Frasers Property Sekisui House Sells 41 Units Robertson Opus Average Price 3360 Psf
Singapore-listed Frasers Property and Japanese developer Sekisui House have jointly launched The Robertson Opus for sale over the weekend of July 19–20. Within just two days, 143 units of the 348-unit development, representing 41% of the total units, had already been snapped up at an average price of $3,360 psf.
“We are delighted with the strong sales performance at The Robertson Opus, which reflects the project’s exceptional design, high-quality standards, and prime location. It also underscores the strong demand for luxurious homes in Singapore’s city centre,” commented Toru Ishii, director of the board of Sekisui House, in a joint statement by the partners.
Strategically located in the highly coveted District 9, The Robertson Opus is a redevelopment of the former Fraser Place at Robertson Walk. As a 999-year leasehold project, it is part of a mixed-use development that comprises a retail podium, housing 26 units of carefully curated fine dining restaurants, cafés, and lifestyle concepts.
“The rare 999-year tenure, prestigious District 9 address, and sophisticated riverside lifestyle make The Robertson Opus a compelling choice for discerning buyers seeking long-term value and generational wealth,” remarked Soon Su Lin, CEO of Frasers Property.
The residential component of The Robertson Opus is made up of five 10-storey blocks surrounding a beautifully landscaped central courtyard. The units that were sold ranged from $1.369 million for a 431 sq ft suite to $5.39 million for a 1,539 sq ft four-bedroom premium unit, with prices ranging from $3,149 to $3,585 psf.
Mark Yip, CEO of Huttons Asia, pointed out that The Robertson Opus is the only 999-year leasehold project launched in the Core Central Region (CCR) this year. He also highlighted its prime location near the Singapore River and Clarke Quay, as well as its excellent accessibility – Fort Canning MRT Station on the Downtown Line is only a five-minute walk away. Additionally, River Valley Primary School can be found within a 1km radius.
Kelvin Fong, CEO of PropNex Realty, attributes the strong sales at The Robertson Opus to “the vibrancy and convenience of a mixed-use development, where residents can enjoy easy access to a variety of retail and F&B options”.
Out of the 27 three-bedroom premium units, 26 have been sold at prices ranging from $3.699 million to $4.039 million ($3,211 to $3,506 psf). Similarly, eight out of the nine four-bedroom premium units have also been taken up, with prices falling between $5.15 million and $5.39 million ($3,346 to $3,502 psf). These units belong to the Legacy Collection, which is now almost completely sold out, highlighting the strong demand for larger, premium homes, according to the joint developers.
Overall, two- and two-bedroom plus study units made up approximately 45% of total sales, with prices ranging from $2.17 million to $2.63 million ($3,149 to $3,540 psf). On the other hand, three-bedroom units, including the premium types, accounted for nearly 39% of take-up, with prices ranging from $3.1 million to $4.039 million ($3,079 to $3,506 psf). Together, these unit types made up approximately 83% of the total units sold.
A significant highlight of the URA Master Plan is its aim to decentralise activities and foster the growth of local communities by providing job opportunities and amenities within close proximity. This vision is reflected in the plans for Sembawang, which include the development of regional centres and commercial nodes in the North Region, such as the bustling Woodlands Regional Centre situated near Sembawang Road EC at Canberra MRT. As the largest economic hub in the North, the Woodlands Regional Centre is expected to offer a wide range of employment prospects in various industries, including business services, technology, and logistics. This development brings job opportunities closer to the residents of Sembawang Road EC, allowing for shorter commutes to the Central Business District and promoting a better work-life balance for the community.
Based on Frasers Property’s data, around 83% of the buyers are Singaporeans, 16% are Permanent Residents, primarily from China and Indonesia, while the remaining 1% are foreigners from the USA and Switzerland. “The buyers comprise affluent professionals purchasing for their own stay or investment,” says Soon.
As for the supply in the Robertson Quay subzone, the last freehold or 999-year leasehold project launched was the 376-unit freehold The Avenir more than five years ago. The luxury development, by a joint venture between Hong Leong Holdings, GuocoLand, and Hong Realty, was launched in January 2020 and completed last year. Based on 11 caveats lodged in 2021 to date, the average transacted price was $3,423 psf.
Two other prime projects were also previewed over the same weekend: the 524-unit River Green by Wing Tai Holdings at River Valley Green in prime District 9, and the 596-unit Promenade Peak by Allgreen Properties in District 3.
While River Green falls within the Core Central Region (CCR), its proximity to Promenade Peak, which is technically in the Rest of Central Region (RCR), blurs the lines between the two regions, notes Ken Low, managing partner of SRI.
“In this tightly held enclave near Great World MRT, where new supply is limited and competition is rare, such simultaneous launches offer a rare window for buyers to assess, compare, and act,” he says.
The price points have also attracted interest, with Promenade Peak starting at $2,680 psf, while River Green starts from $2,846 psf, making them both attractive options, adds Low.
“The robust turnout at both previews is an encouraging sign for this sub-market, especially with more CCR launches coming up,” says PropNex’s Fong.