If you’ve been an admirer of residential projects by City Developments Ltd (CDL) – especially in the high-end property segment in Singapore, then New Futura at Leonie Hill Road will definitely get you at the edge of your seat.
For last 6 years, the Leonie Hill precinct has, in fact, received plenty of attention from the property market due to one iconic residential project – that is OUE Twin Peaks.
And if OUE Twin Peaks is the definition of luxury living at the very top (as some marketing agencies proclaimed), then I would say New Futura is somehow of a virtual reflection of renewed luxury that has been stagnant in the prime District 9 for decades.
As these 2 projects are fairly close to one another – in terms of age and location, we will be doing a lot of comparison between them for this property review.
So let’s get into it, starting with some in-depth facts of New Futura.
New Futura Condo Developer
The developer for New Futura condo seriously needs no further introduction, even if you are new to the real estate market in Singapore.
City Developments Ltd or CDL is one of biggest Singapore-listed real estate developers which have established a global presence through a total of 97 locations within 26 different countries – over the last 54 years.
In fact, many seasoned property buyers out there would strongly agree that their greatest accolades in the private residential market in Singapore come from the high-end property segment.
The freehold site of New Futura was previously jointly acquired via a collective sale by CDL, together with an American firm (based in Israel) for S$287.3 million (or S$1,179 psf) back in 2006. However, CDL had subsequently assumed full ownership of the Leonie Hill Road project by purchasing all the stakes from their joint partner.
Since then, CDL has developed numerous iconic projects in the ultra-luxury property market, such as The Sail at Marina Bay, The Oceanfront at Sentosa, Residences at W, Nouvel 18 and Gramercy Park (which has been making the headlines recently).
CDL is definitely no stranger to the high-end residential market and thus you can expect them to deliver the kind standards and quality within a luxury home at New Futura condo, which they are perfectly capable of.
New Futura at Leonie Hill Road Location
The location of New Futura couldn’t get any better – with an address of 14 Leonie Hill Road Singapore 239193. Not only it’s situated in the most affluent part of District 9, the Orchard shopping belt and upcoming Great World City MRT Station – is a just a mere few minutes’ walk away.
If I may say so, it’s the perfect amalgamation of convenience & luxury.
Some may argue that there are such properties all around the Orchard Road precinct. But to have a freehold property in District 9 being this close to an MRT Station is simply rare and an absolute gem.
Being near to Orchard Road means you are within close proximity to numerous major retail stores, entertainment, and F&B outlets. However, this is only “one-side” of life.
On the “other side”, you will have the opportunity to experience the exquisite nightlife and unwind along the vibrant Robertson Quay and Clarke Quay precincts – away from the hustle and bustle of living in the city.
New Futura Floor Plan and Unit Types
What’s luxury without space? CDL certainly understood this fact. At New Futura, there is a total of 124 exclusive lavish apartments across two 36-storey towers and be reassured that you won’t be expecting tiny shoebox apartments – with the smallest 2-bedroom unit being sized at more than 1,000 square feet.
Here is the list of New Futura floor plan and unit types available:
- 5-Bedroom Penthouse
On top of the efficient layouts and lavish spaces, all apartment units will come with their individual private lift access, offering potential owners that unique extravagance living.
With regards to New Futura floor plan, we will update as soon as we have it from the developer.
New Futura Showflat
The New Futura showflat will be located within the actual condo itself, thus allowing prospects to see and have a better feel when viewing the physical unit.
However, in order to access the development to view the individual units, appointments are required to be made in advance.
You can simply give us a call at (+65) 6631-8384 or drop us a note with the form below, and we will link you up with an exclusive viewing appointment.
New Futura Review
As New Futura condo received its Temporary Occupation Permit (TOP) in August 2017, CDL has geared up to launch this luxury condo at Leonie Hill Road which will likely take place in the 4th quarter of 2017 – after owning the site for 11 long years.
Unlike the mass market segment, this is definitely not an area where we get to see new launch projects every single year. In fact, the last condo project completed within the precinct was the 99-year leasehold OUE Twin Peaks back during late 2014.
According to caveats to-date (11 October 2017), 397 out of 462 units at OUE Twin Peaks have been sold – at an average psf price of S$2,736 psf. The highest psf price was recorded at S$3,462 psf for a 1-bedroom unit (570 sq ft) on the 25th floor.
Realistically, if a brand new leasehold project can be sold at that price point, I don’t see why New Futura – being a FREEHOLD luxury condo and just a mere 130-metre walk away, can’t be priced at more than S$3,000 psf!
|CONTRACT DATE||ADDRESS||SIZE (SQ FT)||PSF (S$)||PRICE (S$)|
|30-Aug-17||33 LEONIE HILL ROAD #32-05||570||3,093||1,764,300|
|24-Aug-17||33 LEONIE HILL ROAD #31-03||1,399||3,066||4,290,000|
|22-Aug-17||33 LEONIE HILL ROAD #31-05||570||3,010||1,717,200|
|22-Aug-17||33 LEONIE HILL ROAD #29-09||1,604||2,526||4,050,800|
|22-Aug-17||33 LEONIE HILL ROAD #31-09||1,604||2,576||4,131,000|
|22-Aug-17||33 LEONIE HILL ROAD #31-04||570||3,174||1,810,600|
|16-Aug-17||33 LEONIE HILL ROAD #30-06||1,604||2,862||4,590,000|
|15-Aug-17||33 LEONIE HILL ROAD #32-03||1,399||3,107||4,347,000|
|27-Jul-17||33 LEONIE HILL ROAD #31-02||549||3,079||1,690,000|
|27-Jul-17||33 LEONIE HILL ROAD #24-06||1,604||2,756||4,419,600|
** Last 10 transactions at OUE Twin Peaks
Overall, the fact is that OUE Twin Peaks is already 85% sold. In my opinion, It has clearly indicated 2 things:
- There is a healthy demand for high-end projects.
- Buyers are accepting the price point for a brand new property in the area.
So assuming the average psf of New Futura pricing is at S$3,000 psf, how does it line up against other relatively new freehold upmarket projects within its close proximity? Let us do a quick overview and comparison.
|PROJECT||TENURE||COMPLETED||NO. OF UNITS||AVERAGE PSF ($)||HIGHEST PSF ($)|
|TwentyOne Angullia Park||Freehold||2014||54||4,113||5,560|
|Le Nouvel Ardmore||Freehold||2014||43||3,954||4,006|
From the above table, it reflects some of the most prominent freehold luxury condo projects completed within the last 3 years and you can see the astounding psf price that buyers have forked out for them.
Thus for New Futura, if the price is anything below the S$3,000 psf mark, I would say it will be an absolute steal.
Coming back to the Leonie Hill precinct, the fact is that OUE Twin Peaks has been very well-received – despite its price and the leasehold status.
Although some market watchers may argue the fact that sales at OUE Twin Peaks were mainly driven by the various differed payment schemes being offered to property buyers, but do take note that if buyers were to opt for such payment schemes, the price of apartments is generally being marked up as a trade-off.
Nonetheless, all the sales figures have clearly indicated that there is indeed a pool of property buyers for high-end condo projects in Singapore, thus I will expect New Futura to be very well-received by the affluent class.
As I have always shared with my clients, when comes to putting your money in real estate – numbers and stats don’t lie.