Ascott Residence Trust (Ascott Reit) has announced plans to sell over 15,000 sq m of the 197-unit Somerset Liang Court Singapore for S$163.3 million which will be used to redevelop the remaining 13,000 sq m into a new 192-unit Somerset serviced residence with more efficient layout and room sizes.

Slated to open in later 2024, the new residence will offer more than 50% as one- and two-bedroom units for longer stays, while having a hotel licence will also offer the flexibility for short stays.

This joins other developments in the area, including the 324-unit lyf one-north Singapore on Nepal Hill, a coliving property slated to open in 2021.

Read more: