[New Launch] 32 Gilstead: A New Development in the Core Central Region

Luxury boutique development 32 Gilstead was launched in April with little fanfare. Developed by Hong Leong Holdings, the low-rise, low-density project sits within a quiet residential enclave off Newton Road and Dunearn Road in prime District 11.

To date, three units have been sold, with prices ranging from $14.4 million ($3,431 psf) for a 4,198 sq ft corner unit on the second floor to $14.54 million ($3,455 psf) for a 4,209 sq ft corner unit on the third floor. URA data shows that two of the units were purchased by Singapore Permanent Residents (PRs), while the third was bought by a Singapore Citizen. All three buyers are believed to be of Chinese origin.

32 Gilstead is one of two new projects launched in the Core Central Region (CCR) in 2Q2024.

The other is Skywaters Residences, where a 7,761 sq ft penthouse on the 57th floor was sold for $47.34 million ($6,100 psf). According to URA data, the buyer is listed as "Foreigner - Unspecified", but market sources believe the purchaser is a Chinese national with US citizenship, who enjoys the same stamp duty treatment as Singaporeans.

Comprising 190 units, Skywaters Residences is part of the mixed-use development The Skywaters (the redevelopment of the former 8 Shenton Way). Upon completion in 2028, it will be Singapore's tallest tower, standing 63 storeys and 305m tall.

At a top price of $6,100 psf, Skywaters Residences is the first 99-year leasehold residential project to cross the $6,000 psf mark.

Renowned designers in the luxury arena

The freehold 32 Gilstead features three adjoining five-storey blocks. Each residential block features only one unit per floor: four-bedroom apartments ranging from 3,821 sq ft to 4,291 sq ft. Each unit at 32 Gilstead boasts a frontage of up to 14.7m, spanning the full width of the living, dining, and lounge bar areas. The living room opens onto a 9m-long balcony overlooking a bamboo garden.

The granite-and-glass facade of 32 Gilstead bears the signature style of Argentine architect Ernesto Bedmar, known for designing good class bungalows in Singapore's prime districts as well as villas in Delhi and Jakarta.

Japanese Zen Buddhist monk and landscape architect Shunmyo Masuno is designing a bamboo garden featuring walking trails, reflecting pools, seating areas, and stones sourced from Japan. The garden will take up approximately half of the site area.

A bamboo garden of this scale has never been seen before in a residential development. The developer wanted to create a serene, understated sanctuary for the owners of these $14 million to $15 million homes.

The condominium's clubhouse has been carved out from one of the ground-floor units, with a dining room that seats up to 14 people. Other recreational facilities, such as the children's pool, adult lap pool, and barbecue pits, are located on the rooftop.

Osaka-born, Singapore-based interior designer Koichiro Ikebuchi was appointed to design the interiors of 32 Gilstead.

Timber flooring will be laid throughout the living and dining areas, lending warmth to the home. The kitchen will be fitted with Italian tiles, Middle Eastern quartz countertops, and high-end German Gaggenau kitchen appliances. The master bathroom will feature Italian mosaic tiles, marble countertops, and ash laminate cabinetry.

The developer offers buyers the option of timber sliding partitions to segregate the family room from the living area—ideal for families with children who enjoy entertaining at home. Tucked behind the family room are the kitchen and bedrooms.

Ultra-spacious bespoke residences

Construction of 32 Gilstead is underway, with completion expected in 1Q2026. For high-end developments, seeing is believing. With only 14 exclusive luxury residences, every transaction counts. Offering ultra-large, bespoke homes, the focus is squarely on uncompromising quality.