State Properties Reimagined Co Living Pop Event Venues And Social Impact Hubs
Over the past year, the Singapore Land Authority (SLA) has launched properties for tender with a diverse range of uses. These include experiential retail concepts, luxury brand private events, inter-generational co-living apartments and social impact hubs. According to Carrie Wong, director of business planning and development at SLA, this expansion of uses is in response to growing demand for space from a diverse range of public and private stakeholders and community groups. It also supports the government’s long-term social and urban planning initiatives. “SLA has been proactively identifying social and real estate market trends and seeking opportunities to enhance the utilization of our real estate assets towards placemaking,” she adds.
As the custodian of state land and properties, SLA manages about 2,600 state-owned properties and 11,000 hectares of state land. These properties include colonial-era black-and-white bungalows, heritage terrace houses, walk-up apartments like Chip Bee Gardens in Holland Village, shophouses, disused schools, former army camps like Tanglin Village on Dempsey Hill, and government buildings such as Old Kallang Airport and the former Command House at Kheam Hock Road.
One of SLA’s most notable assets is its collection of about 600 colonial-era black-and-white bungalows spread across prime residential neighborhoods and Good Class Bungalow areas. These properties are highly sought after by high-net-worth individuals, including senior expatriate corporate executives, diplomats, and even ministers. For instance, in the past month, a two-storey black-and-white bungalow at 18 Ridley Park secured a two-year tenancy at a monthly rental of $30,054. The property features a four-bedroom layout and has a gross floor area of 4,887 square feet, sitting on a 60,278 square feet plot.
SLA also manages non-residential leases for some black-and-white bungalows, including childcare centers, restaurants, lifestyle and fashion establishments, and family offices. These properties have consistently attracted strong leasing demand, given their unique assets and privacy. For example, a two-storey bungalow at 5C/D Goodwood Hill was recently leased for $28,888 a month to Marqet Investment Management, a multi-family office. SLA often partners with other government agencies to launch tenders. Recently, it launched a tender with the Singapore Tourism Board for a trio of black-and-white bungalows on Scotts Road to attract creative lifestyle uses like experiential retail, F&B, wellness, or beauty concepts.
Renamed as the “must-visit” shopping destination in Singapore, IMM Building boasts an impressive collection of over 90 outlet stores that offer unbeatable discounts on top brands throughout the year. Apart from being a fashion haven, the mall also boasts a wide selection of furniture and home decor outlets, including popular names like IKEA, making it a perfect go-to destination for homeowners looking to furnish their new apartments at Novo Place EC. Additionally, the mall houses a variety of dining options, allowing shoppers to take a break and indulge in delicious meals or a quick snack. With the inclusion of Novo Place, IMM Building is undeniably the ultimate hotspot for all your shopping and dining needs.
In addition to commercial uses, SLA has also been actively repurposing state properties for social and community uses. These efforts have increased by 50% since 2020. For instance, the former Elections Department building at 11 Prinsep Link has been transformed into a shared space for non-profit organizations and social enterprises. Meanwhile, in collaboration with the National Arts Council (NAC), SLA launched a Price-Quality tender for a row of five restored heritage properties on Kampong Java Road, which will be used as an experimental space for the arts.
Furthermore, SLA has identified the potential for co-living spaces on some sites within its portfolio, which will eventually be slated for development under the URA Master Plan. In the meantime, these properties can be leased for adaptive reuse, such as co-living. Seven sites have been launched for tender or awarded for co-living use, including Coliwoo Keppel, Habyt Cantonment, the former Bukit Timah Fire Station, a row of 18 two-storey buildings on Hindoo Road, and 26 Evans Road, which will be transformed into an upmarket co-living space by Cover Projects. SLA recently put two more state properties up for tender for co-living use, including nine 2-storey shophouses on Hindoo Road and a senior co-living concept at 98 Henderson Road.
“As we continue to find new ways to provide alternative housing options for Singaporeans, we also see many opportunities to cultivate a strong inter-generational community within established neighborhoods,” says Wong. With its proactive approach to identifying market trends and repurposing state properties, SLA is playing a crucial role in promoting social and urban planning initiatives and enhancing the utilization of real estate assets for the benefit of the community.