After 10 years, JCube will close JCube Residence in August to make way for CapitaLand’s 40-storey JCube Condo Residence, expected for completion in 2027. Price estimates for units ranges from S$2,000 to S$2,100 psf. It will be part of Jurong Lake District with links to amenities.

Units at Tembusu Grand, the third project by joint venture partners City Developments Ltd (CDL) and MCL Land, sold out at a rate of 53.3%. The launch of the project on Jalan Tembusu, just off Tanjong Katong Road, was on April 8th and in total 638 units were sold at an average price of $2,465 psf.

Singaporeans made up the majority of the buyers, accounting for 90%, with Permanent Residents (PRs) and foreigners accounting for the remaining 10%. Of the abroad buyers, those from China, Malaysia and the US were included.

Mark Yip, CEO of Huttons Asia, described the launch as “the best-selling project in the Rest of Central Region (RCR) to date”. With first-day sales exceeding 50%, the one-bedroom-plus-study, two-bedroom and two-bedroom-plus-study types proved popular for investors and first home buyers alike.

Nearly 100 units, consisting of three-bedroom, three-bedroom plus-study, four-bedroom and five-bedroom apartments, accounted for almost 30% of total units sold. This shows that there is still demand even in the current climate of uncertainty.

The last time a sizeable project was launched in the vicinity was the 360-unit Haig Court back in 2004, notes Yip. Location appears to be another factor in the strong sales, with Tembusu Grand being within 1km of schools such as Tanjong Katong Primary School, Haig Girls’ School and Kong Hwa School. It is also close to an eight-minute walk to the upcoming Tanjong Katong MRT station, and a short drive to the CBD, Marina Bay financial district and Changi Airport.

Buyers in their 30s prominently populated the sales figures. Similarly, Ken Low, managing partner of SRI, attributes Tembusu Grand’s average sale price of $2,465 psf to “the strong track record and popularity of the District 15 neighbourhood”.

CDL and MCL’s first launch of 2023, Tembusu Grand marks another successful collaboration between the two companies. Sherman Kwek, CDL group CEO, says it reflects “strong demand for well-designed homes in this sought-after locale”.

Their last two launches, Piccadilly Grand and Copen Grand, achieved strong results on the first day too, with 77% of Piccadilly Grand’s 360 units being sold at launch last May, and 73% of Copen Grand’s 639-unit executive condo being sold.

The current unsold residential inventory stands at 16,152 units, with a below-average completion of new homes anticipated from 2024, which bodes well for upcoming launches in 2023 and those looking for a property this year. The sales figures of Tembusu Grand are a testimony to “buyer confidence in bigger developments” according to PropNex’s Ismail Gafoor. He adds that it will definitely have a positive impact on Blossoms by the Park and The Continuum, which will be launched in the coming weeks.