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BUKIT Sembawang Estates will start previews for its Upper Bukit Timah project 8@BT on Saturday (Sep 7), with prices starting from S$2,530 per square foot (psf).

About half of the 158-unit condominium are one- and two-bedroom units.

The size for one-bedroom units ranges from 517 to 592 square feet (sq ft). Two-bedroom units are from 624 to 829 sq ft. Meanwhile, three bedders are from 1,001 to 1,270 sq ft, and four-bedroom units are 1,356 to 1,593 sq ft in size. The development also offers two penthouses of 1,356 sq ft and 1,593 sq ft in size.

Located in District 21, the 99-year leasehold project sits on 49,633 sq ft of land acquired at a state tender in 2022 for S$200 million, at S$1,343 per square foot per plot ratio (psf ppr). The condo’s units will be housed in two 20-storey blocks.

Lisa Goh, general manager (marketing and sales) at Bukit Sembawang, said: “We are confident that 8@BT will appeal to a wide range of buyers – from young couples to families and right-sizers – owing to the unmatched location, strong growth potential of the estate, and unique pure residential proposition.”

Marketing agencies expect the modestly-sized project to be well-received, with its location in an established residential enclave in the Rest of Central Region and close to the Bukit Timah nature reserve.

Projects that are nearby include Far East Organization’s The Reserve Residences, which sold 520 out of 635 units at launch in May 2023 at an average price of S$2,460 psf. Also in the vicinity is The Linq@Beauty World, which sold 96 per cent of its 120 units at launch in November 2020 at an average price of S$2,150 to S$2,200 psf.

Chia Siew Chuin, JLL’s head of residential research, noted that from June to August, only two major projects – both suburban Outside Central Region condos – were brought to market.

SingHaiyi’s Sora in Jurong sold 23 per cent of its 440 units at launch, while Hong Leong Holdings’ Kassia in Tampines sold 52 per cent of its 276 units over their respective launch weekends in July. Caveats data showed the latest median price achieved was S$2,152 psf for Sora and S$2,049 psf for Kassia.

UOL is set to launch the private preview for its freehold Meyer Blue development on Sep 21. The East Coast project will have 226 units, ranging from two to five bedders and two penthouses. UOL holds an 80 per cent stake in the residential project, with Singapore Land (SingLand) holding the remaining 20 per cent.

UOL and SingLand bought the 96,672 sq ft site in an en bloc purchase of the Meyer Park condo in February 2023 for S$392.2 million or S$1,668 psf ppr.

City Developments is also expected to market Union Square Residences this month.The Havelock Road project, a redevelopment of CDL’s Central Mall and Central Square site, will yield 366 units and is part of the mixed-use development, Union Square.

The flurry of new condo launches comes after a hiatus during the Chinese Hungry Ghost month, which is seen as inauspicious for new home launches.

Sales booking for 8@BT will start on Sep 21, with the project expected to receive its Temporary Occupation Permit in the fourth quarter of 2027.