City Developments’ (CDL) freehold Newport Residences sold 139 of its 246 units on its Jan 31 launch, with sea-facing two-bedroom units fully sold, according to Mark Yip, CEO, Huttons Asia.
In addition, “almost all” one-bedroom units facing the sea were snapped up, adds Yip. Around 79% of units at Newport Residences are one- and two-bedroom apartments, with configurations of up to four-bedroom units.
Yip says the take-up rate showed “pent-up demand” for Newport Residences, part of the 45-storey Newport Plaza on Anson Road.
“The introductory launch price from $1.298 million, or 3,012 psf for a freehold project, is very attractive. Moreover, the residential homes start from level 23,” writes Yip.
This addresses common concerns about privacy and noise typically associated with central locations, while allowing units to enjoy more open, unobstructed views, writes Marcus Chu, CEO of ERA Singapore. “Higher-floor units, in particular, benefit from clear sea and city views, which remain a key draw for many buyers.”
Newport Residences is a landmark rare freehold mixed-use project at a prominent location in the CBD. Within the CBD, mixed-use projects are usually 99-year leasehold,” notes Huttons’ Yip. “Buyers know that this is probably a once-in-a-lifetime opportunity to own a freehold iconic mixed-use development in the Central Business District.”
See also: Newport Residences: a rare freehold gem in the CBD
Newport Residences, located at the former Fuji Xerox Towers site, stands out as the only remaining new freehold residential opportunity in District 2, notes Chu.
Only six other freehold residential projects have been launched in the district since 2000, with the most recent being Sky Everton, which obtained Temporary Occupation Permit (TOP) in 2024. “This highlights the limited availability of newer freehold stock in the area,” Chu adds.
Overall, the combination of a “reputable developer”, a “well-conceived” project concept that aligns with the market and “strong locational fundamentals” contributed to the strong market response and healthy sales performance over the weekend, notes Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group.
See also: CDL’s Newport Plaza brings nature back into the concrete jungle
Newport Residences occupies the very top of the 215m-tall Newport Plaza. This mixed-use development will also comprise serviced apartments from levels 10 to 22, Grade A offices from levels two to nine, and F&B establishments on the ground floor.
The residential component is spread across levels 23 to 45 with a Super Penthouse on the top floor.
Located near the existing Tanjong Pagar MRT Station, the upcoming Newport Residences will boast easy access to Prince Edward Road MRT Station and is just down the street from Cantonment MRT Station — two of three stations that will open in 1H2026 and complete the Circle Line loop between HarbourFront and Marina Bay MRT Stations.
The Tanjong Pagar area has witnessed several changes over the past few years from mixed-use projects like Guoco Tower, One Bernam and office projects like Keppel South Central.
These projects have transformed the area and injected more vibrancy, notes Huttons’ Yip. “This may boost tenant demand in the coming years.”
Indeed, the smaller one- and two-bedroom units appeal to investors and professionals seeking to acquire a good investment asset in a prime CBD location, where rental demand remains consistently strong, notes ERA’s Chu.
Meanwhile, larger units attract owner-occupiers upgrading from city-fringe or prime district homes, as well as buyers seeking a slice of a rare freehold residential development in the CBD, Chu adds.
Read more about City Developments’ Newport Residences:
