Coliwoo Secures S\$101 Million Hotel Asset for Co-living Expansion at Changi Business Park

Key Strategic Acquisition Set to Bolster Co-living Portfolio and Market Position

Key Highlights

• Coliwoo Holdings Limited (SGX: W8W), Singapore’s leading co-living operator, has announced that its subsidiary, Coliwoo Project Ace Pte Ltd, has entered into a put and call option agreement to acquire the hotel strata lot at 2 Changi Business Park Avenue 1 for S\$101.0 million (excluding GST).
• The property is being acquired from Perpetual (Asia) Limited, acting as trustee of Viva Trust, a wholly owned sub-trust of ESR-REIT.
• The hotel block comprises over 250 rooms and retail space on the ground floor, forming part of the prominent ESR BizPark @ Changi development.
• The acquisition is structured as a leasehold estate, commencing from completion and expiring one day before the expiry of the head lease with JTC Corporation (originally a 30-year tenure from 1 February 2008), with an option to renew for a further 30 years.
• Transaction completion is targeted by 31 March 2026.
• The asset is set for conversion from the former Park Avenue Changi hotel into a specialised Co-living Hotel, capitalising on its location within the established Changi Business Park and proximity to Changi Airport.
• This move is part of the Group’s ongoing strategy to reposition mature hotel assets into higher-yielding co-living assets, aiming to unlock untapped value and increase returns.

Strategic Rationale and Market Impact

The Changi Business Park site is strategically located, offering access to a robust corporate tenant base, and is well placed to serve multiple market segments, including:

• Corporate professionals from the surrounding business district
• Transit passengers and aviation personnel, given the proximity to Changi Airport
• Professionals involved in the ongoing Changi Terminal 5 construction project

The ability to cater to these diverse groups is expected to drive high occupancy rates and sustainable rental yields for the repositioned co-living property. The acquisition is also noteworthy as it complements Coliwoo’s upcoming resort-style co-living property, Coliwoo Resort Changi at 159 Jalan Loyang Besar, scheduled to launch in the third quarter of FY2026. This signals the Group’s confidence in rising demand for adaptive reuse of mature hotel assets in Singapore’s dynamic accommodation sector.

Management’s View

Mr. Kelvin Lim, Executive Chairman and CEO of Coliwoo, emphasised that this acquisition presents a compelling opportunity to expand Coliwoo’s co-living portfolio in a location with “genuine strategic advantages.” He highlighted that the Changi Business Park site benefits from multiple demand drivers—business community, airport ecosystem, and infrastructure development—allowing Coliwoo to transform underperforming properties into specialised co-living accommodation. With a proven track record and robust pipeline, Coliwoo aims to cement market leadership and deliver sustainable shareholder returns.

What Shareholders Should Know

• Potentially Price-Sensitive: The S\$101 million acquisition represents a significant capital commitment and marks a material increase in Coliwoo’s property portfolio. The Group’s ability to successfully convert and operate the property as a co-living hotel will impact future earnings and valuations.
• Long-term Lease Security: The renewal option for an additional 30 years provides long-term operational certainty, enhancing the asset’s value and income-generating potential.
• Strategic Growth: This acquisition is part of a broader expansion strategy, reinforcing Coliwoo’s position as Singapore’s leading co-living operator with close to 3,000 rooms across high-demand clusters.
• Market Timing: The transaction comes amid strong demand for flexible accommodation and the ongoing transformation of Singapore’s hospitality sector.

About Coliwoo Holdings Limited

Established in 2018, Coliwoo specialises in acquiring or leasing underutilised properties and transforming them into modern, community-focused co-living spaces. The Company also offers leasing and property management services to third-party operators, and may invest in property holdings or leasing entities for strategic purposes.

Contact Information

Investor Relations:
Emily Choo: [email protected] | +65 9734 6565
Royston Tan: [email protected] | +65 9766 4836

Public Relations:
W Communications: [email protected]

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult with their financial advisors before making any investment decisions. The information provided is based on company disclosures as of 30 January 2026 and is subject to change without notice.

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