Weave Living, Asia Pacific’s urban living platform, has acquired a freehold property at 12 Shan Road in Singapore for over SGD100 million, marking its fourth property in the city-state and reinforcing its presence in the region’s growing rental accommodation sector.
The property—set to reopen in 2026 as Weave Suites – Novena—was acquired through a joint venture with BlackRock-managed funds and local construction firm Lian Beng Group.
Once refurbished, the 99-unit development will offer a range of fully serviced apartments with open-plan, one- and two-bedroom layouts, complemented by lifestyle amenities including a lap pool, wellness spaces, communal courtyard, and children’s play area.
The development will be positioned between Novena and Balestier, two of Singapore’s key residential and commercial hubs, with proximity to major healthcare institutions and shopping centers.
The expansion aligns with Weave Living’s broader strategy to redefine urban living and tap into the demand for flexible, well-designed rental options in Asia’s gateway cities.
The Novena acquisition is Weave’s second partnership with BlackRock, reflecting deepening investor interest in Singapore’s living and lodging market.
The property will cater to long-term residents, professionals, corporate travelers, and families seeking modern, large-format accommodations in a centrally located neighborhood.
With this latest deal, Weave Living will operate close to 500 units in Singapore across its various brands, valuing its local portfolio at more than SGD500 million.
Its existing sites include Weave Suites – Midtown in Bugis, Weave Suites – Hillside in Mount Sophia, and Weave Residences – East Coast in Katong.
Founded in 2017, Weave Living has grown rapidly across the Asia-Pacific region, offering fully managed rental housing for city dwellers seeking a blend of flexibility, design, and community living.
Business News Asia