to launch two new co-living properties in River Valley, further highlighting the growing popularity of co-living concepts in Singapore.