CDL to launch freehold Newport Residences with prices upward of S$3,012 psf

[SINGAPORE] City Developments Ltd ( CDL ) will soon start previews for its long-awaited prime downtown project Newport Residences, with prices starting at just under S$1.3 million for one-bedroom units. 

Located along Anson Road in prime District 2, on the site of the former Fuji Xerox Towers building, the freehold luxury project will house 246 residential units set between the 23rd and 45th floors of the mixed-use development Newport Plaza. 

On the 10th to 22nd floors will be branded serviced apartments, with Grade-A offices and restaurants situated just below. Overall, Newport Plaza spans about 54,802 square feet with a gross floor area of about 655,000 sq ft. 

Newport Residences’ smallest units, one-bedders sized from 431 to 581 sq ft, are priced just shy of S$1.3 million or S$3,012 per square foot (psf). 

Prices start at S$1.97 million or S$3,046 psf for two-bedders sized 646 to 926 sq ft; S$3.24 million or S$3,304 psf for three-bedders sized 980 to 1,227 sq ft; and S$8.28 million or S$4,006 psf for four-bedders of 2,067 sq ft. 

The biggest unit is a penthouse “bungalow in the sky” stretching 12,960 sq ft with a dedicated lift and two private car park lots, with price on application. 

Some 44 per cent of homes, or 108 units, are one-bedders. There are 87 two-bedroom units, 32 three-bedroom units,18 four-bedroom units, and one penthouse.

Newport Residences’ launch follows a prolonged postponement. 

It was scheduled to start previews in April 2023, but plans were pushed back after the government hiked additional buyer’s stamp duty (ABSD) rates amid efforts to curb investment demand.

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Foreigners – who typically account for a larger share of sales in the prime Core Central Region than in the city fringe and suburban areas – now face ABSD of 60 per cent.  

“With the latest property-related measures... the market will need time to absorb the news,” a CDL spokesperson told The Business Times at the time. “We will monitor market conditions closely and unveil its launch at an appropriate time.” 

In a press release on Wednesday (Jan 14), CDL group chief executive officer Sherman Kwek said: “With strong and resilient demand for recent new launches in prime areas, such as our Zyon Grand project, the time is right to unveil this rare freehold offering with commanding views of the Central Business District and the future Greater Southern Waterfront.”

CDL and Mitsui Fudosan’s Zyon Grand condominium in River Valley recorded a take-up rate of 84 per cent at an average price of S$3,050 psf over its launch weekend in October 2025, making it one of the year’s top-performing new launches.

Within Newport Residences’ vicinity, four other projects are under construction: One Marina Gardens, Skywaters Residences, W Residences Marina View Singapore and One Bernam. Altogether, the five developments are expected to yield more than 2,400 residential units.

Most recently, in October, Malaysian giant IOI started marketing its 683-unit luxury project W Residences Marina View Singapore, with 100 units offered for sale in the first phase at prices starting from S$3,230 psf. This followed an earlier private preview for VIP and invited clients in July. 

Since then, five units have been sold at a median price of S$3,352 psf, caveats data showed. The latest transaction was for a 797-sq-ft unit for S$2.6 million or S$3,302 psf in late November. 

Earlier in April, the 99-year leasehold One Marina Gardens sold 353 units, or 38 per cent of its 937 units, at an average price of S$2,953 psf over its launch weekend. 

Data from URA Realis indicated that the median price of new non-landed private homes in District 2 was S$2,523 psf in 2025. For resales, the median price was S$2,172 psf, and sub-sales, S$2,726 psf. 

The most recent resale transaction was for a 603-sq-ft unit at the freehold Spottiswoode Residences at S$1.35 million or S$2,240 psf in late December. 

In the primary market, the latest sale was an 872 sq ft unit at One Bernam for S$2.16 million or S$2,481 psf in February 2025. 

Public previews for Newport Residences start on Friday, with sales bookings starting on Jan 31. The project is expected to receive its notice of vacant possession on Mar 1, 2030.