Weave Living Opens 99-Suite Freehold Serviced Apartment In Novena From $5,600 Per Month

Hong Kong-based co-living operator will open its newest property in Singapore, Weave Suites – Novena, on Apr 15. Located at 12 Shan Road, Weaves Suites – Novena is close to HealthCity Novena and Novena MRT Station on the North-South Line.

The newly revamped development adds 99 serviced suites to the Novena area, bringing Weave Living’s total Singapore portfolio close to 400 units and a combined portfolio asset value of approximately USD 600 million (S$772 million).

With the opening, Weave Living’s local portfolio now comprises four properties: Weave Suites – Novena, Weave Suites – Midtown, Weave Suites – Hillside, and Weave Residences – East Coast.

The new Novena property was acquired in 2025 for over S$100 million through a joint venture with a fund managed by global asset management firm BlackRock, alongside Singapore’s Lian Beng Group.

This is Weave Living’s second collaboration with BlackRock in Singapore, following the acquisition of the former Citadines Mount Sophia for $148 million in 2024.

What Weave Suites – Novena offers

The 99 suites at Weave Suites – Novena comprise 78 standard units and 21 dual-key configurations, ranging from open-plan studios to one- and two-bedroom apartments.

Facilities on site include a 24-hour gym, swimming pool, rooftop barbecue grill, and children’s playground, as well as a 24-hour front desk and a team of Community Ambassadors.

Suites start from $5,600 per month, which is above the $3,800 per month at Weave Residences – East Coast, and a step up from the $4,600 per month at Weave Suites – Hillside.

Weave Living says its housekeeping model has been designed to cater to residents across different stay durations. The property has also partnered with third-party providers for add-on services, including breakfast options, bike rentals, and airport transfers, which are all available for an additional fee.

The new property is also well positioned to capture some of the affluent medical tourism serviced by the nearby medical suites and healthcare services in Novena. The wider Novena precinct has developed into one of the densest concentrations of medical infrastructure in Singapore.

Sachin Doshi, Founder and Group CEO of Weave Living, describes the development as representing the future of contemporary living, adding that its positioning within Singapore’s medical and wellness precinct gives the property a unique edge.

Medical and healthcare services in the area are anchored by the development of HealthCity Novena, an integrated healthcare and learning campus helmed by Tan Tock Seng Hospital and designed to advance health, well-being, and community living.

The medical complex boasts 15 integrated buildings, eight hectares of greenery, and a comprehensive network of aerial bridges, basements, and street linkages across the campus.

The area is home to multiple medical institutions, including Tan Tock Seng Hospital, Johns Hopkins Singapore International Medical Centre, National Centre for Infectious Diseases, National Neuroscience Institute, Novena Medical Center, Novena Specialist Center, Mount Elizabeth Novena Hospital, National Skin Centre, Thomson Medical Centre, and KK Women’s and Children’s Hospital.

That is a significant number of major healthcare facilities in proximity to one another, and that density helps to boost demand for serviced apartments and upmarket accommodations in the area.

As the campus continues to scale up, so does the number of healthcare professionals, researchers, international faculty, and support staff working in or rotating through the precinct. The completion of the HealthCity Novena Master Plan is set for 2030.

Medical professionals, particularly those on fixed-term postings, overseas fellowships, or rotating shifts, tend to look for flexible housing that is fully managed and close to their workplace. Weave Suites – Novena, with its dual-key configurations and differentiated housekeeping model, fits reasonably well into that profile.

The medical tourism angle

Singapore’s role as a regional medical tourism destination has grown considerably, and Novena sits at the centre of that pull. In 2024, 646,000 international patients reportedly received medical treatment in Singapore, generating an estimated USD 270 million (S$347.4 million) in revenue, up from USD 220 million (S$283.1 million) in 2020. The sector is projected to grow up to 20% annually through 2033.

More than half of Singapore’s medical tourists are from Indonesia, with approximately 250,000 Indonesians visiting the country for medical care each year. Many of these patients do not travel alone. They arrive with family members or caregivers, and their stays can stretch from days to several weeks, depending on the procedure and recovery period.

A serviced apartment or co-living suite, particularly one within walking distance to the hospital, offers something that a hotel typically does not: a more liveable setup for an extended stay.

Novena as an expat address

Beyond healthcare professionals and medical visitors, Novena has built a consistent reputation as an expat-friendly neighbourhood in its own right. 

It sits on the North-South Line, five MRT stops from the city centre and two stops from Orchard, making it still a central option but without the hustle and bustle that comes with living closer in.

Other co-living operators are already active here for the same reasons, and the area is a familiar address for healthcare professionals and expats who want quieter residential streets without giving up on convenience.

Novena consistently ranks among Singapore’s neighbourhoods with the strongest long-term tenant demand, driven specifically by medical professionals working at local institutions and regional healthcare visitors.

Singapore’s non-resident population stood at 1.91 million as of June 2025, based on the Singapore Department of Statistics, and the broader foreign workforce remains a key driver of rental demand in centrally located areas.

For a serviced apartment operator, the case for Novena has always been fairly straightforward: its central location, MRT access, and a built-in catchment of healthcare workers and visiting patients that few other neighbourhoods can replicate.

BlackRock has backed the acquisition twice in Singapore, suggesting institutional investors see the same logic. But whether Weave Living’s pricing and product can convert that into consistent occupancy remains to be seen.