City Developments Limited (CDL), together with joint venture partner Hong Realty, is the top bidder for a prime residential Government Land Sales (GLS) site located at the intersection of Peck Hay Road and Scotts Road, a 3-minute walk from Newton MRT Interchange.

The joint bid of S$542.4 million (or S$1,865 psf ppr) was the highest of four bids that were submitted for the 59,347 sq ft site.

CDL's Group Chief Executive Officer, Mr Sherman Kwek, said, “We are pleased to have emerged as the top bidder for the Peck Hay Road site, which is strategically located within the prime Newton residential enclave. Given the site’s close proximity to Orchard Road, excellent MRT connectivity and access to key amenities, the project is well-positioned to meet the aspirations of discerning homebuyers. As Newton evolves into a distinctive mixed-use urban precinct with enhanced green connections, public spaces and heritage elements, we look forward to shaping the precinct’s next phase of transformation with a distinctive residential landmark that is thoughtfully integrated with the wider urban fabric.”

CDL and Hong Realty plans to develop a distinctive 39-storey residential tower with around 380 units. To complement the precinct’s greenery and heritage, the development will incorporate lush landscaping, sky terraces and communal spaces that foster urban liveability.