Prime Orchard condo High Point takes fifth stab at en bloc sale with S$580 million asking price

[SINGAPORE] Owners of High Point, a freehold condominium in the Mount Elizabeth area, are making another attempt at an en bloc sale, offering the prime District 9 site at a guide price of S$580 million.

The guide price reflects a rate of about S$2,641 per square foot per plot ratio (psf ppr), inclusive of the 7 per cent bonus floor area, according to marketing agent ETC.

The latest tender comes some five years after a deal inked to sell the site to Pansy Ho’s Shun Tak Holdings for nearly S$556.7 million was aborted in December 2021.

The developer walked away from the deal and forfeited its S$1 million deposit just days later following the government’s announcement of fresh cooling measures, including a higher additional buyer’s stamp duty (ABSD) rate. Shun Tak’s deal worked out to a land price of S$2,537 psf ppr, including a development charge of S$18 million.

The latest launch marks the condo’s owners’ fifth attempt at a collective sale since 2019.

The 4,422.8 square metre (47,607 sq ft) site is elevated above the Orchard Road corridor. The site is zoned residential and has a building height control of up to 36 storeys. The current building is 22 storeys. There is no land betterment charge payable to redevelop the site up to its baseline plot ratio of 4.45.

Market watchers observe that at the asking price of S$2,641 psf ppr for the site, developers will have to price the finished condo at an average of around S$5,000 psf.

Market recovery

Swee Shou Fern, head of investment advisory at ETC, said that the launch is “particularly timely”, given the “limited pipeline of new ultra-luxe freehold residential projects in the Orchard Road vicinity”.

“Demand for trophy residential assets in Singapore has strengthened over the past year, supported by local and international ultra-high-net-worth individuals alike, who seek long-term capital preservation in globally recognised safe-haven markets such as Singapore,” she added. 

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Sales in the ultra-luxury residential segment have gained momentum since early 2025, after grinding to a halt in the wake of sharply higher ABSD rates announced in 2023, which kept foreign buyers at bay and curbed investment demand.

In the first quarter of 2026, 17 ultra-luxury homes priced at S$10 million and above were sold, marking the highest quarterly volume since Q1 2025.

In January 2026, a residence at The Marq on Paterson Hill sold for S$37 million or S$5,937 psf.

At 21 Anderson, 16 of the 19 units available have been sold at an average of S$4,932 psf, with a peak price of S$5,347 psf reached in September 2025.

The public tender exercise for the site closes at 3 pm on Jun 9, 2026.