SLA looking at quality of proposals beyond bid price for co-living projects

SINGAPORE: With more state properties set to be repurposed into co-living rental spaces, tenders are increasingly reviewed holistically based on features that are important to residents. 

The Singapore Land Authority (SLA) said that beyond bid price, it awards tenders to run such spaces based on the quality of proposals, taking into consideration aspects such as the concept and creativity of the proposal, contribution to the vibrancy of the precinct, and sustainable initiatives.

This comes on the back of a rising number of bids for properties used for co-living, amid soaring demand.

“There has been an increasing need for spaces for co-living concepts that incorporate many communal facilities such as wellness components to bring the community together and for people to enjoy,” said SLA director Carrie Wong.

“We are very heartened with the number of bids that we have received, and this reflects the demand from the real estate market.”

Such living arrangements – where tenants live in shared or private rooms with communal common spaces – are rising in popularity, especially among young singles.

They are attracted by the leases, which are usually more flexible than traditional rentals, as well as the social aspects and networking opportunities that come with living there. 

Co-living operator Cover Projects, which recently won a bid to turn a state property near Botanic Gardens into such a space, plans to maintain the building’s key features, involve environmental considerations in its planning, and equip the space with amenities. 

The concept for the project "The Initial Sama" at 26 Evans Road will lend a retro-modern touch to the property. It will consist of about 74 service apartment units, ranging from studios, one-bedroom and two-bedroom units.

The operator said it hopes to retain the look of the heritage building by preserving its rustic, red-brick facade. The firm will also touch up the block by giving it a fresh coat of paint and replacing its air-conditioning, pipes, and toilets.

The space will be equipped with co-living, co-working and wellness facilities, including a gym and a backyard swimming pool, before receiving its first group of renters next year.

Nature and natural finishings will also be incorporated into its design, to fit in with its green surroundings. 

“(The project) is an integrated approach to innovative living, working and rejuvenation experience in a single cohesive environment,” said the firm’s managing director Lim Keong Wee.

“It prioritises wellness and social interaction through a series of shared spaces, such as sensory and therapeutic gardens and a workspace hub. We believe the design creates a holistic approach towards urban living and wellness.”

Such a concept could work well for 25-year-old renter Filbert Thamrin, who has checked out both co-living facilities and open market apartments.  

“(Co-living spaces) can be cheaper than an apartment. You get to network and hang out with a community and get to know people as well,” he said.

“It is also flexible, especially if you want to lease for a few months. Because if you want to rent a place, it's usually more rigid, you need (to commit) like a year or two years.”

Aside from international students and expats, co-living spaces are also increasing in appeal among locals, according to real estate companies.

SLA’s Ms Wong said the statutory board takes into account several factors while considering the compatibility of state properties for such ventures, including feedback from various industry players.

“There are also considerations like the location and accessibility. We are also quite mindful of how the use can impact the surrounding environment, so that we ensure minimal disamenity on the ground and (for) surrounding residents and the public,” she said. 

Since last year, SLA has launched three state properties for co-living housing, and is looking at releasing more in the coming months.