City Developments Limited (CDL) has seen an enthusiastic response to Union Square Residences, with 20% of its units snapped up at an average price of $3,200 per square foot. Since its Nov 1 preview, 75 out of 366 units have been sold as of today, Nov 9.
Buyer Profile and Notable Sales
The project has attracted primarily Singaporean buyers, who make up 83% of the purchases. The remaining 17% are Permanent Residents and foreigners from countries including China, Malaysia, the UK, Norway, and the USA.
A highlight sale was a spacious five-bedroom Sky Suite on level 38, which sold for $9.288 million ($3,751 psf). The final Sky Suite on level 39 is currently listed at $9.5 million, offering panoramic views over the Singapore River and Marina Bay.
Unit Types and Pricing
Union Square Residences offers a range of unit sizes, with the popular one-, two-, and three-bedroom premium units starting at $1.38 million for a 463 sq ft one-bedroom, while four-bedroom units begin at $4.62 million. CDL reports steady interest across all unit types.
A Prime Location with Iconic Mixed-Use Appeal
Located on Havelock Road, Union Square Residences is part of a transformative mixed-use development that brings together residential units, offices, retail, and F&B spaces. This redevelopment of Central Mall and Central Square adds a fresh vibrancy to the Clarke Quay area, with its iconic location near the Singapore River and a stone’s throw from three MRT stations: Clarke Quay, Chinatown, and Fort Canning.
Developer and Market Sentiment
CDL’s group CEO, Sherman Kwek, emphasized that the strong sales reflect enduring interest in prime mixed-use developments. ERA CEO Marcus Chu adds that Union Square offers a rare opportunity to invest in a landmark project close to the CBD, drawing buyers who appreciate the convenience and unique lifestyle offerings of the location.
Union Square as a Unique Offering in the Area
In District 1, Union Square stands out as one of the last mixed-use projects along the Singapore River. Its proximity to lifestyle hubs like Clarke Quay and Robertson Quay, plus the new CanningHill Square, adds to its unique appeal. Mark Yip, CEO of Huttons Asia, noted that buyers are keen on the rare opportunity to live near the CBD while enjoying close access to riverfront amenities.
In Comparison: Recent Prime Launches
Union Square’s launch comes amid other exciting releases in prime areas, such as The Collective at One Sophia, which sold 35 units over a recent weekend at an average of $2,750 psf. In the Core Central Region, projects like Midtown Modern and CanningHill Piers are nearly sold out, signaling continued interest in 99-year leasehold mixed-use developments in central locations.
Union Square Residences has quickly proven its draw, merging residential living with an engaging retail, office, and lifestyle mix that positions it as a highly sought-after urban oasis.