A Singapore real estate firm has turned three adjoining conservation shophouses along Geylang Road into a 15-unit residential concept called House 223. ABIEL Property Investment Fund acquired the properties at 223, 225, and 227 Geylang Road for $18.68 million and is converting the 12,957 sq ft space into fully self-contained micro-residences slated to open in September 2026.
Each unit spans roughly 200 sq ft and comes fully furnished and move-in ready, with no setup work, utility hookups, or additional furniture costs. The target tenant is the international professional on a medium-term posting of three to 24 months — a group that the developer says is underserved by Singapore’s current housing options.
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A middle ground between hotel stays and long leases
Singapore’s housing regulations enforce minimum stays of three months for private residential properties and six months for HDB flats, while short-term rentals like Airbnb face restrictions. House 223 sits in the gap between expensive short-term hotel stays and rigid long-term leases, operating in a similar lane to co-living services.
The main difference from typical co-living arrangements is privacy. Kitchens and living rooms at House 223 are kept completely private, so tenants don’t share daily facilities with flatmates the way they would in a standard co-living setup. Each unit functions as a standalone mini-boutique apartment rather than a rental room.
Geylang’s shifting character
Geylang has historically been known as Singapore’s legal red-light district, primarily located in the even-numbered lorongs further down from the main road. That reputation has been changing. New condominium developments and commercial investment have steadily reshaped the strip into a more accessible urban enclave, and the area’s food scene — dim sum, bak kut teh, frog leg porridge, and streetside durian stalls — remains a draw for residents.
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ABIEL is a Monetary Authority of Singapore-licensed real estate investment firm founded by CEO Maureen Li. The company started in 2012 as a corporate housing provider before transitioning in 2020 into an owner-operated fund manager. Its focus is on freehold shophouses and industrial assets, with prior projects including the conversion of three terrace houses on Aljunied Road into a nine-storey light industrial building at 81 Aljunied and the acquisition of freehold conservation shophouses across Geylang and Jalan Pinang.
The Geylang Road shophouses are being reconstructed and renovated ahead of the September opening. The development will house 15 units across the combined property.
