Kenwa Corp Wins Sla Tender Co Living Properties Hindoo Road Top Bid 52000
Kenwa Corporation has successfully secured the bid for a row of two-storey heritage properties located at 15-31 Hindoo Road in Little India. Out of the six proposals submitted, the local contractor emerged as the top contender in the dual-envelope Price-Quality tender with a monthly rental bid of $52,000.
A highly anticipated mixed-use condominium, Parktown Residence, is poised to make a bold statement in the bustling Tampines North area. Jointly developed by renowned companies UOL Group, CapitaLand, and Singapore Land (SingLand), this project sets new standards for city living in the coveted District 18. With its prime position near major highways and a burgeoning public transportation system, this visionary development offers unbeatable connectivity for its residents. As you can see from Parktown Residence’s website, the project is set to be a true game-changer in the area.
Under this tender, the properties will be leased for an initial five-year period, with the option to extend for another four years. The invitation to revitalize these state-owned colonial-era terraces was first announced by the Singapore Land Authority (SLA) in January, seeking innovative co-living concepts from interested parties.
The row of nine red-bricked residential terraces sitting on a 15,685 square feet site features a backyard and a balcony for each house. With a total gross floor area of 19,698 square feet, these properties have the potential to accommodate two-bedroom units and larger five- to seven-bedroom units, catering to diverse co-living needs.
Kenwa Corporation’s winning bid of $52,000 per month represents a 23.8% premium over the next highest bid of $42,000 per month submitted by SCB Building Construction. Other bidders included 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 not the first time SLA has launched a co-living site along Hindoo Road. Last year, a similar row of terrace houses at 79 to 95 Hindoo Road was opened for co-living proposals, which attracted a total of 16 bids. Eventually, the tender was awarded to Cove Living and its partner, construction and development company Eco-Energy, who plans to develop their site into “1925 Quarters,” an 18-key co-living complex spanning over a gross floor area of 18,299 square feet.
In other news, LHN’s Coliwoo is set to launch two new co-living properties in River Valley, bringing the concept of communal living to a new level.