Buyers snap up 84% of Zyon Grand units at launch, one goes for more than $10m

Sales at the luxury private development Zyon Grand continued the strong momentum seen in recent weekend launches, with the River Valley project selling 590 of its 706 units, or 84 per cent, at an average of $3,050 per square foot (psf).

Almost all buyers at Zyon Grand were Singaporeans and permanent residents, developers City Developments (CDL) and Mitsui Fudosan said in a statement on Oct 26.

Prices started from $1.3 million for a one-bedroom-plus-study unit of 474 square feet, $1.47 million for a two-bedder (538 sq ft), $2.2 million for a three-bedder (818 sq ft), $3.97 million for a four-bedroom premium unit with private lift (1,421 sq ft), and $5.99 million for five-bedroom supreme units with private lift (1,819 sq ft).

One of two exclusive five-bedroom penthouse units was sold for over $10 million, the developers said.

Huttons Asia chief executive Mark Yip estimated that more than 80 per cent of the three-bedroom-plus-study and larger units sold on launch weekend were priced at $3 million and above, reflecting the depth of liquidity in the current market.

"We are very pleased with the strong response to Zyon Grand, particularly amid a very active period of new property launches," said CDL group CEO Sherman Kwek.

"As one of the largest projects launched this year, the positive take-up reflects the market's confidence in this landmark integrated development and the genuine demand for distinctive homes in a sought-after neighbourhood."

Zyon Grand is the third 99-year leasehold project to be launched in the River Valley area in 2025, after Wing Tai's River Green and Allgreen Properties' Promenade Peak were marketed in August.

River Green sold 88 per cent of its 524 units at an average price of $3,130 psf, while Promenade Peak sold 54 per cent of its 596 units at an average price of $2,894 to $3,343 psf.

A fourth project - River Modern by GuocoLand - will come to market in the first quarter of 2026.

Of the four land parcels in the area, CDL and Mitsui's unit land cost for the Zyon Grand plot was the lowest on a psf basis. The developers paid $1,202 psf per plot ratio (psf ppr) for the site, which includes a mandatory long-stay serviced apartment component.

In comparison, Allgreen Properties paid $1,304 psf ppr for its Promenade Peak plot in Zion Road and Wing Tai paid $1,325 psf ppr for its River Green plot at River Valley Green. GuocoLand clinched a second River Valley Green site for $1,420 psf ppr.

Apart from the two 62-storey residential towers, Zyon Grand will also include restaurants, a supermarket, an early childhood development centre and a 36-storey tower of long-stay serviced apartments.

Observers agreed that the development's integrated features, location and direct connection to Havelock MRT station on the Thomson-East Coast Line drove sales.

Mr Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, said: "There are only a few integrated sites that are released for sale under the government land sales programme each year, and even less common are those found in more central and prime locations."

While prime city locations traditionally appeal to younger couples, Mr Quek said Realion observed families buying this project as it falls within one to two kilometres of many popular schools.

Upgraders who leveraged on the strong resale prices of HDB flats in nearby towns also supported the demand for Zyon Grand, he added, pointing out that median prices of new four-room and five-room flats below 20 years old in Bukit Merah and Queenstown surpassed $1 million in the third quarter of 2025.

PropNex CEO Kelvin Fong cited continued confidence among home buyers, with Zyon Grand now the fourth new project in 2025 to have sold more than 500 units at launch.

Parktown Residences cleared 1,041 units on its first weekend, Springleaf Residence sold 870 homes, and The Orie moved 668 units. Most recently, Skye at Holland sold 658 units.

Mr Mohan Sandrasegeran, head of research and data analytics, Singapore Realtors Inc, noted that the month of October is on track to show the highest monthly new home sales in the year to date, coming in behind only August, when 2,142 new homes were sold excluding executive condominiums.

Three major launches that came to market in October before Zyon Grand - Skye at Holland, Penrith and Faber Residence - racked up over 1,600 units sold as at Oct 19.