# Weave Living puts Jalan Sultan property back on the market at lower price of $95 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-14T04:12:40.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/weave-living-puts-jalan-sultan-property-back-market-lower-price-95-mil
- **Topics:** Private Residential, Commercial & Industrial, New Launches

## Featured rationale

The reduced asking price may improve investor interest, while approved expansion plans and new short-term accommodation policies could strengthen the conservation property's value-add potential.

## AI summary

Weave Suites – Midtown, a 65-key serviced apartment at 33 Jalan Sultan, returned to market at $95 million, $10 million below its 2025 asking price.

## Original article

Weave Suites – Midtown, a serviced apartment at 33 Jalan Sultan, is up for sale again, this time at a lower price.

The 65-key property, housed in 17 contiguous conservation shophouses in the Kampong Glam area, is on the market for $95 million ($1.46 million per key), according to a July 14 press release by JLL.

The price is $10 million lower than the property’s asking price a year ago. In July 2025, its owner, Hong Kong-based accommodation provider Weave Living, launched the property for sale at $105 million ($1.62 million per key).

Read also: Tishman Speyer secures US$300 mil from APG and Bouwinvest for Korean rental housing fund

Weave Living had originally acquired the Jalan Sultan property — previously known as Hotel Clover — for $74.8 million in 2022 through an 80:20 joint venture with Singapore property developer SLB Development. The acquisition marked Weave Living’s first foray into Singapore.

The property offers “material value-add potential through plans to convert underutilised retail units and existing spaces into 40 capsule pods, as approved by URA”, said JLL. The firm added that investors could alternatively convert these spaces into 17 additional guest suites, subject to URA approval.

The property’s appeal is bolstered by URA’s recent policy shift allowing new short-term accommodation in the Upper Circular Road and Beach Road areas. “This policy direction positions existing conservation properties with expansion plans as first-mover opportunities ahead of new supply entering the market,” JLL highlighted.

Tang Ling Wei, executive vice president of investment sales for Asia Pacific at JLL Hotels & Hospitality Group, observed that Singapore’s hospitality sector continues to attract significant investment capital, amid accommodative interest rates and “strong lodging fundamentals”. JLL projects the sector to log over $1 billion in transactions this year.

## Chinese translation

> Translation model: grok

### Weave Living以较低价9,500万新元重新挂牌苏丹街物业

拥有65间客房的Weave Suites – Midtown此前于2025年7月以1.05亿新元挂牌求售。

位于苏丹街（Jalan Sultan）33号的服务式公寓Weave Suites – Midtown再次挂牌求售，这次价格更低。

据仲量联行（JLL）7月14日新闻稿，该物业共65间客房，坐落甘榜格南（Kampong Glam）一带17栋相连保育店屋内，挂牌价9,500万新元（每间客房约146万新元）。

价格较一年前的要价低1,000万新元。2025年7月，业主、总部位于香港的住宿运营商Weave Living曾以1.05亿新元（每间客房约162万新元）推出该物业求售。

延伸阅读：铁狮门（Tishman Speyer）自APG与Bouwinvest为韩国租赁住房基金取得3亿美元资金

Weave Living最初于2022年透过与新加坡房地产开发商SLB Development成立的80:20合资公司，以7,480万新元购入该苏丹街物业——前身为Hotel Clover。该收购标志着Weave Living进军新加坡的第一步。

JLL表示，该物业具备“实质增值潜力：计划将利用率不足的零售单位与现有空间改建为40个胶囊舱，已获URA批准”。该行补充，投资者亦可在URA批准下，将这些空间改建为额外17间客房套房。

URA近期允许在上圆形路与Beach Road一带新增短住住宿的政策转向，进一步增强了该物业的吸引力。“这一政策方向，使具备扩张计划的现有保育物业，在新供应入市前成为先行机会，”JLL强调。

JLL酒店及酒店业集团亚太区投资销售执行副总裁Tang Ling Wei观察到，在利率环境宽松与“住宿基本面强劲”下，新加坡酒店业持续吸引大量投资资本。JLL预计该板块今年交易额将超过10亿新元。