Freehold Cairnhill 16 to launch for sale, prices start at S$2,789 psf

CAIRNHILL 16, a luxury freehold development in district 9, will be launched for sale on Nov 27, with indicative prices to start at S$2,789 per square foot (psf).

The hilltop project along Cairnhill Rise, which will commence previews on Saturday (Nov 13), sits on the site of the former Cairnhill Heights, which was sold via collective sale for S$72.6 million in 2018.

It is being developed by TSky Cairnhill, which is owned by TSky Development, Ocean City Global, Seacare Property Development and Min Ghee Investment. TSky Development is a joint-venture between Tiong Seng Holdings and Ocean Sky International.

Cairnhill 16 has 39 units in a 15-storey tower; the units comprise 13 two-bedroom units, 13 three-bedroom ones, 9 three-bedroom-plus-study units and 4 four-bedroom units.

Unit sizes range from 775 square feet (sq ft) to 1,744 sq ft. Indicative prices for a two-bedroom unit start at $2.2 million; a three-bedroom unit starts at S$2.9 million. The price tag for a three-bedroom-plus-study unit starts at $3.6 million, and a four-bedroom unit, at $5.7 million.

Each unit is served by a private lift and features a spacious living and dining area and a wide balcony, TSky Cairnhill highlighted; top-floor units have ceilings 4.2 metres high. Amenities will include a 20-metre lap pool, roof terrace and concierge service.

A NEWSLETTER FOR YOU

Tuesday, 12 pm

Property Insights

Get an exclusive analysis of real estate and property news in Singapore and beyond.

Sign Up

The developer is aiming to secure the Green Mark GoldPlus certification from the Building and Construction Authority, by having incorporated green initiatives such as energy-efficient LED lighting and electric-vehicle chargers in the carpark.

Situated near Singapore's main shopping belt Orchard Road, Cairnhill 16 is within walking distance of the Somerset, Orchard and Newton MRT stations. Also in the vicinity are Mount Elizabeth Hospital and the American Club; schools within a 1 km radius include Anglo-Chinese School (Junior) and St Margaret's Primary School.

The project is slated for completion in the first quarter of 2023.

Edward Ang, executive chairman of Ocean Sky International, said: "We believe that demand for Singapore residential property will gradually return as the country remains a safe haven for property investment."

With the majority of the population already vaccinated, Singapore is transitioning towards endemic living and has started to ease border curbs progressively with the launch of vaccinated travel lanes (VTL) to certain countries.

Doris Ong, deputy chief executive officer at ERA Realty Network, said: "Against a backdrop in wealth creation, local and foreign buyers alike have been picking up choice properties in the Core Central Region (CCR) as they find value in current prices. Coupled with the aspirations to own a luxury property, this has driven up demand for prime CCR homes."

Cairnhill 16's sales gallery is along Peck Hay Road.

Also being marketed in the Cairnhill area is the 138-unit Klimt Cairnhill, which has sold one unit at a median price of S$3,818 psf, noted Christine Sun, senior vice-president for research and analytics at OrangeTee & Tie.

Low Keng Huat, the developer of freehold Klimt Cairnhill (former Cairnhill Mansions), sold the 1,496 sq ft unit in August for around S$5.71 million, data from the Urban Redevelopment Authority (URA) indicates.