Forgot your password?

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at


Achieve the life you want, in the home you love
Property News14 Mar 2018

New Futura Penthouse from S$39.8m each

CITY DEVELOPMENTS is pricing its two penthouses at New Futura in Leonie Hill Road from S$39.8 million each, which works out to S$5,079 per square foot based on the strata area of 7,836 sq ft.

New Futura Penthouse

The penthouses, on the top two levels of the completed project's two 36-storey towers, have five bedrooms each. In addition to offering 360-degree views of the city, each penthouse comes with a 13-metre private pool, sauna and shower by the pool deck. The penthouses come with a Poggenpohl Entertainment Kitchen located next to the pool and deck. The entertainment kitchen is designed by Porsche and imported from Germany.

The penthouses have finishes like marble flooring, fully-fitted kitchen, wardrobes and bathrooms. However, they are not fitted with interiors like a showflat as high net worth individuals prefer to engage their interior designers, said a CDL spokesman.

New Futura, a 124-unit development comprising two towers, is CDL's most luxurious residential development to date.

Among other things it has a two-level basement carpark with 253 "luxury lots" which are slightly larger than normal parking lots. CDL describes 30 of these lots as "ultra-luxury", designed for supercars that are larger in size and with wider doors.

CDL highlighted that ultra high net worth (UHNW) foreign buyers (including Singapore permanent residents or PRs) have purchased a total of S$1.03 billion worth of units at New Futura and another of the group's prime-district freehold condos, Gramercy Park in Grange Road. This made up more than 70 per cent of the total sales value of S$1.3 billion so far in these two developments, CDL said.

Gramercy Park received its Temporary Occupation Permit in May 2016 and New Futura, in August 2017.

The group, controlled by the Kwek family, is upbeat about prospects for Singapore's high-end residential market.

CDL Group's general manager Chia Ngiang Hong, citing Knight Frank's recently published The Wealth Report 2018, said: "By 2022, the population of UHNW individuals in Asia is expected to increase by about 55 per cent, as compared to 2017. We are confident that the rest of our highly anticipated luxury condominiums such as South Beach Residences and The Biltmore will receive similar strong take-up rates."

The 190-unit South Beach Residences is slated for release in either the second or third quarter of this year. CDL has yet to indicate a launch timeframe for the 154-unit The Biltmore, which is in the Cuscaden Road/Orchard Boulevard area.

At New Futura, in District 9, foreigners bought 34 of the 48 units that CDL has sold since it released the development's 64-unit South Tower in January this year. The 34 units have a total sales value of about S$206 million and the overseas buyers who acquired them are mainly from Asia (China, Indonesia and Malaysia).

In all, the 48 units sold in the development add up to about S$302 million, with an average selling price over S$3,200 per square foot. Apartment prices of units sold started from S$3.8 million for two-bedroom units, S$5.5 million for three-bedders and S$6.9 million for four-bedders. Typical unit sizes range from 1,098 sq ft for two-bedders, 1,830 sq ft for three-bedders, and 2,250 sq ft for four-bedders.

A CDL spokesman said the group will release the 60-unit North Tower "in due course".

All units at New Futura come with fully equipped kitchens with Miele appliances and Poggenpohl cabinets, and sanitary ware and fittings from Hansgrohe, Laufen and Geberit in the bathrooms.

At the 174-unit Gramercy Park, CDL released the first tower for sale in May 2016 and the second tower in late March 2017.

It has to date moved 170 units totalling S$1.01 billion in the District 10 project, of which 132 units (S$827 million) were taken up by foreign buyers. The project comprises two blocks of 24 storeys each and the average price achieved exceeds S$2,800 psf.

All four penthouses in the development were bought by foreigners. Two of these penthouses are 5,533 sq ft each; they fetched S$16.88 million (or S$3,050 psf) early last year and S$17 million (S$3,072 psf) last July.

The other two units of 7,287 sq ft went for S$21.86 million (S$3,000 psf) last August and S$24.5 million (S$3,362 psf) last month.

All four units are on the top two levels of the 24-storey project.

While foreigners including PRs make up a high proportion of buyers for the units sold thus far at New Futura and Gramercy Park, the trend does not apply across the board.

According to Edmund Tie & Co's analysis of URA Realis data as at March 12, Singaporean buyers snapped up 75 per cent of the 21,858 non-landed private homes (excluding executive condo units) transacted last year - up from a 72 per cent share in 2016. On the other hand, the share of foreign buyers (including PRs) slipped to 24 per cent last year from 27 per cent in 2016.

CDL noted that The Wealth Report 2018 named Singapore as a favoured destination for property investments among the world's ultra-wealthy, taking the fifth spot based on an overall global ranking.

Among Asian investors, Singapore is the third most-favoured, after the United Kingdom and the United States. The ultra rich are attracted to the quality lifestyle, excellent education system, political stability, strong currency, safety and security that Singapore has to offer.

Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
Property News 23 March
Bukit Sembawang secures Makeway View for S$168m
Makeway View is located across the road from Newton Food Centre and within one kilometre of Anglo-Chinese School (Barker Road), Anglo-Chinese School (Junior) and St Joseph Institution Junior. Newton MRT is about 400 metres away from the property.
Property News 22 March
Good Class Bungalow deals start to rev up
While some owners are starting to withdraw their properties from the market in anticipation of higher prices later on, there are also many cases of people wanting to sell their properties. These include elderly couples who no longer need a big house as their children have moved overseas and they themselves would like to spend more time travelling abroad.
Property News 21 March
State tender for Holland Rd site draws 15 bids
Three consortiums placed two bids each: Lendlease in a tie-up with Pontiac Land; Perennial Real Estate Holdings in partnership with Qingjian Realty; and GuocoLand in partnership with Hong Leong Holdings' fully owned unit Intrepid Investments, TID and Hong Realty.
Property News 20 March
Pacific Mansion sold en bloc for $980m
Pacific Mansion comprises 288 apartments and two commercial units. Owners representing more than 80 per cent of the strata area and share value of the development have consented to the collective sale. Each residential unit owner will stand to receive a gross payout of $3.26 million to $3.48 million. The shop units will receive between $2.2 million and $4.5 million.

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.