Zyon Grand, a luxury development comprising 706 units located at Zion Road, sold 590 units, representing 84% of its total inventory, during its launch weekend. This project is a collaboration between City Developments Limited (CDL) and Mitsui Fudosan (Asia).

The units were sold at an average price of $3,050 per square foot, as disclosed by City Developments Limited (CDL) in a statement on October 26.

This project features a 62-storey twin tower luxury residence that offers direct access to Havelock MRT station on the Thomson-East Coast Line and is part of a landmark integrated development. The development includes Zyon Galleria, which features restaurants, a supermarket, an early childhood development centre, and a 36-storey tower hosting Singapore’s first long-stay serviced apartment concept.

According to CDL, approximately 84% of the buyers are Singaporeans, while the remaining 14% are Permanent Residents (PRs) from countries such as China, Malaysia, India, Indonesia, South Korea, and Japan, among others. All unit types were well-received by home buyers, with one of the two five-bedroom penthouses selling for over $10 million.

Apartments are priced starting from $1.298 million for a 474 sq ft one-bedroom plus study, from $1.468 million for a 538 sq ft two-bedroom unit, and $2.2 million for an 818 sq ft three-bedroom apartment. Prices for 1,421 sq ft four-bedroom premium units with private lifts start at $3.968 million, while five-bedroom supreme units with private lifts, located on levels 44 to 61, begin at $5.988 million.

“We are very pleased with the strong response to Zyon Grand, especially during a particularly active phase of new property launches,” stated CDL’s group CEO Sherman Kwek.

“As one of the largest projects launched this year, the positive uptake reflects the market's confidence in this landmark integrated development and the genuine demand for distinctive homes in a desirable neighborhood,” he added.

Daijiro Eguchi, managing director of Mitsui Fudosan (Asia), expressed his satisfaction with the “positive response” towards Zyon Grand.

“It’s encouraging to see that buyers are attracted not just to its prime location and thoughtful design, but also to the lifestyle and sense of community it offers. We appreciate that homebuyers recognize the unique value and quality that CDL and Mitsui Fudosan have brought together in this development,” he remarked.

Mark Yip, CEO of Huttons Asia, observed that the robust sales reflect the "depth of liquidity" in the market. Huttons Data Analytics estimates that over 80% of the three-bedroom plus study and larger units sold were priced at $3 million and above.

"Zyon Grand's outstanding locational attributes and its integration with transport and amenities were frequently cited by buyers as key reasons for their purchases," Yip stated.

"Three-bedroom and larger unit types attracted a higher number of owner-occupiers, with more than 85% of these units sold. Seventy-nine out of the 98 four-bedroom units were sold," he added.

Shares of CDL closed 7 cents higher, up 0.96% at $7.37 on October 24.