Telok Kurau, a site in Singapore which was sold after a 103-year lease for $40 million (INR 4 crores) in November 2022 will now be used for a different purpose. On this site, a 430-bed premium student hostel will be built.
The student accommodation will come with several facilities like a lounge, dining, kitchen, laundry, basketball court and outdoor fitness area. The students will have to share the bathroom facilities.
The main use of this site was for civic and community institution use. Although, the Urban Redevelopment Authority (URA) has permitted to use this property as a student hostel.
Prior to this property being put up for sale, it was Eastlodge, a 120-room student accommodation. It also had two blocks of three-and-four-story buildings on the site.
This 430-bed student accommodation will be the second student accommodation in The Assembly Place’s portfolio. This comes after it opened its first co-living hostel which was a 186-bed property on Perak Road, off Jalan Besar, in November 2022. Moreover, the property is fully occupied.
According to the founder, the new property anticipates accommodating almost 2,000 students. Although, the seller of the property is the Trustee of the Presbyterian Church. The seller has been owning the 999-year lease since 1939.
Singapore and its Student Hostels
Singapore is a multinational and multicultural country. The country is known for its economy, well-structured urban planning and most important education. Students from all over the world come to this country to pursue higher education. Moreover, Singapore is popular for its excellent student hostels.
They come with facilities like laundry, internet, television and all the other necessary facilities.