This weekend saw GuocoLand's Springleaf Residence condo selling more than 870 of the total 941 units at an average price of $2,175 psf. Almost all of the 340 two-bedroom units in this mega project located along Upper Thomson were sold out and 95% the 384 three-bedroom units and 138 four-bedroom types snapped up. Five-bedroom units saw 45% of the 71 units sold.
Jointly developed by 2 reputable powerhouse developers, Guocoland and Hong Leong Holdings, Springleaf Residence with a total of 941 units comprising 909 units of two to five-bedroom apartments across five 25-storey blocks and 32 one to three-bedroom units in a four-storey conserved building.
The strong demand reflects market confidence in the Springleaf area’s growth potential, in line with URA’s vision of Springleaf as a vibrant neighborhood that harmonises urban living with natural spaces.
Local buyer sentiment remain positive despite global uncertainties supported by a combination of lower interest rates compared to the 2022-to-2023 period coupled with Singapore’s reputation as a safe haven amidst uncertain times.
Few companies have changed the face of Singapore’s urban landscape like GuocoLand has. While many know the real estate group through landmark projects such as Guoco Tower and Guoco Midtown, fewer are aware of its origins. Formally established in 1976, the company’s trajectory shifted significantly when it became part of Malaysia’s Hong Leong Group in the late 1980s.
GuocoLand has played a pivotal role in helping shape new residential precincts in line with the government’s urban plans. Lentor Hills estate is a notable example. When GuocoLand made its first bid there, the precinct was a quiet residential enclave, unfamiliar to many Singaporeans. Despite being a brand-new residential area, the company and its partners, particularly Hong Leong Holdings, foresaw the potential of the location and moved forward with confidence, securing multiple sites. GuocoLand also developed the area’s only mixed development which comes with a shopping mall and seamless connection to the MRT network.
Buyers were also assured by GuocoLand’s success in Lentor - demonstrating its ability to anticipate and navigate consumer preferences by strategically differentiating each project in the precinct through varying design concepts, unit mixes and the facilities and amenities each offers, Guocoland is able to raise the overall appeal of the estate it touches - also known as the developer with the Midas touch.
There are similarities between the Springleaf estate and the Lentor Hills estate. Both are in quiet private landed housing enclaves and are directly served by the Thomson-East Coast MRT Line. The addition of potential commercial amenities such as retail shops, food and beverage outlets, and supermarkets can help catalyze greater footfall and activity within Springleaf estate which is currently a quiet quaint town that offers great views of the forest and nature areas.
Right beside Springleaf Residence is another plot of GLS land parcel - Upper Thomson Road (Parcel A) which spans 24,421.9 sqm and can yield around 595 residential units.
"The tender for Upper Thomson Road (Parcel A) is expected to close on 23 Oct 2025 and with 93% of Springleaf Residence sold within 1 weekend, I expect at least three bids for this site with the winning bid above $1,150 psf ppr since it is directly above Springleaf MRT station coupled with developers' hunger for land parcels." said Kiwi Lim, Associate Group Director of PropNex Realty.
"I have confidence that the overall liveability and convenience of the Springleaf neighborhood will be greatly enhanced and this development will appeal to both residents and investors."
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