CDL’s Lucerne Grand Sells 61% of 570 Units at Launch, Averaging S$2,480 psf

A total of 350 units were sold as at 6pm on Sunday 4 October, in the project priced on average at S$2,480 psf. Approximately 93 per cent of buyers are Singaporeans, with the remaining 7 per cent permanent residents from countries such as Malaysia, China and India.

Prices at the 99-year Jurong Lakeside project started from S$1.5 million for a two-bedroom unit, S$2 million for a three-bedroom and S$2.8 million for a four-bedroom, which PropNex chief executive Kelvin Fong said was relatively affordable.

“All unit types were well received, with two, three and four-bedroom premium units being the most popular,” CDL said in a press release.

The development has commercial space on the ground floor and is directly linked to Lakeside MRT on the East-West Line. CDL clinched the plot in June 2025 for S$608 million, or S$1,132.08 per square foot per plot ratio.

Sherman Kwek, CDL group chief executive, said: “We are encouraged by the healthy response at Lucerne Grand, which reflects homebuyers’ appreciation for its distinctive combination of connectivity, convenience and nature.”

The take-up puts Lucerne Grand within range of the five mixed-use projects launched this year, said Nicholas Mak, chief research officer at Mogul.sg, noting that launch-weekend sales of those projects ranged from 56.9 per cent at Newport Residences to 98.8 per cent at Tengah Garden Residences.

Analysts attributed the healthy take-up partly to proximity to the MRT station. “The location provides residents with excellent accessibility and convenience to one of the most heavily used MRT lines,” said Mak.

He drew an explicit contrast with the recently launched Amberwood at Holland, which has sold about 11 per cent of its 212 units and is about 1.5 km, or a 20-minute walk, from its nearest MRT station. For context, that figure counts the whole project: Amberwood sold 23 of the 70 units released in its first phase, a 32.9 per cent take-up of that phase.

Justin Quek, deputy group chief executive of Realion, noted buyers were also enticed by the retail space within the development, boosting convenience for residents.

The development’s location near the Jurong Lake District, envisioned to become Singapore’s largest business district outside the city centre, provided a positive long-term backdrop, said PropNex’s Fong.

Demand could also have been driven by the presence of a broad range of educational institutions, said Mohan Sandrasegeran, head of research and data analytics at SRI. Mak noted there are seven primary schools within a 2 km radius of the project.

Sandrasegeran also pointed out that the last private residential launch in the Jurong West area was in 2016.

Mak added that some 598,160 people live in the areas surrounding Lucerne Grand, including Jurong East, Jurong West, Clementi and Bukit Batok. “The substantial population forms a large catchment of homebuyers and HDB upgraders,” he said.