Cover Projects Launches Initial Sama Boutique Serviced Apartment Heritage Building 26 Evans Road
Cover Projects, a turn-key operator founded in 2015 by Lim Keong Wee and Victoria Loh, has recently launched its largest serviced apartment project, The Initial Sama. Located at 26 Evans Road, the 92-unit complex welcomes its first guests on July 21.
The name Sama, derived from the Sanskrit word meaning “balanced” or “well-maintained”, reflects the concept of the project as a wellness compound. The building reconstruction and unit layouts were designed by Cover Projects, while the landscape design was done by Singapore-based Grant Associates.
The property sits on a 153,821 sq ft site and consists of four blocks with a total of 92 serviced apartments. The units range from studios to two-bedroom apartments, with 35 studios (226 sq ft), 33 one-bedroom superior units (376 sq ft), 12 one-bedroom deluxe units (452 sq ft), and 12 two-bedroom units (699 sq ft).
Each apartment is equipped with a TV, bathroom essentials and toiletries, linens and bedding, as well as complimentary Wi-Fi. The studios and one-bedroom superior units come with a pantry and compact kitchenette, while the one-bedroom deluxe and two-bedroom units have a fully equipped kitchenette. The property also offers housekeeping, 24/7 reception and concierge, and security services. Additional services such as airport transfers, laundry and dry-cleaning, and room service are available at an extra cost.
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Among the facilities are a bathhouse, gym, guest lounge area, kids’ playground, multi-functional meeting room, and outdoor swimming pool. The Initial Sama has also partnered with external healthcare providers, including Artisan Esthetic Dental, a dentistry clinic, and two new-to-market restaurants, Yara and Elixir.
For a promotional rate, the two-bedroom units are offered for $525 per day, while the one-bedroom superior units are approximately $230 per day and the deluxe units are $310 per day. Studios are available for $190 per day.
The property’s prime location in the mature neighbourhood of Evans Road, near the Singapore Botanic Gardens, is its biggest appeal. It is also close to MOE HQ (Evans Road), which offers various sports facilities and is managed by Sport Singapore. Other nearby amenities include hospitals such as Gleneagles Hospital, Camden Medical Centre, and Mount Elizabeth Hospital, as well as the Botanic Gardens Interchange for easy transportation.
According to Lim Keong Wee, managing director of Cover Projects, they have received strong interest from expectant mothers and their families who are looking for accommodation during their confinement period. The two-bedroom units, in particular, were designed with this niche group in mind, as they complement the wellness services provided by the property.
Lim notes that the trend for properties that combine high-quality accommodation with wellness is on the rise in Singapore, and The Initial Sama aims to be a prominent player in this market. They expect corporate bookings to make up half of their guests.
Cover Projects’ previous experience in the lodging market was managing a 30-room serviced apartment called The Initial Residence in Balestier. Their success in this project led them to win the tender for managing the heritage properties at 26 Evans Road in 2023. Lim estimates that the company has invested between $10 million and $13 million in reconstruction to bring the property up to standard.
With a 5+4 year lease term, Cover Projects plans to stabilize operations and increase occupancy from the current 30% to 80% by the end of next year. Lim adds that they have attracted private investors who recognize the company’s potential as a premium wellness-centric residence operator.
In the future, Cover Projects aims to grow its profile in Singapore as a hospitality management business and collaborate with asset owners to reposition or uplift existing properties with their brand and value proposition. Overall, the launch of The Initial Sama showcases their ability to deliver a premium product to the market and solidifies their stake in the wellness niche.