Tembusu Grand Condo Review and Investment Analysis

Tembusu Grand Condo Review & Investment Analysis. Singapore District 15

Tembusu Grand Condo Preview: 24 March 2023

This is a review of Tembusu Grand, a 99-year leasehold condominium development at Jalan Tembusu in Singapore’s highly popular and vibrant District 15. It will have four 20- and 21-storey blocks with a total of 638 units of 1- to 5 bedrooms, including 2 penthouses.

To be developed by jontly by City Developments Ltd (CDL) and MCL Land, it is located about 8 minutes’ walk from the upcoming Tanjong Katong MRT station (TE25) on the Thomson-East Coast Line.

Surrounding the condominium is a plethora of shopping malls, food havens, leisure attractions, and prestigious schools.

This property review seeks to provide an unbiased evaluation of Tembusu Grand to help you make an informed decision on whether this is the right property to invest in. These include the following:

Nevertheless, please feel free to WhatsApp or Email Me if you wish to:

  1. Receive the latest updates about the development.
  2. Visit the showflat for a better understanding of the development.
  3. Gain a deeper insight into its investment potential and get an update on Singapore’s property market.

To navigate directly to each sections of this review, please click on the links in the Table of Contents below:

Tembusu Grand Condo - Unique Selling Points

  • Developed by well-known City Developments Ltd and MCL Land, which are behind the launch of iconic projects such as CanningHill Piers, Piccadilly Grand, and Irwell Hill Residences, to name a few.
  • Located in a predominantly low-rise housing private residential enclave that offers mostly unobstructed sea views.
  • Lies within one of Singapore's highly coveted conservation areas.
  • A sizeable development with a site area of 20,572.1 sq m ( 221,436.2 sq ft) that will offer a full range of facilities and abundance landscaping.
  • An 8 minutes’ walk to the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line, providing residents easy access to the city centre and many parts of Singapore.
  • Minutes’ drive to the East Coast Parkway (ECP), Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE), and Nicholl Highway.
  • Convenient access to a plethora of shopping malls, food havens and amenities.
  • Near many leisure attractions and within walking distance of East Coast Park.
  • Proximity to many prestigious schools.
  • Close to the Paya Lebar Sub-Regional Centre and other major employment hubs.
  • Promising investment potential.


Tembusu Grand Condo Fact Sheet

Subject Description
Project Name Tembus Grand (莉丰嘉园)
Development Type Proposed condominium housing development comprising 4 blocks of 20/21- storey Apartment (Total 638 units) and 1 block of 5-storey multi-storey carpark with landscape deck, common basement carpark & communal facilities on Lot 07748 MK25 at Jalan Tembusu (Marine Parade Planning Area)
Developer Tembusu Residential Pte. Ltd (Joint Venture between CDL and MCL Land)
Address 92, Jalan Tembusu, Singapore 439142

94, Jalan Tembusu, Singapore 438669

96, Jalan Tembusu, Singapore 438670

98, Jalan Tembusu, Singapore 438671

Status Residential
District 15 (Marine Parade Planning Area)
Site Area 19,567 sq m (210,622 sq ft)
Gross Floor Area Maximum: 54,789 sq m

Minimum: 49,311 sq m

Plot Ratio 2.8
No. of Blocks 4 Blocks, 20/21-Storey High
No. of Units 638
Tenure 99 Years commencing from 25 April 2022
Date of Vacant Possession 31 October 2028
Parking Lots 516 parking lots including 6 EV Lots and 5 accessible lots
Refuse Disposal System
Common refuse chute provided at common area at every residential lift lobby level
Project Account Malayan Banking Berhad for Project Account No. 044-055-0124-2 of Tembusu Residential Pte. Ltd
Project Consultants
Architect ADDP Architects LLP
Landscape Tinderbox Pte Ltd
Project Interior Designer JOW Architects
Builder United Tec Construction Pte Ltd

Building Orientation and Distance Between Blocks

Tembusu Grand Condo - Building Orientation and Distances Between Blocks.

Building Orientation and Block Distance.

All the blocks will have a North-South orientation. Thus, all units will avoid either the direct morning or afternoon sun.

At the same time, the distance between the front-facing blocks is a good 40m apart, which is very generous by today's standard.

Besides offering residents greater privacy, it will also provide better cross-ventilation across the development.

Most unit types will have some stacks that face the main facilities area and swimming pools, except for the 2-Bedder (B1) and 3-Bedder (C1) types.


Tembusu Grand Unit Mix

Tembusu Grand offer two different schemes:

  1. Contemporary Scheme - for 1 to 3-Bedroom types.
  2. Luxury Scheme - for 4 & 5-Bedroom types and Penthouses.
Unit Type No. of Units Estimated Area (sq ft)

PES & Typical Units

Estimated Area (sq ft)

Units with Higher Living / Dining Ceiling

1-Bedroom + Study (A1S, A2S) 117 527 646
2-Bedroom (B1) 81 667 829
2-Bedroom + Study (B2S) 119 743 883
3-Bedroom (C1) 79 990 1,184
3-Bedroom + Study (C2S) 121 1,173 1,399
4-Bedroom (D1) 81 1,432 1,604
5-Bedroom (E1) 38 1,711 -
Penthouse (PH) 2 - 2,691
Total 638

Please click on the link for Tembusu Grand E-Brochure and Floor Plans.


Tembusu Grand Virtual Tour

Please click on the links below for a virtual of Tembusu Grand show units and sales gallery.

Tembusu Grand Condo - Contemporary Scheme.

Contemporary Scheme for 1 to 3-Bedroom Types.

Tembusu Grand Condo - Luxury Scheme.

Luxury Scheme - For 4 and 5-Bedroom, Penthouse Types.

Tembusu Grand Interior Provisions

Below is a short summary of Tembusu Grand's interior provisions:

  • All 4-Bedroom, 5-Bedroom, and Penhouse units come with walk-in wardrobe in master bedroom.
  • Full-height cabinet provision for all 3-Bedroom, 4-Bedroom, and 5-Bedroom units, which also comes with a dry kitchen.
  • Kitchen island counter provided in all dry kitchen for 4-Bedroom, 5-Bedroom, and Penthouse units.
  • Kitchen comes with Miele cooker hood, hob, oven, and Liebherr fridge.
  • Integrated dishwasher provided for all 4-Bedroom, 5-Bedroom, and Penthouse units.
  • Luxurious bathroom sanitary wares and fittings from well-known brands such as Hansgrohe and Geberit.
  • Master bedroom of 4-Bedroom, 5-Bedroom, and Penthouse units comes with two countertop washbasins with fittings in special brushed black chrome finish.


Tembusu Grand Condo's Smart Home System

A smart home system will be installed in every units. These include the following:

  • A smart hub gateway for remote control of appliances.
  • Lighting and air-conditioner control.
  • Digital lockset.
  • Wifi camera doorbell.
  • Smart community app for condo, home, and lifestyle services.
  • Intercomm app for communication with visitors and guardhouse.
  • Vehicular access control for visitors.


Green Home Features

Passive Cool Design Architecture (Heat Mitigation)

  • Lush greenery at landscape areas.
  • Good unit design obtaining overall (close to 80% true cross ventilation).
  • Grille Gate provided for all units at entrance to allow cross ventilation.

Energy Efficiency (Energy Efficient Equipment and Monitoring)

  • Use of LED fittings to achieve > 60% energy savings.
  • 5-ticks energy rating for air conditioning units.
  • Energy efficient household appliances.
  • Effective lighting and air conditioning control for common area facilities.
  • Efficient lift system (VVVF, sleep mode & regenerative drive functions).
  • Photovoltaic panels contribute to offset 30% of energy of clubhouse, function room, swimming pool, gym and MCST Office consumption.

Electric Vehicle (EV) Charging

  • Electric vehicle charging infrastructure (6 active stations) to reduce carbon footprint and emissions.


Tembusu Grand Facilities

Tembusu Grand, being a relatively large 638-unit condo development, will offer a plethora of facilities (see below) for the enjoyment of residents of all ages.

The facilities are split into 4 distinct zones:

  1. Arrival (arrival experience)
  2. Splash (pool & amenities)
  3. Serenity (thematic gardens)
  4. Adventure & Respite (play 7 leisure)
Arrival Splash 35. Garden Cabanas
1. Arrival Courtyard 18. Water lily Courtyard 36. Leisure Lawn
2. Guardhouse 19. Pool Deck 37. Lounge Deck
3. Arrival Sculpture 20. 50m Infinity Lap Pool 38. Co-Working Lounge
4. Arrival Water Cascade 21. Pool Lounge 39. BBQ Pavilion
5. Residential Services Counter 22. Spa Pool 40. Tennis Court
Serenity 23. Relaxing Pool 41. Gymnasium
6. Scent Garden 24. Wading Pool A. Grand Club
7. Gourmet Pavilion 26. Changing Room a. Entertainment Room(L1)
8. Herbs Garden Adventure b. Karaoke Pod (L1)
9. Serenity Garden 27. Swing Garden c. Gaming Pod(L1)
10. Serenity Lawn 28. Garden Lounge d. Function Room (L1)
11. Serenity Deck 29. Play Dome B. Tembusu Club
12. Serenity Walk 30. Playhouse e. Private Dining(L2)
13. Pets Corner 31 Kids Playroom f. Observation Deck(L2)
14. Tropical Garden 32.Water Courtyard
15. Garden Courtyards Respite
16. Terrace Garden 33. Yoga Studio
17. Garden Pavilion 34. Mediation Deck

Residential Services

Tembusu Grand will offer a slew of residential services, which truly elevates the standards of living. These include the following:

Tembusu Grand Residential Service - Welcome and Assistance

Welcome and Assistance

  • Arrival Welcome & Assistance
  • Reception Service
  • Wet Weather Assistance
  • Transport Arrangements
Tembusu Grand Residential Service - Estate and Living

Estate and Living

  • Estate & Local Information
  • Facility Reservations
  • Delivery Acceptance
Tembusu Grand Residential Service - Service Requests

Service Requests

  • Hotel & Restaurant Reservations
  • Business Services
  • Laundry & Housekeeping Services
  • Private Chef/Caterer for Parties
  • Pet Care/Grooming Services
  • Mail & Courier Services
  • Handyman and Pest Control Services

Who are the Developers of Tembusu Grand Condo?

City Developments Ltd (CDL) and MCL Land are the developers for Tembusu Grand condo.

City Developments (CDL): It is a leading global real estate company with a network spanning 104 locations in 29 countries and regions.

Listed on the Singapore Exchange, CDL is one of the largest companies by market capitalisation. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, retail malls and integrated developments.

With an excellent track record of building iconic and environmentally friendly homes, CDL has been ranked the 5th most sustainable real estate management and development company globally. Some of its latest projects include Copen Grand executive condo, CanningHill Piers, Piccadilly Grand, and Irwell Hill Residences, among many other residential developments.

MCL Land: It is a leading developer known for its commitment to excellence and customer satisfaction. One of their main missions is to create practical and smart home solutions with the aim of building long-term value for homeowners.With over 50 years of experience, the company has a proven track record of constructing high-quality homes in Singapore and Malaysia. Some of their notable projects include as Leedon Green, Parc Esta, and Margaret Ville.


What are the Prices for Tembusu Grand Condo?

Below are the launch prices for Tembusu Grand condo:

  • 1-Bedroom+Study: from $1.248 million ($2,368 psf).
  • 2-Bedroom: from $1.548 million ($2,321 psf).
  • 3-Bedroom: from $2.278 million ($2,531 psf).
  • 4-Bedroom: from $3.288 million ($2,296 psf).
  • 5-Bedroom: from $4.028 million ($2,354 psf).

Considering the current market conditions, the project is attractively priced, especially considering that recent developments in the OCR are selling above $2,100 psf to $2,200 psf on average. More recently, Terra Hill, a freehold RCR project at Pasir Panjang, was sold at an average price of $2.650 psf.

During the launch of the Jalan Tembusu land sale in November 2022, it attracted strong interests from eight housing developers. CDL emerged the winner with a top bid of $768 million, which works out to a land rate of $1,302 psf ppr.

For comparison, Meyer Park located about 1.1km away, has recently been successfully sold en bloc to United Venture Development, an 80/20 joint-venture (JV) company between UOL Group and Singapore Land Group. At a land rate of $1,668 psf ppr (per square foot per plot ratio), the freehold development is estimated to be launched around $3,100 psf, which will set a new benchmark for District 15.

Hence, this would make Tembusu Grand condo a very attractive option despite its 99-year leasehold status.


Land Cost Comparison - Tembusu Grand Vs Upcoming New Launches

Below is a comparison of the land cost for some of the upcoming developments in District 15. As can be seen, Tembusu Grand has the lowest land cost, which will provide property investors the "first-mover" advantage.

This is because the subsequent developments will be launched at higher prices, which will help to underpin property values in the district in the process. Notably, the en bloc of Meyer Park at such a price shows property developers are still confident of the market.

  Tembusu Grand (99-year) Grand Dunman (99-year) The Continuum (Freehold) - En bloc Meyer Park (Freehold) - En bloc
Land Cost $1,302 psf ppr $1,350 psf ppr $1,488 psf ppr $1,668 psf ppr
Difference - +3.6% +14.2% +28.1%


Where is Tembusu Grand Located?

Tembusu Grand Map Location

Tembusu Grand Map Location

Tembusu Grand condo is located at Jalan Tembusu in Singapore’s vibrant and bustling District 15, and within one of Singapore's highly coveted conservation areas.

Next to it is the Canadian International School, while the Tanjong Katong Primary School and Tanjong Katong Girls’ School are less than 5 minutes’ walk away.

The nearest MRT station is Tanjong Katong (TE25) on the Thomson-East Coast Line. Located within a 8-minutes walk. it is slated to be completed in 2024. when operational, it will provide a direct route to the Marina Bay area, as well as Singapore's financial district.

As the area is predominantly a low-rise private residential enclave, it will enjoy mostly unobstructed views of the East Coast Park and sea, which are less than 1km away.

Adjacent to it is Tanjong Katong Road, home to many popular eateries.


A Precinct Rich In Heritage and Culture

District 15, especially in Mountbatten, Katong, and Joo Chiat, is known for its rich culture, colourful heritage shophouses, colonial bungalows, unique shops and eateries.

In fact, many of these buildings have been conserved to retain the area’s distinct architectural identity.

These areas are also known for their rich Peranakan and Eurasian history. Evidence of their heritage can be found in many places such as the Katong Antique House, Rumah Bebe, The Intan, and Eurasian Heritage Centre, to name a few. There are also shops selling traditional Nonya outfit - kebaya (traditional nonya dress) and sarong (traditional Asian garment), beaded slippers and accessories, Peranakan wares and handicraft.

Colourful Conserved Peranakan Shophouses near Tembusu Grand condo.

Conserved Peranakan Shophouses

Katong Antique House near Tembusu Grand condo

Katong Antique House

Exuding a fascinating mixture of old-world charm and modernity, it is no surprise they have been attracting property investors for the longest time.  Moreover, given that they are amongst the very few conservation areas in Singapore, properties in the area are highly coveted.

Hence, it is no surprise that District 15 is one of the most sought after residential areas outside the Core Central Region (CCR) due to the fascinating living experience it offers. Moreover, it is just a short drive from the city.


Convenient Public Transport Network

Residents of Tembusu Grand will enjoy convenient access to public transportation when travelling around Singapore.

Tembusu Grand condo MRT Map


MRT Station – The Tanjong Katong MRT station on the Thomson-East Coast Line is within a 8-minutes walk. It offers residents direct access to the city centre, with the Marina Bay station (an interchange between the Thomson-East Coast and North-South Lines) just 6 stops away.

Meanwhile, the Founders’ Memorial is just 3 stations from Tembusu Grand condo. The Founders’ Memorial, expected to be completed in 2027, is envisioned to be an integrated building with exhibition galleries, landscaped spaces, and art installations to commemorate Singapore’s first generation of leaders.

The prime land around it will likely be set aside for a mix of commercial and residential developments, which will boost the value of real estate in the vicinity.

Public Buses – Adjacent to Tembusu Grand is Tanjong Katong Road. It is served by many public buses and they include Bus Number 10, 31, 32, 40, 43, 43e, 134, 135, 197, 401, and 853M. As the bus stops are merely 1-2 minutes’ walk from the condo, they offer residents an alternative transport option when commuting to the surrounding areas and beyond.

For example, many shopping malls such as City Plaza, KINEX, PLQ, Parkway Parade, and Katong Shopping Centre are just a short ride from the development. Several of these buses also offer a direct route to Downtown Singapore.

Expressways - For residents who own cars, several expressways are just 2-12 minutes’ drive from Tembusu Grand condo. These include the East Coast Parkway (ECP), Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE), and Nicholl Highway.


Shopping Malls & Food Havens

Tembusu Grand is blessed with a plethora of shopping malls and food havens, with many a short train or bus ride away. Some of the shopping malls include the following:

  • Katong Shopping Centre
  • i12 Katong
  • Parkway Parade
  • City Plaza
  • Joo Chiat Complex
KINEX is a short bus ride from Tembusu Grand condo


Parkway Parade is located near Tembusu Grand

Parkway Parade

  • Tanjong Katong Complex
  • PLQ Mall
  • Paya Lebar Square
  • Singapore Post Centre
  • Kallang Wave Mall
  • Leisure Park Kallang
PLQ Mall is a short bus ride from Tembusu Grand condo

PLQ Mall

Kallang Wave Mall is near Tembusu Grand condo.

Kallang Wave Mall

Food Havens Near Tembusu Grand Condo

District 15 is one of Singapore’s best food havens with endless culinary choices. Many hipster cafes have sprung up alongside old-world coffeeshops. These include well-known eateries such as the famous Katong laksa, kueh chang (dumplings), Chin Mee Chin Confectionery, and many other Nonya delicacies.

Besides these traditional offerings, many other cuisines can be found across District 15, which include Chinese, Malay, Indian, Thai, Indonesia, Vietnamese, and Western.

Famous 328 Katong Laksa is near Tembusu Grand condo.

328 Katong Laksa

Yong's Teochew Kueh, traditional food near Tembusu Grand.

Yong's Teochew Kueh

Residents of Tembusu Grand can enjoy a variety of Peranakan delicacies and snacks.

Peranakan delicacies and snacks

Chin Mee Chin Confectionery offers a variety of traditional bakes and is located near Tembusu Grand condo.

Chin Mee Chin Confectionery

Food Centres

For affordable local fares, residents of Tembusu Grand condo have no lack of food options. Several food centres are a short bus ride away and they include the following:

  • Dunman Food Centre.
  • Marine Parade Market and Food Centre.
  • Haig Road Market and Food Centre.
  • Old Airport Road Food Centre.
  • Geylang Serai Market and Food Centre.
Geylang Serai Market and Food Centre is near Tembusu Grand condo.

Geylang Serai Market and Food Centre

Old Airport Road Food Centre is near Tembusu Grand condo.

Old Airport Road Food Centre

Leisure Attractions Near Tembusu Grand

Tembusu Grand is located close to several popular leisure attractions, which will appeal to both homemakers and property investors. These include the following:

East Coast Park - Given its proximity to East Coast Park, it will offer an excellent reprieve from the hustle and bustle of city living. It is a place well-suited for families where they can engage in cycling, rollerblading, jogging, water sports, and even camping.

Little ones have a choice of several playgrounds such as the Coastal PlayGrove, Marine Cove, and Raintree Cove. Together, they offer various age-appropriate activities. These include vertical net climbing, long metallic tube slides, rope bridge, talking tubes, swings, and many more.

There are also many eateries, pubs and cafes along the area.

Singapore Sports Hub - It offers a wide range of activities for the whole family that include dancing (K-Pop Random Play Dance!), jump rope (Jump Rope Fiesta), live music performances and bazaar shopping.

Visitors can also try out different sports such as football, volleyball, yoga, swimming, Taichi and Zumba.

In the future, residents will further benefit from the Kallang Alive master plan. Some of the highlights will include the Kallang Football Hub, Singapore Tennis Centre and a redevelopment of the Kallang Theatre. A velodrome, speed climbing facilities and BMX track also being considered for the Youth Hub.

East Coast Park is within walking distance of Tembusu Grand.

East Coast Park

Tembusu Grand Condo Review: Kallang Alive Master Plan.

Singapore Sports Hub and Kallang Alive Master Plan.

Kallang Riverside Park - An ideal destination for water sports such as dragon boating, canoeing, and water-skiing due to it calm waters. It is also a popular place for anglers and birdwatchers. During the migratory season, tiny egrets and grey herons can often be sighted.

Along its banks are fitness equipment, jogging cum cycling tracks, and a children playground with a variety of play equipment. This will provide an enjoyable day out for the whole family.

Goodman Arts Centre & The Artground - The Goodman Art Centre is home to more than 40 arts groups offering a variety of arts and cultural programmes. It also conducts workshops to encourage family bonding through art, which include dance, theatre, poetry, and fine art.

The Artground is located within the Goodman Art Centre and its main focus is on children’s creativity. With separate facilities to promote creative art such as singing, story-telling, painting, etc, it provides positive arts experiences for the whole family to enjoy together.

Additionally, it endeavours to provide development opportunities for local artists to co-create and cultivate meaningful arts experiences with young audiences.

Kallang Riverside Park is a short drive from Tembusu Grand

Kallang Riverside Park

Goodman Arts Centre is located near Tembusu Grand

Goodman Arts Centre

Tao Nan School is within a 2km radius of Tembusu Grand.

Tao Nan School

Tanjong Katong Primary School is a short walk from Tembusu Grand condo.

Tanjong Katong Primary School

Tembusu Grand Condo is Located Near Many Prestigious Schools

Tembusu Grand Condo is located within a 2km radius of several popular primary schools. Hence, children registering for Primary 1 admission will enjoy priority placement under Ministry of Education’s distance-based allocation system.

There are also a good choice of secondary schools and junior colleges near the development.

Meanwhile, properties situated near popular schools are known to command a price premium, according to a study by the NUS Institute of Real Estate Studies. As such, Tembusu Grand will not only offer a family-friendly living environment, but good investment potential as well.

Primary Schools Within a 1km Radius

  • Haig Girls’ School.
  • Tanjong Katong Primary School.

Primary Schools Between a 1-2km Radius

  • CHIJ Katong Convent.
  • Geylang Methodist School (Primary).
  • Kong Hwa School.
  • Tao Nan School.

Secondary Schools Near Tembusu Grand

There is a good choice of secondary schools near Tembusu Grand, with the following less than 10 minutes’ drive away.

  • Broadrick Secondary School.
  • Bartley Secondary School.
  • CHIJ Katong Convent.
  • Chung Cheng High School (Main).
  • Geylang Methodist School (Secondary).
  • Manjusri Secondary School.
  • St. Patrick’s School.
  • Tanjong Katong Girls’ School.
  • Tanjong Katong Secondary School.
  • Dunman High School.
  • Victoria School.
Chung Cheng High School is located near Tembusu Grand condo.

Chung Cheng High School

Dunman High School is located near Tembusu Grand condo.

Dunman High School

Junior Colleges

For post-secondary education, two junior colleges are within a 5-10 minutes' drive from Tembusu Grand condo.

  • Victoria Junior College.
  • Temasek Junior College.


International Schools – A Potential Source of Expatriate Tenants

Given Tembusu Grand’s proximity to international schools, it has the potential to attract housing demand from expatriates working in the surrounding employment hubs (more below). Hence, those looking for property investment will have a ready catchment of tenants.

Besides the Canadian International School, which is located next to Tembusu Grand, the following are just 4-8 minutes' drive away:

  • EtonHouse International School Broadrick.
  • Olympiad International School.
  • 5 Steps Academy.
  • Nexus International School.


Proximity to Major Employment Hubs Offers Good Investment Potential

Given Tembusu Grand’s proximity to several major employment hubs, it will offer an ideal place to live, work, play, and study. For those looking for property investment, these employment hubs will offer a ready catchment of potential tenants.

Some of the employment hubs nearby include the following:

Paya Lebar Sub-Regional Centre - A mixed retail, commercial and residential precinct built around the Paya Lebar MRT station, it is one of the 10 Business Improvement Districts (BID) in Singapore. A BID is a business-led body formed to improve a defined area. It is operated independently by the private sector to enhance the vibrancy and attractiveness of the precinct through targeted marketing, hospitality and events.

Raffles Place and Marina Bay Financial Centre – Being the third largest financial centre globally, it is home to many international financial institutions and MNCs which have made Singapore their regional headquarters.

Paya Lebar Sub-Regional Centre is near Tembusu Grand.

Paya Lebar Sub-Regional Centre

Tembusu Grand Condo Review and Investment Analysis - Direct train ride to Marina Bay Financial Centre.

Marina Bay Financial Centre

Changi Business City, Changi Airport, and Changi Aviation Park - A vibrant and thriving economic hub in the East which hosts industries that maximise their synergies with Changi Airport, the mixed-use district is envisaged to boost Singapore’s status as a leading aviation hub in the region.

Paya Lebar Airbase - Five times the size of Toa Payoh, it will be gradually transformed into a highly liveable and sustainable new town, as well a major employment hub. Plans are afoot to build on its unique identity as a former airport and airbase.

Tembusu Grand Condo Review and Investment Analysis: Transformation of Paya Lebar Airbase.

Transformation of Paya Lebar Airbase

Changi Business Park, a major employment hub near Tembusu Grand.

Changi Business Park

Review Conclusion – An Investment Perspective

As the area around Tembusu Grand is dominated by private landed housing and small condos, not many comparable condos of roughly the same sizes are available. Hence, for our investment analysis, the following properties have been chosen due to their proximity and age, which will provide us sufficient data over time to gauge their performances:

  • Haig Court: a 360-unit freehold condominium development completed 2004.
  • Cote D’Azur: a 612-units 99-year leasehold condominium completed in 2004.
  • Dakota Residences: a 348-unit 99-year leasehold condominium completed in 2010.
  • Waterbank @ Dakota: a 616-unit 99-year leasehold condominium completed in 2013.

Except for Haig Court, which is freehold situated next to Tembusu Grand, the other three are 99-year leasehold condos located approximately 1km from it. They should provide us an insight into how both freehold and 99-year leasehold developments have performed in the area.

Average Price Trend - Haig Court vs Cote D'Azur vs Dakota Residences vs Waterbank @ Dakota

(Chart 1) Average Price Trend - Haig Court vs Cote D'Azur vs Dakota Residences vs Waterbank @ Dakota

As can be seen in Chart 1 above, the following are the average price appreciation for the respective condos:

  • Haig Court (completed in 2004): +186.04%.
  • Cote D’Azur (completed in 2004): +154.53%.
  • Dakota Residences (completed in 2010): +71.03%.
  • Waterbank @ Dakota (completed in 2013): +45.45%.


Some interesting Observations

Overall, all four developments have performed well since their launch after taking into consideration their different ages. Meanwhile, below are some interesting observations:

  • The smaller 360-unit freehold Haig Court has outperformed the larger 612-unit 99-year leasehold Cote D’Azur although both were completed in 2004.
  • The smaller 348-unit 99-year leasehold Dakota Residences outperformed the larger 616-unit 99-year leasehold Waterbank @ Dakota despite the former being a tad further from the Dakota MRT station. (Note: Both developments are in District 14 but lie at the edge of the more popular District 15. They are chosen for comparative study due to their proximity to Tembusu Grand condo).

As can be seen, it seems to indicate that mid-size condo developments with 300+ units offer better capital appreciation potential than larger ones with 600+ units. This may be due to the supply-side factor - the larger the development, the greater the competition when owners decide to sell.

Given that Tembusu Grand is a 638-unit condo development, this may be a factor to take into consideration when deciding which property to invest in.


Average Rental Yields of Condos

  • Haig Court (completed in 2004): 2.3%.
  • Cote D’Azur (completed in 2004): 2.9%.
  • Dakota Residences (completed in 2010): 3.0%.
  • Waterbank @ Dakota (completed in 2013): 3.5%.

Average rental yields are quite decent overall, and this could be attributed to their proximity to prestigious schools such as Tao Nan and Tanjong Katong Primary school.

In fact, rental yields are more attractive than many of those in the Core Central Region (CCR), which are hovering in the mid- to low-2% level. For those looking for higher rental yields may also wish to check out Blossoms By Park and The Hill @ One-North located near Buona Vista in Singapore’s District 5.


Competition from Upcoming New Condo Launches

Property investors may wish to take note of two other upcoming condo launches in District 15. They are:

Besides the above, another site opposite Tembusu Grand is expected to be launched in March 2023 under the government land sale (GLS) programme. Expected to yield about 840 units, the response of housing developers will be closely watched given that the area will be seeing a slew of new property launches totalling 2,530 units [Tembusu Grand (638 units) + The Continuum (816 units) + Grand Dunman (1,076 units)].

In conclusion, the upcoming supply and competition by real estate developers to clear their units are likely to temper the rapid rise in property prices.

In addition, economic headwinds and rising interest rates have added a degree of caution to the property market after rising sharply in the last two years. Property prices gained 10.6% in 2021 and 8.4% in 2022, according to flash estimates released by the Urban Redevelopment Authority (URA).

However, those looking for a sharp correction in property prices will likely be disappointed as the market is forecast to rise 3-4% next year. This can be attributed to the low inventory of unsold units in the market, estimated to be about 15,000 to 16,000 units – a 15-year low.

As can be seen in Chart 2 below, private property prices have risen sharply on the back of dwindling unsold inventory in the market.

Housing Supply Versus Private Property Price Index

(Chart 2) Housing Supply Versus Private Property Price Index

Property prices are also expected to be supported by the following factors:

  • Strong demand from HDB upgraders.
  • Healthy household balance sheets.
  • An absence of property speculation following a slew of property cooling measures over the years.
  • High rental demand helping to offset rising mortgage payments.
  • High land and construction cost, with GST hike adding to the upward pressure on prices.
  • Inflow of foreign funds after Singapore and China relaxed its covid-19 restrictions on travel.

Lastly, following the en bloc of Meyer Park, it is estimated to be launched around $3,100 psf on average. This will likely set a new benchmark for District 15, underpinning property prices in the process.

Hence, Tembusu Grand's estimated launch price of $2,450 psf on average can stilll offer an enticing opprotunity before prices rise further.

If you are interested to receive the latest updates on Tembusu Grand and the other upcoming new launches, please feel free to WhatsApp Me.


More Property Reviews

Other than Tembusu Grand, you may also be interested in the following property reviews:

For more details on new launches, you can also find them in project information.



Posted in Rest of Central Region, New Properties.

Hi, I'm Lance Kuan, an Associate Marketing Manager at Huttons Asia Pte Ltd, one of the largest property agencies in Singapore.

With almost 30 years of experience in banking, investment and market analysis, I now find immense pleasure helping others in property investment and asset progression.

My blog - Sg Home Investment - offers essential property reviews, research and guides to help buyers make informed decisions. Please feel free to contact me if you have any queries about the real estate market in Singapore.