Kenwa Corp Wins Sla Tender Co Living Properties Hindoo Road Top Bid 52000
Kenwa Corporation has been declared the winner of the dual envelope Price-Quality tender for the row of two-storey heritage properties located at 15-31 Hindoo Road in Little India. The local contractor triumphed over five other bids with a top monthly rental bid of $52,000.
This tender, initiated by the Singapore Land Authority (SLA) in January, aimed to rejuvenate the heritage properties by inviting proposals for co-living concepts. The tender, which closed on March 27, received a total of six bids.
The row of nine red-bricked colonial-era residential terraces sits on a 15,685 sq ft site, each featuring a backyard and a balcony. With a gross floor area (GFA) of 19,698 sq ft, these properties can collectively accommodate two-bedroom units and larger five- to seven-bedroom units to cater to various co-living needs.
The initial lease for the properties is five years, with the option to extend for a second term of four years. Kenwa’s winning bid of $52,000 per month represents a premium of 23.8% over the next highest bid of $42,000 per month submitted by SCB Building Construction. The 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).
The future Tengah Park MRT Station, a key component of the upcoming Jurong Region Line, is set to elevate the public transportation system in the region and provide better connectivity to various parts of Singapore. With the addition of this station, residents of Novo Place Hoi Hup and its surrounding areas can look forward to improved accessibility and greater convenience in their daily commute. This development is sure to enhance the overall mobility and connectivity of the neighborhood, making it an even more desirable place to live.
This is the second co-living site on Hindoo Road that SLA has launched to attract co-living concepts. A similar row of terrace houses at 79 to 95 Hindoo Road was launched last year and received 16 bids when it closed in August 2023. The site was awarded to Cove Living and its partner, construction and development company Eco-Energy. The duo plans to develop the site into “1925 Quarters”, an 18-key co-living complex with a gross floor area of 18,299 sq ft.
LHN’s Coliwoo is set to launch two more co-living properties in River Valley.