---
title: "The Assembly Place completes participation in the acquisition of Lianfa Building, which will be converted into a hotel | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280087366.md"
description: "Local shared living space operator The Assembly Place has completed the acquisition of Lianfa Building located on Dolah Street, which will be converted into a hotel with 152 rooms. The building was sold for SGD 90 million last year, with the buyer being The Assembly Place and its joint venture partner. The Urban Redevelopment Authority has approved the change of use, but it is awaiting construction approval"
datetime: "2026-03-23T02:37:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280087366.md)
  - [en](https://longbridge.com/en/news/280087366.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280087366.md)
generator: "portal-rs"
---

# The Assembly Place completes participation in the acquisition of Lianfa Building, which will be converted into a hotel | Lianhe Zaobao

Local shared living space operator The Assembly Place has completed the acquisition of Lian Huat Building located at 163 Tras Street, and will work with its joint venture partners to convert this 11-story freehold commercial building into a hotel with a total of 152 rooms.

According to previous reports, Lian Huat Building was sold last year for a total price of SGD 90 million, with the buyer being a joint venture company composed of The Assembly Place, Apricot Capital, and Oxley Holdings' Vice President Liu Shijin; The Assembly Place holds a 10% stake.

The Assembly Place announced on Monday (March 23) that the Urban Redevelopment Authority has approved the change of use for this asset from commercial to hotel, and allowed for some additions and renovations, but it still needs to wait for construction approval.

#### Further Reading

Co-living operator The Assembly Place lists with 5.2 times subscription raising approximately SGD 10.8 million The Assembly Place plans to list at SGD 0.23 per share raising SGD 18.3 million 

The loan portion provided for the partial acquisition, subsequent additions, and renovation works by The Assembly Place is expected to be approximately SGD 2.25 million, of which SGD 1.88 million will come from the funds raised in the company's initial public offering (IPO), and the remaining portion will be raised through internal cash resources The founder and president of The Assembly Place, Lin Yingjie, said: "Through a joint investment strategy with our partners, we can maintain a light asset operation and execute in a rigorous and efficient manner. The new acquisition will enhance our hotel asset portfolio, allowing the company to seize more opportunities in Singapore's thriving tourism industry."

The stock price of The Assembly Place opened lower on Monday, having fallen 2.13% to 0.23 yuan as of 10:19 AM

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**