On Jan, 30 2026, Coliwoo Holdings Limited (W8W) said its subsidiary, Coliwoo Project Ace Pte. Ltd., has entered into a put and call option agreement to buy the leasehold interest in a hotel strata lot at 2 Changi Business Park Avenue 1 for 101 million Singapore dollars, excluding goods and services tax.

The asset, previously operating as Park Avenue Changi hotel, comprises more than 250 rooms and ground-floor retail space within the ESR BizPark @ Changi development. Upon completion, the leasehold will run until one day before the head lease with JTC Corporation expires on Jan, 31 2038, with an option to renew for a further 30 years.

Coliwoo targets to complete the acquisition by Mar, 31 2026 and intends to convert the property into a co-living hotel to serve corporate tenants in Changi Business Park, aviation personnel and other airport-related demand.

The deal supports the group’s strategy of repositioning mature hotel assets into higher-yielding co-living properties and adds to its pipeline, which includes the upcoming Coliwoo Resort Changi at 159 Jalan Loyang Besar scheduled to open in the third quarter of fiscal 2026.