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Kenwa Corp wins SLA tender for co-living properties on Hindoo Road, with top bid of $52,000

By Nicholas Lam

/ EdgeProp Singapore |

August 22, 2024 11:08 PM SGT

The row of nine red-bricked colonial-era residential terraces is on a 15,685 sq ft site. (Photo: SLA)

Kenwa Corporation has won the tender for a row of two-storey heritage properties at 15-31 Hindoo Road in Little India. The local contractor beat five other bids to clinch the dual envelope Price-Quality tender, with a top monthly rental bid of $52,000.

The tender comes with an initial five-year lease, with the option to extend for a second term of four-years.

The Singapore Land Authority (SLA) had launched the tender for this row of two-storey State-owned properties in January, inviting interested parties to submit co-living proposals to rejuvenate the heritage properties. The tender closed on March 27 and attracted a total of six bids.

The row of nine red-bricked colonial-era residential terraces is on a 15,685 sq ft site, and each terrace house features a backyard and a balcony. The properties have a gross floor area (GFA) of 19,698 fq ft.

SLA estimates that these nine terrace houses could collectively accommodate two-bedroom units and larger five- to seven- bedroom units for diverse co-living needs.

Kenwa’s winning bid of $52,000 per month (pm) also represents a 23.8% premium over the next highest bid of $42,000 pm submitted by SCB Building Construction.

Other bidders include TAP Co-Livings ($30,000 pm), Prime Residence Home ($22,800 pm), Knowledge Production ($22,566 pm), and Keystone Accommodation B ($22,000 pm).

This is the second co-living site along Hindoo Road that SLA has repositioned and launched to attract co-living concepts. A similar row of terrace houses at 79 to 95 Hindoo Road was launched last year for co-living use.

That tender drew 16 bids when it closed in August 2023. It was awarded to Cove Living and its partner, construction and development company Eco-Energy. Cove plans to develop their site into “1925 Quarters”, an 18-key co-living complex across a gross floor area of 18,299 sq ft.

Tags:

SLA Co-Living

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Kenwa Corp wins SLA tender for co-living properties on Hindoo Road, with top bid of $52,000

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