SINGAPORE, 25 April 2025– Savills Singapore, as the exclusive sole marketing agent, is pleased to offer for sale 22 Keong Saik Road — a prized freehold conservation shophouse strategically located in the heart of Singapore’s most vibrant and historically rich neighbourhood under the Bukit Pasoh Conservation Area.
The beautifully preserved three-storey commercial shophouse, complete with a mezzanine level, spans a land area of approximately 1,258 sq ft and a gross floor area of approximately 3,305 sq ft. Offered with potential F&B approval and a secure tenancy in place, this rare asset presents a unique investment opportunity for investors seeking immediate returns and long-term capital appreciation in one of Singapore’s most culturally rich and sought-after urban quarters. Once known as a red-light district, Keong Saik Road has undergone a remarkable transformation over the last two decades. Named after Tan Keong Saik, a Malacca-born businessman remembered for his philanthropic contributions to education and women’s welfare, the area has retained its historical essence while emerging as one of Singapore’s most recognisable and photogenic heritage streets.
Unlike other conservation streets such as Bukit Pasoh or Ann Siang Hill — traditionally associated with religious or clan institutions – Keong Saik’s layered identity and grittier history give it an authenticity and edge that have drawn a new wave of creative entrepreneurs, restaurateurs, and boutique hoteliers. This juxtaposition of heritage architecture and modern reinvention has resulted in an eclectic mix of indie cafes, upscale dining establishments, creative studios, speakeasies, and boutique hotels, giving the area a distinct bohemian charm that continues to attract both locals and international visitors.
“Keong Saik is more than just a conservation area – it’s a compelling example of how a historic district can be organically revitalised by the community. The energy here feels personal, creative, and authentic. That’s what makes it so special,” says Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets, Savills Singapore.
22 Keong Saik Road enjoys exceptional accessibility, situated within walking distance of both Outram Park and Maxwell MRT stations, which connect to four major MRT lines — the East-West Line, North-East Line, Thomson-East Coast Line, and Downtown Line. The upcoming Cantonment MRT station, part of the Circle Line Stage 6 slated for completion in 2026, will further improve connectivity and increase pedestrian traffic, amplifying the commercial vibrancy of the neighbourhood.
“Properties like 22 Keong Saik Road don’t come to market often. The last transaction along the street was nearly 18 months ago, reflecting the tightly held nature of ownership in this area,” she adds. “22 Keong Saik Road combines a strategic location, long-term heritage value, and immediate rental stability. With the ongoing evolution of Keong Saik and upcoming infrastructure enhancement, this represents a rare opportunity to secure a flagship asset in one of Singapore’s most culturally significant and commercially vibrant precincts.” The guide price for 22 Keong Saik is $17.5 million, or $5,295 per square foot (psf). The last transaction along the street was 34 Keong Saik Road in July 2023. The 2,662 square feet shophouse was transacted at S$15.5 million, which translates to S$5,822 psf on floor area.
Foreigners and companies are eligible to purchase the properties and no Additional Buyer’s Stamp Duty (ABSD), or Seller’s Stamp Duty (SSD) will be imposed.
The sale will be conducted through an Expression of Interest exercise closing on Wednesday, 28 May 2025, at 3pm.
For further details or site inspections, interested parties may contact Savills Singapore directly.