Zion Road is one of the sites where Singapore will pilot long-stay serviced apartments that come with a minimum lease of three months.
The Zion Road site where long-stay serviced apartments are set to be piloted. The site is next to Havelock MRT station. SINGAPORE: A City Developments Limited joint venture was the sole bidder for a site along Zion Road that has been earmarked for the pilot of long-stay serviced apartments.
If the joint venture is awarded the tender, CDL said they plan to"explore a mixed-use project" comprising two blocks - one 69 storeys and another 64 - with about 740 residential units for sale, as well as a retail podium.These rental apartments are part of URA's pilot of a new class of long-stay serviced apartments, which was announced in November last year.
ERA Singapore CEO Marcus Chu said the joint venture could be"eyeing the service apartment component" given that Singapore attracts business travellers. "The developer might position the long stay serviced apartments at mid to premium targeting working professionals on a short term contract and medical tourists as it is not far from Singapore General Hospital, one-north and the National University of Singapore."
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