[New Launch] Freehold CBD condo Newport Residences opens for preview, from $3,012 psf

Freehold private residential development Newport Residences, prime located in the heart of the Central Business District (CBD), will officially open for preview on 16 January, with sales slated to commence on 31 January. Prices start from $1.298 million, or around $3,012 psf, making it the first private residential launch in the Core Central Region (CCR) for 2026.

Project Overview

Developed by City Developments Limited (CDL), Newport Residences comprises 246 residential units across a variety of layouts:

1-Bedroom: Sized at approximately 431 sq ft, starting from $1.298 million

2-Bedroom: Sized at approximately 646 sq ft, priced close to $1.97 million (around $3,046 psf)

3-Bedroom: Starting from $3.238 million

4-Bedroom: Starting from $8.28 million

1 Super Penthouse: Spanning 12,960 sq ft on a single level, featuring an exclusive private lift and two dedicated parking lots (indicative price yet to be released by the developer)

Rare Freehold Tenure in Prime CBD

Situated in Tanjong Pagar, the freehold Newport Residences forms the residential component of the 45-storey mixed-use development, Newport Plaza.

The residential units occupy levels 23 to 45, offering an enviable combination of a prime CBD address, freehold tenure, panoramic high-floor vistas, and the integrated convenience of a mixed-use development.

New freehold private homes within the Central Business District are exceptionally rare, which analysts cite as a key factor supporting the development's sales prospects.

A Timely Launch Following a Two-Year Hiatus

The project was initially slated for launch in 2023. However, following the government's hike of Additional Buyer's Stamp Duty (ABSD) for foreigners to 60%, the developer decided to defer the preview.

CDL noted that demand for prime new homes has since remained steady and resilient, making this an opportune time to roll out this rare freehold offering.

What Analysts Say: 3 Key Drivers Underpinning Demand

Market analysts note that the appeal of Newport Residences lies not in short-term hype, but in its robust long-term fundamentals:

① Enduring Freehold Tenure
In the CBD, freehold properties carry immense legacy and trophy asset value.

② Established Location & Connectivity
As a key node in the CBD, Tanjong Pagar seamlessly integrates lifestyle amenities, Grade-A offices, and transport hubs.

③ Supply Vacuum in the Market
With nearby development One Bernam selling out early last year, a clear supply gap has emerged for prime CBD private residences.

Analysts generally believe that such homes primarily appeal to high-net-worth families, wealth preservation buyers seeking legacy planning, and long-term investors prioritising prime location and tenure over short-term market fluctuations.

Consequently, broader market swings are expected to have a relatively muted impact on Newport Residences.

Mixed-Use Integration Bolstering Long-Term Value

Furthermore, as part of an integrated development, Newport Residences coexists with premium office and commercial spaces, providing residents with everyday convenience, resilient long-term rental appeal, and solid capital preservation.

Market analysis indicates that the median price of new private homes in District 2 (including the CBD) has risen by over 11% over the past decade, underscoring the enduring scarcity and resilience of downtown residential properties.

Ultimately, Newport Residences stands out as a prime asset anchored by long-term value, legacy appeal, and scarcity. Amid a tight supply of CBD homes and dwindling freehold land, market reception is poised to remain positive.