Coliwoo eyes $101m Changi hotel acquisition

Changi Business Park hotel will be coverted into co-living housing.

Coliwoo Holdings has secured an option to acquire a $101m hotel asset at Changi Business Park as part of its co-living expansion strategy.

The company said its subsidiary, Coliwoo Project Ace, entered into a put and call option agreement with Perpetual (Asia), acting as trustee of Viva Trust under ESR-REIT, to buy a hotel strata lot at 2 Changi Business Park Avenue 1.

The price excludes goods and services tax.

The property is part of ESR BizPark @ Changi and includes more than 250 hotel rooms and retail space on the ground floor.

The acquisition will be on a leasehold basis, linked to the remaining term of the JTC head lease, with an option to extend the lease by another 30 years.

Coliwoo aims to complete the deal by 31 March.

Coliwoo said the site is suitable for conversion into co-living housing, supported by demand from nearby offices, airport-related workers, and major infrastructure projects, including Changi Terminal 5.

Executive chairman and CEO Kelvin Lim said the acquisition supports the group’s plan to convert mature hotel assets into higher-yielding co-living properties.

The move follows Coliwoo’s plan to launch Coliwoo Resort Changi at Jalan Loyang Besar in the third quarter of FY2026, as the company expands its co-living portfolio in Singapore.

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