Freehold 4-storey mixed-use development opposite Kembangan MRT station for Sale via Expression of Interest

Singapore, 28 May 2025 – CBRE, as the exclusive marketing agent, is pleased to present for sale a unique 4-storey mixed-use freehold development at 19 Jalan Masjid. The sale will be conducted via an Expression of Interest exercise, which will close on Wednesday, 2 July 2025, at 3pm.

Occupying a prime, freehold site with a total land area of about 3,383 sq ft, the 4-storey building has a total built-up area of about 10,134 sq ft. Under the Master Plan 2019, the site is zoned “Residential with Commercial at the 1st-storey”, with a Gross Plot Ratio of 3.0. The vendor has obtained in-principal approval to convert the upper floor premises into Serviced Apartment II (SA2), subject to the fulfilment on a list of conditions set out by the authorities.

Presently, the property is fully-tenanted with 23 ensuite rooms and will be able to provide the incoming investor with stable and immediate rental income. The ground floor unit is leased to a commercial school, while the upper floors are currently fully-occupied by a well-established co-living operator in Singapore. The building is retrofitted with a passenger lift that serves all floors and comes with three car parking lots at the rear.

The indicative guide price for the building is at S$17 million, or approximately $1,678 psf on the existing floor area.

Strategically placed within the Bedok, one of Singapore’s largest planning areas with a total resident population of about 280,000 residents as of 2024, the asset stands to benefit tremendously from strong and immediate catchment demand. Furthermore, the building enjoys excellent visibility along Jalan Masjid and is immediately enveloped by a wide array of F&B options and service amenities. These include retail shops and service amenities at Kembangan Plaza, which is located right opposite the development, and the wide range of eateries and restaurants that can be found along the nearby Changi Road. Within the immediate vicinity, an upcoming mixed-use project located right next to Kembangan MRT Station is also set to further rejuvenate the neighbourhood. The new integrated development by HDB will comprise 340 new residential units and a 5-storey building to house a new community club, supermarket, retail shops, and outpatient healthcare facility.



Mr. Clemence Lee (利伟强), Executive Director, Capital Markets, Singapore at CBRE, commented, “This offering represents a unique opportunity for investors to acquire a freehold mixed-use development with in-principal approval for SA2. The introduction of the SA2 scheme allows investors to diversify their portfolios by incorporating Living asset classes, which can provide long-term income stability and capital appreciation. Given the scarcity of such assets and the attractive investment quantum of under S$20 million, we anticipate strong interest from a diverse range of investors, including boutique real estate funds, corporations, family offices, and high-net-worth individuals.”

He added, “We are increasingly witnessing heightened interest from institutional investors in the Living sector, driven by Singapore’s resilient residential market amid global uncertainties. Stable leasing demand is bolstered by changing attitudes towards leasing and the rising popularity of flexible co-living arrangements among young professionals, expatriates, and international students who favour shorter-term rental options.”

19 Jalan Masjid enjoys exceptional accessibility, being located right opposite Kembangan MRT Station, which is only a short 2-minutes walk away. The nearby Pan-Island Expressway (PIE) and East Coast Parkway (MCE) also make it highly accessible to other popular destinations in Singapore such as the Central Business District and Changi Airport.