Developer Kingsford Returns to Market with New Project The Hill @ One-North

Developer Kingsford Real Estate Development opened the sales gallery of its latest project, The Hill @ One-North, for public preview this weekend. The project is slated to launch for sale two weeks later on 20 April.

The Hill @ One-North comprises one seven-storey and two 11-storey residential blocks, situated on a 63,902 sq ft, 99-year leasehold site at Slim Barracks Rise.

EL Development launched Blossoms by the Park, a 275-unit development also located along Slim Barracks Rise, in late April 2023. The launch took place just three days after the latest round of property cooling measures kicked in, which included doubling the Additional Buyer's Stamp Duty (ABSD) for foreigners to 60%.

When Blossoms by the Park launched, over 200 units (73%) were snapped up on its first day of sales on 29 April 2023 at an average price of $2,423 psf. EL Development shared that Singaporeans and Permanent Residents accounted for 96% of buyers. Over the past year, Blossoms by the Park has achieved 87% sales, with very few units remaining.

Prior to Blossoms by the Park, the last new project launched in the One-North precinct was the nearby 165-unit One-North Eden. Developed by TID, a joint venture between Hong Leong Holdings and Mitsui Fudosan, the project achieved an 85% take-up rate on its launch weekend in April 2021 and was fully sold within a year.

Currently, The Hill @ One-North faces minimal direct competition, as neighbouring development Blossoms by the Park is already 87% sold. There is also no impending pipeline supply of new private residential launches in the immediate vicinity of The Hill @ One-North.

Further north, a GLS site was awarded in February to a joint venture between two Chinese developers, Qingjian Realty and Forsea Holdings (China Communications Construction Company). The Media Circle site, located further from the MRT station, is not expected to compete directly with The Hill @ One-North, as the tender was only awarded in February and it is unlikely to hit the market this year.

Developer's Acquisition Spree

Prior to its new projects, Kingsford's last residential venture in Singapore was the 1,862-unit Normanton Park. Despite its launch being delayed by two years after being slapped with a no-sale licence in early 2019, the project sold out within 18 months.

Buoyed by the project's stellar sales performance, the developer moved aggressively to acquire more land. Kingsford teamed up with MCC Singapore to acquire Chuan Park en bloc for $890 million.

A month later, a Kingsford-led consortium emerged as the top bidder among four contenders for a GLS site at Marina Gardens Lane. Kingsford's joint venture partners in the new development are two Chinese entities, Obsidian Development and Polarix Cultural & Science Park Investment. Together, they paid $1.034 billion ($1,402 psf per plot ratio) to acquire the 131,805 sq ft, 99-year leasehold land parcel at Marina Gardens Lane.

Kingsford is expected to develop a 790-unit residential project at Marina Gardens Lane, featuring 8,073 sq ft of commercial space on the ground floor. The new redevelopment on the former Chuan Park site will yield 916 units.

This year marks a pivotal period for Kingsford as it plans to roll out three projects over the course of 12 months.

Kicking off a bumper year with the launch of The Hill @ One-North this month, the developer will follow up with the Chuan Park project in July and the Marina Gardens Lane project towards the end of the year.

Among the three developments, The Hill @ One-North is the boutique offering. Unit layouts include two-, three-, and four-bedroom apartments. Indicative prices start from over $1.9 million for a two-bedroom, above $2.3 million for a three-bedroom, and upwards of $3 million for a four-bedroom unit.

The Hill @ One-North has yet to release its official price list. In pricing the units, the developer will take reference from transacted prices at nearby Blossoms by the Park. While its launch average stood at $2,423 psf, the 13 units sold since January have commanded a higher average of $2,558 psf.

Recent new launch sales demonstrate that two- and three-bedroom unit types remain the most sought-after. At The Hill @ One-North, two- and three-bedroom units comprise nearly 96% of the total units.

The Hill @ One-North is situated in the Rest of Central Region (RCR) within District 5. Set on sloping terrain, the development seamlessly blends into the adjacent 16-hectare One-North Park. 

Residential units at The Hill @ One-North will be fitted with smart home features, including lighting and air-conditioning controls, smart plugs, and digital locksets.

Facilities within the development include communal gardens, a swimming pool, clubhouse, BBQ pavilions, and a gymnasium. The project is slated for completion in December 2026.

In addition to residential units, The Hill @ One-North offers five commercial units for sale: four are street-facing, while the fifth is situated on the third floor, overlooking One-North Park.

Nearby Amenities and Growth Clusters

Buona Vista MRT station (an interchange on the East-West and Circle Lines) and One-North MRT station (Circle Line) are both within walking distance of The Hill @ One-North. Other nearby amenities include shopping malls such as The Star Vista and Rochester Mall, as well as dining destinations like Timbre+ One North, Holland Village Market & Food Centre, and Dempsey Hill.

The Hill @ One-North is nestled amidst a vibrant employment cluster spanning the One-North R&D precinct, Buona Vista, the National University of Singapore (NUS), National University Hospital (NUH), and Singapore Science Park.

The project is also in close proximity to reputable schools—such as Fairfield Methodist School (Primary and Secondary), Anglo-Chinese School (Independent), and Anglo-Chinese Junior College—making it highly appealing to young couples, families, and expatriates working in the area.

Given the hefty ABSD on foreign buyers and investors, the majority of purchasers are expected to be Singaporean first-time homebuyers and Permanent Residents.