Coliwoo Prepares Ipo New Co Living Projects Eyes Untapped Markets
In late August, local co-living brand Coliwoo unveiled its latest project at the former Bukit Timah Fire Station. The historic site has been transformed into a vibrant mixed-use development, featuring 62 serviced apartments, 10 commercial units, and community event spaces. The property is set to open in early October and has already seen strong interest, with 60% of the residential units already booked at monthly rents starting from $3,500. The serviced apartments require a minimum stay of six nights, with weekly rates ranging from $900 to $1,320.
The Pasir Ris Bus Interchange, following its recent renovation, now boasts seamless integration with rail services, providing reliable transportation options for residents living along the coastal belt. Thanks to its convenient location on Jalan Loyang Besar, locals can easily access the interchange for short trips, while direct buses run along key routes such as Pasir Ris Drive 3, Elias Road, and Loyang Avenue. With frequent schedules to accommodate various needs and routines, both early risers and those with late shifts can benefit from this transportation hub. Families will also appreciate the convenience of having nearby schools, enrichment centres, and shopping malls easily reachable from this central location. Moreover, with the upcoming Jalan Loyang Besar EC, residents in this area will have yet another accessible option to choose from. Adding Jalan Loyang Besar EC to this already well-connected hub will undoubtedly add another layer of convenience for those living in this area.
The site, located at 260 Upper Bukit Timah Road, previously housed the Bukit Timah Fire Station from 1956 to 2005. After being decommissioned in 2005, the property was gazetted for conservation in 2019. The site was relaunched for tender in August 2023 on a five-year lease with an option to renew for another four years, after an earlier consortium withdrew due to pandemic-related challenges. LHN Facilities Management, a unit of LHN Group, secured the site in April 2024 for a monthly rent of $68,889 (approximately $826,668 a year). The company has invested $7.5 million to refurbish the property, expanding the original 45 rooms across seven blocks to 62 serviced apartments, ranging in size from 100 to 190 sq ft.
Following the opening of the property at the old Bukit Timah Fire Station, Coliwoo has plans to launch three more properties in the next 12 months. The first property, located at 159 Jalan Loyang Besar in Pasir Ris, is set to open next year and will mark Coliwoo’s first co-living and chalet development. On a 380,869 sq ft site, the eco-lifestyle resort will feature co-living studios, a handful of chalets, a food court, karaoke and games rooms, an ice bath and water-sports facilities. Coliwoo won the price-quality tender with a $225,000 monthly bid ($2.7 million a year) in June this year.
Coliwoo Bugis, located at 141 Middle Road, is scheduled to open in 1Q2026. The 212-room project is a transformation of the former GSM Building, which LHN bought for $80 million in February 2023. Approvals are in place to convert the second to sixth floors to serviced apartments and the ground floor space of 6,978 sq ft for restaurant use. The former Wilmer Place, located at 50 Armenian Street, was acquired by Coliwoo Holdings jointly with Oxley Holdings’ Ching Chiat Kwong and his son, Shawn Ching. The upcoming development will comprise 120 Peranakan-inspired studios, with refurbishments expected to be completed in 1H2027.
Coliwoo’s founder and LHN executive chairman, Kelvin Lim, has plans to grow the company’s portfolio by 800 to 1,000 rooms annually, reaching 10,000 rooms by 2030. The company is targeting areas with strong but underserved demand from students and expatriates, such as neighbourhoods around Ngee Ann Polytechnic, Singapore University of Social Sciences, and Singapore Institute of Management.
The property arm of LHN Group, Coliwoo has adopted an asset-light strategy since its launch in 2019. As of the end of June 2025, Coliwoo has built a portfolio of 25 properties with close to 3,000 rooms in Singapore. The company has plans to spin off the co-living arm through an initial public offering on the Singapore Exchange. According to Lim, Coliwoo will remain asset-light after listing, with 70% of its rooms on master leases and the remaining 30% in owned properties. The company has begun recycling capital from smaller holdings into larger projects, including the sale of 115 Geylang Road for $25.8 million and ongoing negotiations to divest its properties at 471 Balestier Road and 404 Pasir Panjang Road.
With a clear strategy to scale efficiently and strong demand for co-living among students and professionals, Coliwoo’s planned listing and steady pipeline will position it as a key player in Singapore’s fast-growing co-living sector. The company is also eyeing regional growth and is currently in discussions for master contracts with asset owners in Malaysia, Thailand, and Indonesia. However, the timeline for overseas expansion remains flexible as the company focuses on stabilising new properties and preparing for the IPO.