Year-End New Launch Rush: Record Six Projects Launching in November

In an unprecedented move, developers are set to launch six new residential projects in November. These include CDL's 366-unit Union Square Residences, SingHaiyi and its joint venture partners' 367-unit The Collective at One Sophia, Sim Lian Group's 846-unit Emerald of Katong, MCL Land and Sinarmas Land's 552-unit Nava Grove, and the 504-unit Novo Place developed by Hoi Hup Realty and Sunway Developments.

Spread across the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR), these six projects will inject a total of 3,551 new homes into the market.

The number of units launched in the fourth quarter of 2024 is projected to surpass the total launched in the first nine months of the year combined. This is expected to drive robust new home sales, with the bulk of 2024's launches concentrated in the final quarter.

An Unprecedented Sight

Such a launch frenzy has never been seen before; even prior to the pandemic, the market typically saw at most three project launches on any given weekend.

Before COVID-19, the most memorable evening was 5 July 2018, when eager buyers snapped up over 1,000 units in under five hours just ahead of midnight cooling measures. Sales were concentrated across three launches that night: the 805-unit Park Colonial, the 1,472-unit Riverfront Residences, and the 1,259-unit Stirling Residences.

Back then, developers were forced to bring forward launches to beat cooling measures. Today, for different reasons, they are rushing to open previews ahead of the 1–2 November weekend.

Chuan Park

Kingsford Group announced that the sales gallery for Chuan Park will open for preview on 31 October. Previews will conclude on 12 November, with sales bookings commencing on 16 November.

Chuan Park is the redevelopment of the former condominium of the same name, which Kingsford acquired en bloc in May 2023 for $890 million. Located right next to Lorong Chuan MRT station in OCR's District 19, it marks the neighbourhood's first new launch in 14 years.

Spanning a site area of 400,500 sq ft, Chuan Park features 916 residential units across three 22-storey and two 19-storey blocks, along with two commercial units. Unit layouts range from two- to five-bedroom apartments, with sizes from 700 to 1,841 sq ft. Two-bedroom units start from over $1.5 million, 915 sq ft three-bedroom units start from over $2.1 million, 1,335 sq ft four-bedroom units start from $3.1 million, and 1,550 sq ft five-bedroom units start from $3.7 million.

Emerald of Katong

Sim Lian Group has announced that previews for the 846-unit Emerald of Katong will commence on 1 November, followed by sales bookings on 16 November. This 99-year leasehold condominium is situated along Jalan Tembusu near Tanjong Katong Road, a 5-minute walk from Tanjong Katong MRT station on the Thomson-East Coast Line. It is located in prime District 15 within the RCR.

Units range from one- to five-bedroom configurations, spanning 484 to 1,561 sq ft. Emerald of Katong is launched under the new gross floor area (GFA) harmonisation guidelines, where air-con ledges are excluded from strata area, thereby maximising liveable space and layout efficiency.

The Collective at One Sophia

SingHaiyi and its JV partners will open The Collective at One Sophia for preview on 1 November. Comprising 367 residential units, it forms the residential component of a mixed-use development at 1 Sophia Road that also features 122 strata office units and 127 retail shops.

The 99-year leasehold residential units range from studio and one-bedroom to three-bedroom apartments. Prices start from $1.14 million ($2,650 psf) for a studio, $1.346 million ($2,782 psf) for a one-bedroom, $1.709 million ($2,561 psf) for a two-bedroom, and $2.845 million ($2,782 psf) for a three-bedroom unit.

According to developer SingHaiyi, private preview sales will run from 6 November through to the end of the month, with The Collective scheduled for its official launch in January 2025.

Union Square Residences

City Developments Ltd (CDL) will preview the 366-unit Union Square Residences on Havelock Road on 1 November. Sales bookings, originally slated for 16 November, have now been brought forward to 9 November.

Union Square Residences features a 40-storey residential tower housing 366 apartments, with commercial spaces across the first and second storeys. It is part of a major mixed-use development integrating offices, retail, and F&B spaces. The project is a redevelopment of the former Central Mall (a seven-storey office block with a cluster of conservation shophouses) and Central Square (a mixed-use residential and commercial complex). It is strategically situated in District 1 within the RCR.

Homes range from one-bedroom units starting at 463 sq ft, two-bedroom units from 700 sq ft, three-bedroom units from 990 sq ft, and four-bedroom premium units from 1,518 sq ft. Two Sky Suites on the 38th and 39th storeys each measure 2,476 sq ft, while a single penthouse spans 4,833 sq ft.

Prices start from $1.38 million ($2,981 psf) for a one-bedroom unit, $1.998 million ($2,854 psf) for a two-bedroom, $2.82 million ($2,848 psf) for a three-bedroom, $4.62 million ($3,043 psf) for a four-bedroom premium, and $9.288 million ($3,751 psf) for the Sky Suites.

Bringing the sales launch forward by a week appears to be an astute move; the entry price of $1.38 million for a one-bedroom unit is highly attractive, and its prime District 1 address does not compete directly with other upcoming launches such as Chuan Park, Emerald of Katong, and Nava Grove.

Novo Place

Novo Place, an executive condominium (EC) located along Bukit Batok Road, will open for public preview on Saturday, 2 November. The preview weekend will also mark the start of e-applications for prospective buyers, closing on 12 November, with sales bookings commencing on 16 November.

Hoi Hup Realty and Sunway Developments are the joint developers of this 504-unit EC. Novo Place is located in Tengah's Plantation district, within easy walking distance of the upcoming Tengah Park MRT station on the Jurong Region Line, targeted for completion in 2028.

The EC development comprises seven 18-storey residential towers, with unit layouts ranging from three-bedroom to four-bedroom plus study configurations.

Prices start from $1.298 million ($1,489 psf) for an 872 sq ft three-bedroom unit, while an 883 sq ft three-bedroom plus study starts from $1.348 million ($1,527 psf). Larger 947 sq ft three-bedroom plus study units are priced from $1.463 million ($1,545 psf). Meanwhile, 1,012 sq ft four-bedroom units start from $1.581 million ($1,562 psf), and larger 1,163 sq ft four-bedroom plus study units start from $1.779 million ($1,530 psf).

Novo Place is the second EC launch of 2024 (following Lumina Grand in January) and is anticipated to see strong demand amid dwindling unsold EC inventory.

Nava Grove

The 552-unit Nava Grove, developed by MCL Land and Sinarmas Land, will open for preview on 2 November, with sales targeted to launch on 16 November.

Nava Grove is a luxury project offering a comprehensive mix of layouts from two- to five-bedroom apartments. Two-bedroom units from 624 sq ft start at $1.388 million ($2,224 psf). Three-bedroom units from 947 sq ft start at $2.188 million ($2,310 psf). Four-bedroom units starting at 1,335 sq ft are priced from $2.988 million ($2,238 psf). There is also a stack of 1,464 sq ft four-bedroom dual-key units priced from $3.468 million ($2,369 psf).

Next door, the 520-unit Pinetree Hill has sold 72% of its units to date at an average price of $2,456 psf. UOL Group and its joint venture partner Singapore Land Group launched the 99-year leasehold private condominium in July 2023.

The recent launches of 8@BT, Meyer Blue, and Norwood Grand delivered some of the strongest sales performances of 2024, signalling that buyers are returning to the new home market with renewed confidence.