High Point Mount Elizabeth Eyes Fifth En Bloc Attempt at S$580 Million

High Point’s collective sale journey has been anything but smooth. The most recent near-miss came in December 2021, when the owners had agreed to sell to Pansy Ho’s Shun Tak Holdings for approximately S$556.7 million. That deal collapsed just days later when the government announced fresh cooling measures, including a sharply higher Additional Buyer’s Stamp Duty (ABSD) for foreign purchasers. Shun Tak walked away and forfeited its S$1 million deposit.

This fifth attempt comes at a more favourable moment. The ultra-luxury residential segment has regained significant momentum since early 2025, with demand strengthened by both local ultra-high-net-worth individuals and international buyers seeking long-term capital preservation in a globally recognised safe-haven market. The limited pipeline of new freehold luxury projects along the Orchard Road corridor adds further scarcity value to redevelopment opportunities like High Point.

The High Point site spans 4,422.8 square metres (47,607 sq ft) and is zoned residential with a baseline plot ratio of 4.45 and a maximum building height of up to 36 storeys — substantially taller than the existing 22-storey development. Crucially, there is no land betterment charge payable to redevelop the site up to its baseline plot ratio, removing a significant cost barrier for prospective developers.

At the asking land rate of S$2,641 psf ppr (inclusive of a development charge of approximately S$18 million), market watchers estimate that a successful acquirer would need to price the finished condominium at an average of around S$5,000 psf to achieve acceptable margins. This places any future development squarely in the trophy residential category — a segment that has shown renewed pricing power.

The timing of this launch aligns with strengthening demand signals in Singapore’s trophy residential market. In the first quarter of 2026, 17 ultra-luxury homes priced at S$10 million and above were sold, marking the highest quarterly volume since Q1 2025. Notable recent transactions underscore the depth of prime-district demand.

In January 2026, a residence at The Marq on Paterson Hill changed hands for S$37 million — or S$5,937 psf. At 21 Anderson, 16 of 19 available units have been sold at an average of S$4,932 psf, with a peak price of S$5,347 psf reached in September 2025. These transactions suggest that the S$5,000 psf breakeven estimated for a redeveloped High Point is achievable — particularly for a freehold address in one of Singapore’s most coveted residential enclaves.