URA releases first private condo site in new Newton estate for sale
Prime plot likely to be hotly contested, could draw bids of up to S$1,600 psf ppr amid plans for 5,000 homes around three clusters in the area
[SINGAPORE] The government has put up for sale a residential housing plot along Bukit Timah Road, the first site to be released under plans for a new housing estate in the prime Newton neighbourhood.
The 0.58 hectare (ha) site is also the first state land plot in Newton to be put up for sale in almost three decades, and is expected to be hotly contested.
The 99-year leasehold plot, which can yield around 340 units, is located next to the Newton MRT station and was used previously as transitional office space.
In 2007, the site was sold with a 15-year tenure to Scotts Spazio, a joint venture between Hwa Hong Corp and KOP Capital.
The Business Times reported in 2023 that Scotts Spazio was granted a two-year extension of stay. The premises were leased by insurer Prudential Singapore until it moved to its new office at Labrador Tower in 2025.
With the upturn in market sentiment for new launches in the Core Central Region (CCR), Wong Siew Ying, PropNex’s head of research and content, expects the parcel to draw a top bid between S$1,500 and S$1,600 per square foot per plot ratio (psf ppr).
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Wong noted that developers have sold over 850 new homes in the CCR since July, according to URA Realis data as at Aug 26. The number of units sold in the third quarter of 2025 is expected to show the strongest quarterly performance for the prime CCR since Q4 2010, when 994 units were sold.
“The return of buyer interest in CCR homes is partly due to the narrowing price gap between new CCR homes against that of new Rest of Central Region units, which is seen to have enhanced the value proposition for CCR properties among buyers,” said Wong.
The last government land sales (GLS) site in the Newton Planning Area was sold in July 1997 and has since been developed into Draycott 8, where five units changed hands in the past year at an average of S$2,176 psf.
Justin Quek, chief executive officer of OrangeTee, noted that the closest comparable CCR land parcel released under the GLS programme was an Orchard Boulevard site awarded to UOL and SingLand in 2024 at S$1,617 psf ppr. The project, UpperHouse, sold over 53.8 per cent, or 162 of its 301 units, over its launch weekend in July 2025.
“The sales take-up was robust… indicating that luxury home demand remains healthy,” said Quek. “We expect the future project here to be as well-received, given its excellent location, being at the heart of a new neighbourhood in Newton.”
He added that the project will appeal to families, given the site’s proximity to several popular schools including Anglo-Chinese School (Junior), Singapore Chinese Girls’ School, St Joseph’s Institution Junior and St Margaret’s School (Primary).
The just-released Bukit Timah Road plot falls within a new 26 ha neighbourhood in Newton which the Urban Redevelopment Authority envisions as a “vibrant, mixed-use urban village” under the new Draft Master Plan 2025 unveiled in June.
URA has plans for 5,000 private homes around three clusters in Newton Circus, Scotts Road and Monk’s Hill, in its bid to inject new housing supply into Singapore’s most coveted central locations.
Some of these could be built around a central public space to be opened next to the Newton MRT station and Newton Food Centre, to provide residents with amenities and more food options.
In June, a tender for the first plot of land in Bukit Timah Turf City drew nine bids. The site was awarded to a consortium comprising Frasers Property, Sekisui House and CSC Land, which placed the highest bid of S$491.5 million, or S$1,410 psf ppr for the parcel. The 13,492 square metre site can be built into around 380 homes.
Marcus Chu, CEO of ERA Singapore, said that with many developers keen on prime plots, competition for the Newton site could intensify, potentially leading to more aggressive bids.
The tender for the Newton site closes on Nov 11.
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