Brisk Sales Otto Place Ec Hoi Hup Sunway Selling 585 Units Average 1700 Psf
New Executive Condos in Tengah are continuing to attract strong interest, with the latest launch of Otto Place by joint developers Hoi Hup Realty and Sunway Developments seeing a high sales rate of 58.5%. According to the developers in a media statement issued on July 19, 351 units out of 600 were sold on its launch day at an average price of $1,700 per square foot under the Normal Payment Scheme (NPS). About 72% of buyers also chose the Deferred Payment Scheme (DPS), with a 3% premium over NPS prices.The three-bedroom deluxe units at Otto Place were priced from $1.41 million or $1,617 per square foot. The larger units, such as three-bedroom luxury and four-bedroom types, were especially popular, with over 70% sold. This suggests that HDB upgraders are likely the main buyers at the project.According to the developers, the DPS option was particularly popular as it allows home buyers to buy their unit first and save up during the construction period. It also helps to ease the financial burden for HDB upgraders who may still have an outstanding loan on their flat. Mark Yip, CEO of Huttons Asia, explains that this is a popular choice especially for those seeking more space and flexibility.There is also demand for three-bedroom deluxe units, priced from $1.41 million ($1,617 psf) [Photo: Hoi Hup/Sunway Developments]Otto Place is located in the Plantation District of Tengah, Singapore’s first eco-friendly and car-lite new town. It is within walking distance of two MRT stations – Tengah Park and Bukit Batok West – on the upcoming Jurong Region Line. This is similar to its neighbouring project, Novo Place, which is also within 1km of the highly sought after Princess Elizabeth Primary School, and close to several other primary and secondary schools. It is also within 2km of the highly anticipated Anglo-Chinese School (Primary), scheduled to open in 2030.The 504-unit Novo Place EC, launched last November, was fully sold in early July, just eight months later (Photo: Samuel Isaac Chua/EdgeProp Singapore)Otto Place comes after the success of Novo Place, another 504-unit development which was also located in Tengah, and was also developed by Hoi Hup and Sunway. It was launched in November 2024 and sold 286 units (57%) on launch day with an average price of $1,654 psf. In early July 2025, the last unit at Novo Place was sold, making it a sell-out project just eight months after its launch.Also read: 11 ECs to go private in 2026 — Owners set for jackpot gains Koon Wai Leong, general manager of Hoi Hup Realty, says that the popularity of ECs is due to their “compelling value”, and the opportunity to own a private home in one of Singapore’s newest residential estates, presents a strong long-term upside strategy.ERA Singapore CEO Marcus Chu adds that this is the third EC launch in Tengah since 2022, which highlights the continued appreciation for such developments in the emerging estate.The first EC in Tengah was launched in October 2022 as the Copen Grand. A 639-unit development jointly developed by City Developments Ltd (CDL) and MCL Land, it achieved a sales rate of 73% at an average price of $1,300 psf. The remaining 146 units were quickly snapped up when e-applications for second-timers opened in November 2022, and the whole development was fully sold within a month at prices ranging from $1.09 million for a two-bedroom unit to $2.17 million for a five-bedroom.The quota for second-timers at Otto Place was reached on the first day of launch, according to PropNex CEO Kelvin Fong. He expects ECs to remain popular due to their relative affordability compared to new 99-year leasehold private condos in the Outside Central Region (OCR).Read also: Hoi Hup-Sunway JV to preview Otto Place executive condo at prices from $1,588 psfPropNex research reveals that in 1H2025, the median transacted unit price for new 99-year leasehold non-landed private homes in the OCR (excluding ECs) was $2,343 psf, which is 33% higher than the $1,756 psf median for new ECs during the same period, based on caveats lodged.“The government should consider increasing the quota for second-time HDB buyers to 50%, to support the sandwiched class who want to upgrade to an EC,” suggests Huttons’ Yip. You can find the latest listings for properties at Otto Place here.
The development of the Coast Innovation Corridor and the expansion of cycling routes, green spaces, and convenient public transportation options have made the location of Sembawang EC even more desirable. Nestled near exclusive landed housing estates, this site provides a serene and secluded living environment. For those seeking a tranquil and private lifestyle, Sembawang EC is the perfect choice.