Archive for category: Misc

Over the launch weekend, around 84% of the 706 units in Zyon Grand were sold, amounting to about 590 units by 6pm on Oct 26. The average price per square foot (psf) for the sold units was $3,050. This development, a joint venture between City Developments Ltd (CDL) and Mitsui Fudosan (Asia), was launched for preview on Oct 8, followed by VIP sales on Oct 24 and the public launch on Oct 25.

Located on Kim Seng Road, Zyon Grand is a 99-year leasehold development comprised of two 62-storey residential towers and a 36-storey tower with 350 serviced apartments, situated on top of a retail podium. The podium, called Zyon Galleria, will feature retail and F&B outlets, a supermarket, and an early childhood development centre. Notably, it is the only mixed-use development with direct access to the Havelock MRT Station on the Thomson–East Coast Line.

Zyon Grand is the last new launch in the River Valley area this year, following the launches of River Green and Promenade Peak in August. It serves as a key test of the market’s resilience in the Core Central Region (CCR) and the Rest of Central Region (RCR) boundaries, which have become increasingly blurred.

According to CDL, the majority of buyers are Singaporeans, with 14% comprising of Permanent Residents (PRs) from various nationalities such as China, Malaysia, India, Indonesia, South Korea, and Japan. Due to strong demand, all unit types, ranging from 474 sq ft one-bedroom plus study units to 1,819 sq ft five-bedroom units, saw significant sales. It was reported that one of the two 5-bedroom penthouses was sold for over $10 million.

CDL’s group CEO, Sherman Kwek, believes that the high take-up rate reflects the market’s trust in this iconic mixed-use development and the genuine demand for exceptional homes in a desirable neighbourhood. He also highlights the project’s unbeatable location, with direct access to Havelock MRT Station, making it appealing to buyers who value convenience, connectivity, and quality in the heart of a lively district.

According to Huttons Data Analytics, more than 80% of the three-bedroom plus study and bigger units were sold at prices of $3 million and above. Mark Yip, CEO of Huttons Asia, notes that this strong demand proves the depth of liquidity in the market.

Yip also points out that, typically, properties in prime areas attract more owner-occupiers, a trend seen with the three-bedroom and bigger units at Zyon Grand. He reports that more than 85% of the three-bedroom units were sold, while 81% of the four-bedroom units were taken up.

ERA Singapore’s CEO Marcus Chu highlights the unique appeal of Zyon Grand’s city-fringe location, which has an affinity with the CCR. He believes that it presents buyers with an exclusive opportunity to own an RCR property at an attractive price point, combining accessibility, quality, and central convenience. Chu also notes that the robust sales reflect a growing demand for developments that offer residential, retail, and lifestyle amenities in one address.

Furthermore, Justin Quek, deputy group CEO of Realion (OrangeTee & Tie Group), notes that aside from young couples who typically prefer prime city locations, Zyon Grand has also attracted families due to its proximity to popular schools within a 1km to 2km radius. These schools include Alexandra Primary School, River Valley Primary School, and Zhangde Primary School. Quek also mentions that upgraders have contributed to the strong demand, leveraging on the high resale prices of HDB flats in nearby towns, such as Bukit Merah and Queenstown, where newer four- and five-room flats (under 20 years old) have exceeded $1 million in 3Q2025.

Quek further explains that the harmonisation of saleable, strata, and gross floor area has made the prices more accessible for this city-fringe development. He attributes the robust response to the reputable developer, well-conceptualised project that caters to market needs, and sound location fundamentals.

.

The Master Plan of the Urban Redevelopment Authority (URA) has designated Tampines as a key area for growth and development. One of the key initiatives in this plan is the improvement of public transport infrastructure. As part of this plan, the upcoming Rivelle Tampines EC by Sim Lian Land is set to offer a myriad of benefits to its future residents. These include the addition of new cycling paths, pedestrian-friendly walkways and seamlessly connected links between MRT stations and bus interchanges. For more information, please visit Rivelle Tampines Sim Lian Land’s website.

Zyon Grand is also the first private residential project to feature the Long-Stay Serviced Apartments (SA2), a new category of serviced apartments introduced by the government. The minimum stay for these apartments is three months, catering to the rental housing demand. This is pointed out by Kelvin Fong, CEO of PropNex, who believes that this also contributed to the high sales, along with the lower interest rates that have made borrowing more affordable. As of Oct 24, the 3-month compounded Singapore Overnight Rate Average (SORA) stands at 1.385% per annum – the lowest it has been in over three years. Fong also predicts another interest rate cut by the US Federal Reserve in the following weeks based on the softening US job market and stable inflation.

October has been a busy month for major project launches, with Zyon Grand being the fourth, after Skye at Holland (666 units), Penrith (462 units), and Faber Residence (399 units). Combined, these four projects have launched a total of 2,233 units, and over the launch weekend, 2,039 units were sold (91%). Yip believes this could lead to a record-breaking month for developer sales, with a projected 2,200 units sold, making it the best month for sales in 2025. He also predicts that developer sales for the year could reach 11,000 units, the highest since 2021.

With the success of Zyon Grand rounding off a strong year for new launches in River Valley, attention now turns to the precinct’s next debut – River Modern by GuocoLand. This 455-unit development is estimated to launch in the first quarter of 2026 and comprises two high-rise residential towers with commercial shops on the first level, facing the Singapore River. It is also directly linked to the Great World MRT Station (Thomson-East Coast Line) and the Great World shopping mall.

In February 2025, GuocoLand secured the 126,326 sq ft, 99-year leasehold site (known as River Valley Green Parcel B) in a government land tender, submitting the highest bid among five received at $627.84 million, or $1,420 psf per plot ratio. River Modern will be situated adjacent to River Green, occupying River Valley Green Parcel A. Check out the latest listings for Zyon Grand properties.