CITY Developments Limited (CDL) is launching its Upper Bukit Timah area project, The Myst, for preview this Saturday (Jun 24), with indicative prices starting from S$1,862 per square foot and ranging from S$998,000 to over S$3.18 million.  

The 99-year-leasehold condominium comprises 408 residential units across two 24-storey towers on a 179,008 square-foot site. Located at 800 and 802 Upper Bukit Timah Road, the land parcel was previously acquired by CDL in April 2022 from automobile company Tan Chong International for S$126.3 million. 

The one-bedroom units, sized from 517 sq ft and including a study, start at S$998,000 or S$1,930 per square foot (psf). The two-bedroom units (from 678 sq ft) start at S$1.33 million or S$1,962 psf. The three-bedroom ones (from 850 sq ft) start at just under S$1.71 million or S$2,009 psf. The four-bedroom units (from 1,518 sq ft) cost about S$2.83 million or S$1,862 psf, and the five-bedroom units (at 1,690 sq ft), S$3.18 million or S$1,882 psf. 

Around a third of the units will be priced at “a sweet spot” of S$1.5 million and below, said CDL in a statement on Thursday (Jun 22). 

Recent launches in the area drew robust responses. Sim Lian Group’s The Botany at Dairy Farm sold nearly half its 386-units at an average price of S$2,070 psf over its launch weekend in March. In May, Far East Organization and Sino Group’s The Reserve Residences sold 71 per cent of its 732 units over the launch weekend at an average price of S$2,460 psf. 

Caveats data from URA Realis showed that resale prices for private condo units in the vicinity – such as the 999-year leasehold Cashew Heights and 999-year leasehold Hazel Park Condominium – have ranged from S$1,400 psf to S$1,713 psf in the past four months.

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In the most recent sale in late April, a 1,335 sq ft unit at Hazel Park transacted at S$2.13 million or S$1,596 psf. Overall, condo resales in District 23 (Hillview, Upper Bukit Timah) attracted prices between S$842 psf and S$1,845 psf. Just last week, a 463 sq ft unit in the 99-year leasehold mixed development Hillion Residences transacted at S$790,000 or S$1,707 psf.

CDL’s group chief executive officer Sherman Kwek noted that The Myst is near nature parks and reservoirs, such as the Bukit Timah Nature Reserve, Dairy Farm Nature Park, as well as the Rail Corridor, a 24-km green corridor running from Woodlands to Tanjong Pagar. 

It is also near the Cashew Avenue Good Class Bungalow area and Cashew MRT station on the Downtown Line.

Kwek said: “Homebuyers will derive immense value from the exceptional luxury resort design and strong locational attributes, making The Myst an attractive choice for those looking to enhance their lifestyle.”  

The Myst will book sales from Jul 8, and is expected to deliver its notice of vacant possession in March 2029.