Capitaland And Warees Unveil Second Property Lyf Chinatown Open Mid 2026

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at $62 mil price tjamountlyf CHINATOWN: Capitaland Investment’s hospitality arm, The Ascott Limited, announced its second partnership with Warees Investments in 20 years at the groundbreaking ceremony on May 24. The event was graced by Masagos Zulkifli, Minister-in-charge of Muslim Affairs.lyf Chinatown will offer 90 co-living units and will be situated within a new annex building, connected to four pre-war shophouses via a second-level bridge. The property, which spans 36,527 sq ft, is set to open in mid-2026. In addition, the first level of the four pre-war commercial shophouses facing Pagoda Street will be refurbished and rented out to various businesses.The new co-living residence will be located within the Jamae Chulia Heritage site, alongside the existing Jamae Chulia mosque on Mosque Street and the four Pagoda Street shophouses. This marks the fifth lyf property in Singapore and the 23rd property in the city for Ascott, according to Wong Kar Ling, Ascott’s chief strategy officer and managing director of Southeast Asia. Wong adds that lyf Chinatown, with its prime location in a vibrant neighborhood, provides visitors and residents with the opportunity to fully immerse themselves in the rich culture, diversity, and dynamism of the area.This collaboration between Warees and Ascott is their second venture, following the launch of Somerset Bencoolen Singapore in 2004. In 2019, the property underwent renovations.Warees, a religious asset management company wholly owned by the Islamic Religious Council of Singapore (Muis), is responsible for managing assets, developing prime commercial and residential properties, and preserving cultural and heritage buildings. Some of its assets include the mixed-use commercial and residential development The Red House at Katong, the landed housing cluster Alias Villas in Bukit Timah, and the Bencoolen Street mixed-use development which houses the 84-unit Somerset Bencoolen serviced apartment, a mosque, commercial units, and Bencoolen MRT station on the Downtown Line.During the ceremony, Masagos Zulkifli commented on the significance of the Jamae Chulia Heritage site as the final remaining wakaf (endowment) land to be developed. He added that it is a tribute to the Indian Muslim community’s collective efforts in nation-building since the 1800s, as well as a testament to the community’s progress over the years.WJC Heritage, a subsidiary of Warees Investments, has been set up to oversee the restoration works at the Jamae Chulia mosque. Abdul Razak Hassan Maricar, chairman of Warees’ board of directors, stated that the project will be jointly funded by three wakaf organizations, namely Wakaf Haji Mohamed Amin Bin Fazal Elahi, Wakaf Jamae Chulia, and WJC Heritage.The Minister emphasized that the additional income generated from the commercial mixed-use development will be channeled towards enhancing infrastructure and economic opportunities for the Indian Muslim community, who are beneficiaries of the wakaf.