Tanjong Pagar will welcome health lifestyle concept hotels and long-stay apartments by the end of 2029 | Lianhe Zaobao

A new project combining a hotel and serviced apartments will be added to Singapore's Central Business District by the end of 2029, focusing on a design concept centered around physical and mental well-being. This brand-new project is a collaboration between local private real estate developer New Vision Holding and CapitaLand Invest's accommodation business Ascott. The project, named "Ascott Shenton Way Singapore," marks the first collaboration between the two companies, with a groundbreaking ceremony held on Monday (January 26), attended by Minister of State for Manpower and Technology Dr. Tan See Leng as the guest of honor. Ascott Shenton Way Singapore is located on Enggor Street in the heart of Tanjong Pagar, standing 29 stories tall with a total of 137 units, including 42 hotel rooms and 95 serviced apartment units, catering to both short-term stays and long-term service needs with a minimum stay of three months. This new flagship project aims to redefine the accommodation experience for business travelers and long-term residents, creating a lodging option rooted in mental well-being and infused with artistic inspiration. Ascott's Second Brand Project in the Central Business District Ascott's Chief Strategy Officer and Managing Director for Southeast Asia, Wang Jialing, stated that Ascott Shenton Way Singapore is the second brand project for Ascott in the Central Business District, further solidifying Ascott's expertise in providing high-end accommodation services in prime urban areas. She said, "The project directly supports the transformation of Singapore's Central Business District into a vibrant 'live, work, play' area." Further Reading Marina Square's transformation into a super-large mixed-use development project: Analysis on how it helps unleash regional development potential [Building serviced apartments to retain commercial use: Will developers bite on new regulations to revitalize the city? ![](https://dss0.zbstatic5.com/s3fs-public/styles/article_small_crop/public/articles/2025/02/10/20250210newsflat_0.jpg? The ongoing project is also the first development project of New Vision Holding, established in 2019. In response to a query from Lianhe Zaobao about why the first project was chosen in the hospitality sector, Executive Director Tang Xin said, "We have indeed seen that the Singapore Tourism Board has done an outstanding job of continuously bringing world-class events to Singapore. The Urban Redevelopment Authority is also working to transform the city center from a purely work environment into a place that emphasizes work-life balance, which has shown us the opportunity to enter the hospitality industry." Tang Xin also pointed out that during the conceptualization phase, she had many ideas, and thanks to Ascott's professional advice, not only did they fully understand her needs, but they also grounded her firmly in the real market environment, making her confident that Ascott is a worthy partner to collaborate with. As for the investment amount, Tang Xin said it cannot be disclosed at this time. "The attention, energy, and advisory team we have invested in this project fully reflect our firm commitment to it. This investment aims to create long-term enduring value, so we are not only focused on profitability and commercial value but also hope to take pride in it."