Location & neighbourhood
The Peck Hay Road site occupies a ~59,347 sqft plot on the junction of Peck Hay Road and Scotts Road in District 9, positioned directly opposite Sheraton Towers and adjacent to the NEA building at 50 Scotts Road. The site is 210 metres (3 to 4 minute walk) from Newton MRT Interchange.
Newton/Scotts Road sits in a transitional zone between Orchard Road's retail density and the Novena/Thomson residential belt. The micro location is quieter than Orchard proper, with a walkable streetscape that includes Newton Food Centre (a genuine hawker institution), Monk's Hill Road's conserved low rise houses, and the beginnings of a mixed residential F&B corridor. The URA Draft Master Plan 2025 has formalised this as an "urban village" transformation node, the first concrete planning signal that this corridor is actively being upgraded, not just held.
The developer
The tender closed 11 June 2026. CDL Constellation Pte Ltd and Garden Estates (Hong Leong Group) submitted the reported top bid at about S$542.4M, roughly S$1,865 psf ppr, per EdgeProp and The Edge Singapore. Formal award confirmation and the developer's own announcement were still pending at time of writing. Contextual signals from the broader Newton corridor tender pipeline:
- A separate Bukit Timah Road GLS site (also Newton corridor, ~340 units) was awarded in November 2025 to HH Investment at a top bid of $566M (~$1,820 psf ppr). The reported Peck Hay Road land rate of ~$1,865 psf ppr sits above that benchmark, consistent with its closer MRT proximity.
- At the reported $1,865 psf ppr land rate, developer breakeven likely sits above the earlier $2,800 to $3,000 psf estimate; treat this brief's $3,200 to $3,500 psf launch projection as a floor rather than a ceiling pending the developer's own figures. This is directional, individual developer cost structures, unit mix decisions, and sales timing will all shift the final number.
- Both Sim Lian and Hoi Hup/Sunway submitted bids in the Bukit Timah corridor process, both capable of delivering CCR product at this scale.
Unit mix & layouts
No floor plans have been released yet. Based on the site's gross floor area (~290,811 sqft) and the developer's reported plan for approximately 380 units, and comparable CCR GLS developments:
- Average unit size likely 500 to 900 sqft, consistent with developer strategy to manage quantum and broaden the buyer base in the CCR.
- Mix likely skewed toward 1BR and 2BR formats given CCR investor and expat demand profile, efficiency is paramount at $3,200+ psf where absolute prices on a 3BR exceed $3M.
- A high rise tower is expected; the joint venture has reported a 39 storey plan, consistent with the plot ratio of 4.9 and CCR land norms for this site.
- Stack orientation matters: eastern facing stacks may overlook the low rise Monk's Hill conservation area (premium potential); western stacks face Scotts Road and may carry road noise exposure.
Efficiency and layout quality assessment will only be possible once the developer publishes schematics, expected earliest late 2026 or early 2027.
Indicative pricing & PSF context
The most relevant active transaction benchmark is Kopar at Newton, a 99 year leasehold condo on the same Newton MRT catchment, launched at ~$1,900 psf in 2020, now transacting in the $2,500 $2,870 psf resale range in 2025. Kopar represents roughly 30% appreciation from launch over 5 years on a 99 yr leasehold CCR product.
| Project | Tenure | Recent PSF (2024 to 2025) | Notes |
|---|---|---|---|
| Kopar at Newton | 99 yr | $2,500 $2,870 | Nearest LH benchmark; same MRT catchment |
| Sanctuary @ Newton | Freehold | ~$2,760 $2,870 | FH premium vs LH visible |
| River Green (D9, River Valley) | 99 yr | $2,846 (launch 2025) | CCR peer; different sub-zone |
| Bukit Timah Rd GLS (Newton corridor) | 99 yr | ~$3,500+ (projected, 2028 to 2029) | Direct competitor; same launch window |
At a projected Peck Hay Road launch PSF of $3,200 $3,500, buyers are paying for the Newton Interchange proximity premium on a 99 year lease. Comparable freehold product in the same neighbourhood trades at $2,760 $2,870 psf resale, which means LH buyers at launch will be paying above the prevailing FH resale market level. That is not necessarily wrong (new launch premium + MRT adjacency premium are real), but it requires confidence in continued CCR price appreciation through the hold period.
Schools, amenities & connectivity
Primary schools within 1km: Anglo-Chinese School (Junior), top 30 nationally, strong demand from both ACS track families and expats choosing the school for English medium primary education. St Joseph's Institution Junior also within 1km. The ACS(J) address is a proven demand driver that creates a captive buyer segment at resale and supports rental premiums from school anchored expat tenants.
Secondary and tertiary: Singapore Chinese Girls' School (Primary and Secondary), River Valley Primary, St Margaret's Primary within 2km. National Junior College within 15 minutes by MRT.
MRT connectivity: Newton MRT Interchange (3 to 4 min walk) serves both the North South Line (direct to Orchard, City Hall, Bishan) and Downtown Line (direct to Bugis, Promenade, Marina Bay, and the Buona Vista tech corridor). This dual line interchange capability is materially more valuable than a single line station for rental tenants commuting across the island.
Healthcare: Gleneagles Hospital (~1km), Mount Elizabeth Novena (~2km), Tan Tock Seng (~2.5km). Newton/Scotts Road sits in one of Singapore's highest density medical cluster corridors.
Retail and F&B: Newton Food Centre (5 minute walk), United Square shopping mall (~1km), Novena Square (~1.5km). Orchard Road full retail corridor accessible in 2 MRT stops. The site is not immediately adjacent to a mall, acceptable for the CCR owner occupier and expat tenant profile, both of whom tend to favour restaurant dining over mall proximity.
Expressways: CTE access from Newton Road, connecting north to Bishan and south to CBD. PIE accessible via Clemenceau/Buona Vista corridor.
Investment thesis
- Newton Interchange at 210 metres: Dual line interchange proximity in the CCR is exceptionally rare. The only other recent CCR GLS with comparable MRT walk times launched at materially higher PSF. Transport infrastructure does not move, this is a structural asset embedded in the address permanently.
- ACS(J) 1km catchment drives predictable rental demand: Foreign families, expat couples, and Singaporean ACS track families all anchor residence decisions around the school's 1km priority phase. That demand is cyclically stable and recurs annually as new intake families enter the market. It is not correlated to the broader property cycle in the same way pure investment demand is.
- Newton Urban Village transformation: URA Master Plan 2025 commits to ~5,000 new homes in the Newton/Scotts corridor, rezoning several plots from Reserve Site to White Site (mixed use, higher density), and developing a linear park on Monk's Hill Road. Peck Hay Road is the first residential signal into this committed uplift, buyers in 2028 are entering before the transformation is visible on the ground.
- Thin CCR supply pipeline: Peck Hay Road and River Valley Green Parcel C together add only ~785 units to a CCR market that has been starved of new launches for several years. Scarcity supports pricing power and absorption velocity at launch.
Risks & what to stress test
- 99 year leasehold at freehold comparable pricing: At $3,200 $3,500 psf launch, buyers are paying close to or above freehold resale pricing in the same neighbourhood. The 15 to 20% tenure discount that should theoretically apply to LH versus FH is not evident in the indicative pricing. As the lease wears toward year 40+, the tenure discount will begin to structurally price into the asset, this is a 20 to 30 year horizon risk, but one that matters for buyers considering intergenerational holding.
- Two Newton corridor launches competing simultaneously: The Bukit Timah Road GLS (HH Investment, est. $3,500+ psf, 2028 to 2029 launch) targets the same Newton buyer profile in the same window. Buyer attention will be split between two CCR new launches, potentially slowing absorption for both.
- ABSD sensitivity of CCR buyers: At $3,200+ psf, the majority of investors are Singapore Citizens buying a second property (20% ABSD) or PRs (30% ABSD on second property). Any cooling measure tightening or ABSD rate increase will hit the CCR price bracket disproportionately, CCR demand is structurally more ABSD sensitive than OCR.
- Developer unknown until June 2026: Until the tender award is announced, there is no design, no floor plans, no developer track record to assess for this specific project. Buyers who act on the site's locational merits alone are making a decision based on incomplete information. Monitor the URA tender result announcement and wait for schematic release before committing.
Winfred's take
The Peck Hay Road site is the most straightforward location thesis in the 2026 GLS programme. Newton MRT Interchange at 210 metres, ACS(J) within 1km, inside a URA committed urban village growth zone, these are not marketing constructs. They are physical facts that will not change regardless of which developer wins the tender. The location is not in debate. What is in debate is whether the indicative launch PSF of $3,200 $3,500 on a 99 year lease is a fair entry price for those structural merits. My read is that it is full pricing, not discounted pricing. Buyers are not getting a value entry, they are paying market clearing for a best in class MRT adjacent CCR product, which is exactly what the GLS tender process is designed to produce.
Who this suits: CCR investors with a 7 to 10 year hold horizon who want school anchored rental demand, dual line MRT accessibility, and exposure to the Newton Urban Village transformation story. Also suited to owner occupiers who work in the CBD or Orchard corridor and value a 3 stop commute over a car dependent lifestyle. Who it does not suit: buyers expecting a freehold tenure (this is 99 year), investors targeting yield (CCR gross yield at this PSF level will be 2.8 to 3.2% before costs, this is a capital appreciation play, not a cashflow play), or anyone who needs the project in the next 2 years (earliest launch is H2 2028, completion ~2032). Book the Property Portfolio Analysis after the tender result is announced in June 2026, that is when the real numbers become available to model.
Related reading
- ABSD Singapore 2026: every rate, every remission, every legal angle
- D9 Orchard / River Valley, Singapore property district guide
- Run your Property Portfolio Analysis
Book a Property Portfolio Analysis on Peck Hay Road Residences
We model your ABSD exposure at the $3,200 $3,500 psf price band, run the all-in cash and CPF cost stack, and stress test the yield and capital return assumptions over a 7 year hold. Most CCR buyers come in with the location thesis right and the financial model incomplete, the Property Portfolio Analysis fixes that. Thirty minutes, written output.
Winfred Quek is a salesperson of Crestbrick Pte Ltd (CEA Licence No. L31010886H), advising Singapore upgraders, investors, and family offices using the Property Portfolio Analysis framework. CEA R073319H. This brief is for informational purposes only and does not constitute financial or legal advice. All pricing figures are indicative estimates pending the GLS tender outcome and developer announcement.