Abiel to convert three Geylang Road shophouses into 'micro-residences' for rent
The conversion signals perceived demand from young professionals and expats for flexible three- to 24-month stays, potentially encouraging more shophouse-based extended-stay accommodation.
Abiel will open 15 micro-residences of around 200 sq ft each at House 223 in September, with monthly rents of approximately $2,300 to $2,700.
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Abiel Property Investment Fund is converting three adjoining conservation shophouses on Geylang Road into a collection of “micro-residences” that aim to fill the gap between a hotel stay and a conventional rental lease.
Located at 223, 225 and 227 Geylang Road, House 223 is set to open in September. It will feature 15 micro residences, located across five levels totalling 12,957 sq ft. The development will also have a rooftop garden and communal areas.
Each self-contained residence, sized at around 200 sq ft, will include a private kitchenette, bathroom, laundry facilities, workspace and sleeping area. They are designed to be move-in ready, with no furnishing or set-up required.
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Rents for the residences are expected to range from approximately $2,300 to $2,700 per month for each 200 sq ft residence, says Abiel.
The Singapore real estate investment firm, which manages a portfolio of shophouses and industrial assets worth $130 million, had purchased the Geylang Road shophouses in February 2024 for $18.68 million, based on caveats lodged.
House 223 is targeted at young professionals and expats aiming to stay for between three and 24 months – a segment which Abiel says is currently underserved. “There is plenty of long-lease housing in Singapore, and high-end serviced apartments. What is missing is anything in between,” said Maureen Li, Abiel’s CEO and founder.
To that end, the company is positioning House 223 as “a new category of extended-stay accommodation” that closes the gaps not covered by hotels, serviced apartments, co-living properties and conventional leases.
While the residences offer residents privacy, communal spaces – particularly the rooftop – are designed to help facilitate community.
The rooftop will include an edible kitchen garden, outdoor barbecue space, a long communal dining table, quiet reading corners, hammocks and cafe lights.
Read also: Seven freehold conservation shophouses in Geylang for sale at $65 mil