CDL’s Lucerne Grand launch moves 61% of 570 units at average S$2,480 psf
Prices at the 99-year Jurong Lakeside project start from S$1.5 million for a two-bedroom unit
[SINGAPORE] City Developments Ltd’s (CDL) Jurong condominium project Lucerne Grand sold 61 per cent of its 570 units at its weekend launch, the developer said on Sunday (Oct 4).
A total of 350 units were sold as at 6 pm on Sunday, in the project that was priced on average at S$2,480 per square foot (psf).
Approximately 93 per cent of the buyers are Singaporeans, while the remaining 7 per cent are permanent residents from countries such as Malaysia, China and India.
Prices at the 99-year Jurong Lakeside project started from S$1.5 million for a two-bedroom unit, S$2 million for a three-bedroom and S$2.8 million for a four-bedroom, which PropNex CEO Kelvin Fong said was “relatively affordable”.
“All unit types were well received, with two, three and four-bedroom premium units being the most popular,” said CDL in a press release.
The development has a commercial space on the ground floor and is directly linked to Lakeside MRT, located on the East-West Line.
CDL clinched the plot of land in June 2025 for S$608 million or S$1,132.08 per square foot per plot ratio.
The take-up puts Lucerne Grand within range of the five mixed-use projects launched this year, said Nicholas Mak, chief research officer at Mogul.sg, noting that the launch-weekend sales of the mixed-use projects ranged from 56.9 per cent at Newport Residences to 98.8 per cent at Tengah Garden Residences, he added.
Analysts attributed the “healthy” take-up rates partly to the close proximity to the MRT station.
SEE ALSO
“The location provides residents with excellent accessibility and convenience to one of the most heavily used MRT lines,” said Mak.
He noted that the recently launched Amberwood at Holland – which sold only 11 per cent of 212 units – is about 1.5 km or a 20 minute walk to its nearest MRT station.
Justin Quek, deputy group CEO of Realion, noted that buyers were also “enticed” by the provision of retail space within the development, boosting convenience for the residents.
The development’s location near the Jurong Lake District, which is envisioned to become Singapore’s largest business district outside the city centre, also provided a positive long-term backdrop, said PropNex’s Fong.
Sherman Kwek, CDL group CEO, said: “We are encouraged by the healthy response at Lucerne Grand, which reflects homebuyers’ appreciation for its distinctive combination of connectivity, convenience and nature.”
Demand could have been driven by the presence of a broad range of educational institutions, said Mohan Sandrasegeran, head of research and data analytics at SRI.
Mak noted that there are seven primary schools within a 2 km radius of the project.
Sandrasegeran also pointed out that the last private residential launch in the Jurong West area was in 2016.
Mak added that there is a large population of some 598,160 people living in the areas surrounding Lucerne Grand, such as Jurong East, Jurong West, Clementi and Bukit Batok.
“The substantial population forms a large catchment of homebuyers and HDB upgraders,” he said.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
