By HomeBuyers Singapore Editorial Team | Published: 29 June 2026 | Last Updated: 29 June 2026
Based on URA tender data, CBRE, DBS, and Knight Frank analyst reports, June 2026.
The Peck Hay Road GLS tender result on 11 June 2026 sent a clear signal: Singapore’s prime District 9 market is back with conviction. A CDL and Hong Leong Group joint venture submitted a top bid of $542.4 million — $1,865 psf per plot ratio — the second-highest land rate ever recorded for a residential GLS site in Singapore’s Core Central Region (CCR). If you’re a homebuyer or investor tracking Newton, District 9, or CCR new launches for 2028, this guide breaks down exactly what the result means, what the future condo will likely cost, and whether you should register interest now or wait.
1. What Happened: The Peck Hay Road GLS Tender Result
The GLS tender for the Peck Hay Road site closed on 11 June 2026, attracting four bids with the highest offer from a joint venture between City Developments Ltd and Garden Estates Ltd, a subsidiary of Hong Leong Group, at $542.4 million — approximately $1,865 psf ppr — setting a new benchmark for recent CCR land sales in the Newton area.
The result exceeded analyst expectations. Huttons Asia CEO Mark Yip had forecast a top bid of between $1,600 and $1,800 psf ppr. The actual winning bid landed 3.6% above even the optimistic end of that range.
The top offer was around 8.4% higher than the second-highest bid from a Sunway MCL and CSC Land Group joint venture at $1,720 psf ppr. Third and fourth bids came from China Overseas Land & Investment and an Intrepid Investments-TID Residential joint venture — both significantly lower, reflecting split developer views on sustainable land value at this Newton District 9 location.
Through their 80:20 joint venture, CDL and Hong Realty plan to develop a 39-storey tower housing around 380 residences — higher than the 315 units originally indicated by URA when the site was launched in April.
2. Where Is Peck Hay Road? Location Breakdown
map of Peck Hay Road GLS site location, Newton District 9 Singapore.
The 59,347 sq ft site sits at the junction of Peck Hay Road and Scotts Road, directly opposite Sheraton Towers and adjacent to the NEA building — firmly within an established and highly built-up part of the CCR.
Connectivity:
The site sits 200 metres from Newton MRT Interchange, serving both the North-South and Downtown Lines — putting residents one stop from the Orchard Road shopping belt. For drivers, Scotts Road, Bukit Timah Road, and the CTE provide direct access to every part of Singapore.
Schools within 1km:
ACS Primary and ACS Junior are currently within 1km of the Peck Hay Road plot. Note that ACS Primary is scheduled to relocate to Tengah in 2030. Within 2km: River Valley Primary, Singapore Chinese Girls’ Primary, St Joseph’s Institution Junior, and St Margaret’s School.
Lifestyle:
Newton Food Centre, United Square, Novena Square, and Plaza Singapura are all within easy reach. Orchard Road’s full shopping belt — ION Orchard, Ngee Ann City, Paragon — sits just one MRT stop away.
3. What Will the Peck Hay Road Condo Actually Cost You?
This is where most articles stop at analyst projections. We go further with an original buyer affordability breakdown.
Analyst Price Projections:
| Analyst | Projected Launch PSF |
|---|---|
| CBRE | $3,450 – $3,550 psf |
| DBS | Mid-to-high $3,000s psf |
| Knight Frank | $3,700 – $3,900 psf |
Using a mid-range estimate of $3,600 psf, here’s what different unit sizes will cost — and what you actually need in cash:
For a 1-Bedroom (~500 sqft) at $3,600 psf:
| Item | Amount |
|---|---|
| Estimated Price | $1,800,000 |
| 25% Downpayment (1st property) | $450,000 |
| BSD | ~$53,100 |
| ABSD (2nd property, SC, 20%) | $360,000 |
| Cash needed (2nd property buyer) | ~$863,100 |
| Est. Monthly Repayment (30yr, 3.5%) | ~$6,740 |
For a 2-Bedroom (~800 sqft) at $3,600 psf:
| Item | Amount |
|---|---|
| Estimated Price | $2,880,000 |
| 25% Downpayment (1st property) | $720,000 |
| BSD | ~$96,900 |
| ABSD (2nd property, SC, 20%) | $576,000 |
| Cash needed (2nd property buyer) | ~$1,392,900 |
| Est. Monthly Repayment (30yr, 3.5%) | ~$10,780 |
All figures are estimates based on projected pricing. BSD and ABSD calculated using current rates. This does not constitute financial advice.
How does Peck Hay Road compare to current CCR options?
| Project | Tenure | Avg PSF 2026 | MRT | Units |
|---|---|---|---|---|
| Peck Hay Road (future) | 99-yr | ~$3,450–3,900 | Newton (200m) | ~380 |
| Kopar at Newton | 99-yr | $2,538 (resale) | Newton | 378 |
| Pullman Residences Newton | Freehold | $3,011 (resale) | Newton | 340 |
| River Modern | 99-yr | $3,266 (launched) | Great World | 455 |
4. The Newton Transformation — Why Developers Are Betting Big
Under the latest URA Master Plan, the Newton, Scotts Road, and Monk’s Hill area is set to evolve into a vibrant mixed-use urban village over the next 10 to 15 years, with around 5,000 new homes, new community spaces, enhanced greenery, and a wider range of amenities — creating a more liveable and connected neighbourhood in the heart of Singapore’s CCR.
The Peck Hay Road site is the second GLS plot in the Newton area earmarked for this transformation, following the Bukit Timah Road site awarded in November 2025 at $1,820 psf ppr. The fact that the Peck Hay Road result came in 2.5% higher still — despite fewer bidders — tells you developers are pricing the transformation story aggressively.
5. Who Should Be Watching the Peck Hay Road Condo?
✅ HDB Upgraders Planning 3–5 Years Ahead
With a 2028 launch timeline, you have a window to complete your HDB Minimum Occupation Period, reduce CPF accrued interest, and plan your ABSD position. At projected prices of $3,400–$3,900 psf, this is a premium commitment — start your financial planning now, not in 2027.
✅ CCR Investors
The Newton rental market benefits from expatriate demand, dual-line MRT, international school proximity, and Orchard Road adjacency. Strong recent CCR launch performance signals healthy demand depth for well-located District 9 new launch projects.
✅ School-Driven Family Buyers
ACS Junior’s 1km priority registration catchment is one of the most sought-after school proximity advantages in Singapore. Families planning 5–10 years ahead for boys’ primary school admission have very limited CCR options with this combination of MRT access and school proximity.
❌ Who Should NOT Buy This
If your budget ceiling is $2M or below, or you need a property within the next 2 years, this is not the right project. Look at current CCR launches or resale options in the Newton corridor instead.
6. Should I Wait for Peck Hay Road or Buy Something in the CCR Now?
| Your Situation | Recommendation |
|---|---|
| Ready to buy now, budget $2M–$3M | Consider current CCR new launches or Newton resale — don’t wait 2 years |
| Ready to buy in 2027–2028, budget $3M+ | Register interest, monitor, commit at launch |
| HDB, MOP completing 2027–2028 | Start financial planning now, register early interest today |
| Investor, already owns 1 property | Factor 20% ABSD into ROI calculations carefully before committing |
| School priority for ACS Junior 1km | Strong case to wait — 1km catchment this close to MRT is rare in CCR |
Get a free personalised assessment from our property consultants — no obligation.👉 Register Interest at OfficialLaunch.com.sg or WhatsApp 8666 3339
7. Timeline — What Happens Between Now and Launch
| Stage | Expected Timing |
|---|---|
| GLS Award confirmed | Mid–Late 2026 |
| Developer appoints architect | Late 2026 |
| Design & planning approval | 2027 |
| Showflat construction | Early–Mid 2028 |
| Public sales launch | 2H 2028 (earliest) |
| Expected TOP | 2032–2033 |
What to do at each stage:
- Now: Register interest to get first access to floor plans and pricing preview
- 2027: Review your financial position, get an In-Principle Approval (IPA) from your bank
- Early 2028: Attend showflat preview — first registered buyers typically get priority slots
- Launch day: Be decision-ready — well-located CCR new launch condos sell fast on launch weekend
Frequently Asked Questions
When will the Peck Hay Road condo launch for public sale?
The earliest realistic public sales window is 2H 2028, approximately 18–24 months after the GLS award expected in mid-2026. The developer will spend this time on design, planning approvals, and showflat construction before opening the District 9 new launch for sale.
What is the expected price of the Peck Hay Road condo?
Based on the land cost of $1,865 psf ppr, analysts project launch prices between $3,450 and $3,900 psf. CBRE estimates $3,450–$3,550 psf while Knight Frank projects $3,700–$3,900 psf. Final pricing will depend on unit mix, product design, and CCR new launch market conditions at time of launch.
Is the Peck Hay Road condo freehold or leasehold?
The site is 99-year leasehold, consistent with all GLS sites in Singapore. The lease commences from the date of award, not the date of purchase.
Who is the developer of the Peck Hay Road condo?
A joint venture between City Developments Ltd (CDL, 80%) and Hong Realty, a subsidiary of Hong Leong Group (20%). CDL is one of Singapore’s most established developers with a strong CCR track record including Newport Residences and Cuscaden Reserve.
How many units will the Peck Hay Road Newton condo have?
Approximately 380 units across a 39-storey tower. This is higher than the 315 units originally indicated by URA when the site was launched in April 2026.
What schools are near the Peck Hay Road condo?
ACS Junior and ACS Primary are currently within 1km — ACS Primary is scheduled to relocate to Tengah in 2030. Within 2km: River Valley Primary, Singapore Chinese Girls’ Primary, St Joseph’s Institution Junior, and St Margaret’s School.
Should I register interest now even though the Newton condo launch is 2 years away?
Yes — early registrants typically receive priority access to floor plan previews, pricing briefings, and showflat appointment slots before the Peck Hay Road public launch. Registration is free and non-binding.
Register your early interest today — get notified the moment floor plans, unit mix, and indicative pricing are released for this District 9 new launch.👉 Register at OfficialLaunch.com.sg or WhatsApp 8666 3339 for a private consultation.
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HomeBuyers Singapore Editorial Team
Singapore property guides, GLS analysis, and new launch reviews — written for buyers, not developers. All figures are estimates based on publicly available URA tender data and analyst commentary. This article does not constitute financial advice. Consult a licensed property agent for personalised guidance.
