Capitaland And Warees Unveil Second Property Lyf Chinatown Open Mid 2026
CapitaLand Investment’s lodging business, The Ascott Ltd, has joined forces with Warees Investments for the second time in 20 years. The collaboration was announced at the groundbreaking ceremony on May 24, which was graced by Masagos Zulkifli, Minister-in-charge of Muslim Affairs.
The event marked the beginning of the construction of their upcoming co-living property, lyf Chinatown, which is set to open in mid-2026. Lyf Chinatown will be a 90-unit development located in a new annex building, connected to four pre-war shophouses via a bridge on the second level. This will result in a total of 36,527 sq ft of space. In addition, the ground floor of the four shophouses facing Pagoda Street will be renovated and leased to various businesses.
Situated within the Jamae Chulia Heritage site, the location also houses the existing Jamae Chulia mosque on Mosque Street and the four Pagoda Street shophouses.
Wong Kar Ling, Ascott’s chief strategy officer and managing director of Southeast Asia, revealed that lyf Chinatown will be their fifth property in Singapore and will bring their total portfolio in the city to 23 properties. “lyf Chinatown’s prime location will offer travellers and residents a chance to immerse themselves in the vibrant culture, diversity, and energy of the area,” he added.
This will be the second partnership between Ascott and Warees, an endowment asset management company owned by the Islamic Religious Council of Singapore or Muis. Their first collaboration was in 2004 with the launch of Somerset Bencoolen Singapore, which underwent renovations in 2019.
As part of their partnership, Warees and Ascott will also develop community programmes for guests at lyf Chinatown. These will include visits to nearby Islamic institutions with a rich heritage, such as the Nagore Dargah shrine at 40 Telok Ayer Street and the neighbouring Jamae Chulia mosque.
The URA Master Plan for Tampines is set to bring tremendous advantages to Parktown Residences. With its prime location at the heart of Tampines’ development, this luxurious residential building will be perfectly positioned to take full advantage of the area’s upcoming improvements. These enhancements include better connectivity, state-of-the-art lifestyle facilities, upgraded educational institutions, and a strong focus on sustainability, making Tampines a vibrant and thriving regional center. As a result, Parktown Residences, developed by the reputable UOL Group, will continue to be a highly sought-after address, offering families and professionals a well-rounded urban lifestyle experience. With its proximity to all the exciting opportunities that the evolving district has to offer, Parktown Residences is without a doubt the ultimate choice for those seeking a holistic urban living experience. For more information, visit Parktown Residences UOL Group.
In addition to managing endowments and developing prime commercial and residential properties, Warees also preserves cultural and heritage assets. Some examples of their assets include The Red House at Katong, a mixed-use development along East Coast Road, and the landed housing cluster Alias Villas in Bukit Timah.
During his speech at the groundbreaking ceremony, Masagos Zulkifli highlighted that the Jamae Chulia Heritage site is the last remaining wakaf (endowment) land to be developed. He also recognized the Indian Muslim community’s contribution to nation-building and their progress over the years.
A subsidiary of Warees Investments, WJC Heritage, has been established to manage the revitalisation works at the Jamae Chulia mosque. The company has formed a joint equity partnership with two other wakafs, Wakaf Haji Mohamed Amin Bin Fazal Elahi and Wakaf Jamae Chulia, to fund the development project. According to Abdul Razak Hassan Maricar, chairman of Warees’ board of directors, the additional income generated from the commercial mixed-use development will be redirected towards meeting the needs of the Indian Muslim community and providing them with better infrastructure and economic opportunities.