buying into Union Square.
The first large-scale mixed-use redevelopment in the Singapore River Planning Area under URA’s Strategic Development Incentive Scheme — walking distance to three MRT stations across two lines, with proven launch-day demand (75 of 366 units, including a Sky Suite, sold day one at S$3,200 psf ASP) and positioned for compounding through a 5–10 year hold.
01
Pillar 1
Proven Multi-Pool buyer Demand
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Pillar 2
Triple-line MRT walking distance
03
Pillar 3
URA SDI Scheme First-Mover
Pillar 1
01
The most overlooked dimension of investment property analysis is who you’ll sell to in 5–10 years. A property with a single buyer profile is exposed to that segment’s cyclical preferences. A property with multiple structural buyer pools tends to maintain liquidity across cycles. Union Square’s exit profile is unusual in that all three buyer segments have already been validated at launch — not theorized, but observed on November 9, 2024 when 75 units were absorbed in a single day across the buyer mix below:
1
Local CBD professionals
83% of launch-day buyers were Singaporeans — a strong signal that the project’s primary demand pool is local professionals working in the CBD, Singapore River, and Marina Bay corridor. The 1BR, 2BR, and 3BR Premium types absorbed fastest at launch, consistent with single-professional and dual-income-no-kids profiles. This buyer pool is anchored to actual employment, not speculative, and re-appears reliably across cycles.
2
International investor demand
17% of launch-day buyers were Permanent Residents and foreign buyers — drawn from China, Malaysia, the UK, the Netherlands, Norway, and the USA. District 1 CBD-gateway property is one of the few Singapore residential profiles that meaningfully attracts foreign capital, supported by the project’s mixed-use integration and CDL’s international brand recognition. This second pool gives Union Square a buyer base that lower-CCR projects often lack.
3
HDB upgraders from surrounding precincts
The Tiong Bahru, Outram, Bukit Merah, and Chinatown HDB estates form a substantial upgrader catchment for this CBD-gateway address. Households who have built equity in their HDB flats and want a private residence within reach of their existing precinct represent a third structural pool. The Sky Suite that sold on launch day at S$9.288M demonstrated that the project also has reach into Singapore’s highest-end buyer tier.
Properties with broad exit liquidity — and three pools already observed at the launch event itself — command tighter bid-ask spreads at resale and produce more reliable holding-period returns than properties dependent on a single buyer segment.
Pillar 2
02
Union Square Residences sits within walking distance of three MRT stations on two different MRT lines — operational, mature, and already integrated into the daily commute patterns of Singapore’s professional population. This is structurally rarer than the typical “1 MRT within walking distance” claim that anchors most new launches in Singapore. The rental and own-stay value case here is anchored to existing, established demand across multiple commute corridors.
The structural advantage is the three-station catchment — Clarke Quay (NE5 on NEL, ~400m), Chinatown (NE4/DT19 on NEL + DTL interchange), and Fort Canning (DT20 on DTL). From three different walking-distance entry points, residents access two MRT lines, the entire CBD belt, the Civic District, Orchard, and the rest of the island within minutes.
This is not a speculative future-state argument — both the NEL (operational since 2003) and the DTL (Stage 3 operational since 2017) are mature, fully integrated into Singapore’s commute backbone. For investors, having walking-distance access to two MRT lines from a single project means rental yield is supported across cycles, regardless of which specific corridor leads at any given time.
Pillar 3
03
The URA Strategic Development Incentive (SDI) Scheme, introduced in 2019, is designed to encourage the rejuvenation of older properties into vibrant, high-yield mixed-use developments aligned with Singapore’s long-term urban planning goals. Union Square is the first large-scale SDI project in the Singapore River Planning Area — and one of very few large SDI projects in Singapore overall. CDL was granted a 67% increase in gross floor area on the combined Central Mall + Central Square site, from 441,650 sq ft to 735,500 sq ft. This regulatory uplift is the structural foundation of the project’s economics and is not available to neighbouring sites without comparable SDI approval.
Future large-scale residential supply within the Singapore River precinct is constrained by the existing built environment and conservation overlay zones. The competitive set for Union Square Residences — new launches offering walking-distance access to three MRT stations across two MRT lines at the gateway of the CBD — is structurally narrow, and the SDI approval that anchors the project’s GFA economics is a one-off planning decision rather than a repeatable template.
“The URA SDI scheme is a one-off regulatory uplift — not a launch cadence that the market can simply repeat at neighbouring sites.”
Homes Designed for Every Lifestyle
Floor-to-ceiling windows frame panoramic views of the Singapore River, Marina Bay, Pearl’s Hill and Fort Canning Hill across every residence. From compact 1-bedroom apartments to expansive Sky Suites and the exclusive Penthouse, each home is finished with smart home technology, premium European fittings, and Green Mark Platinum certification.
Outperforming Other
Launches in District 1
A side-by-side look at Union Square Residences against other launches in the District 1 / Singapore River corridor.
Built by CDL — within walking distance of three MRT stations and the rejuvenated Singapore River.
- 3 MRT Stations Walking Distance
- 366 Luxury Residences
- Integrated With Office, Retail, & Co-Living
Other District 1
Launches
Single-MRT access and fewer integrated lifestyle amenities.
- Further from Multiple MRT Lines
- Limited Availability
- Fewer Integrated Mixed-Use Options
For investors, stack and floor selection matter more than they do for own-stay buyers. Resale liquidity, rental premium, and capital appreciation all vary meaningfully by stack quality — facing, floor level, layout efficiency, and view of the Singapore River, Marina Bay, or Fort Canning Hill.
Developers typically step up pricing through subsequent phase releases as inventory absorbs — historically 3–5% per phase. Booking at the current phase locks the present price; every subsequent phase increment after that affects unsold inventory, not your signed contract. The earlier you reserve, the more of the river-facing and higher-floor inventory is still available.
1
Direct-developer pricing locked at current phase before next step-up
2
Latest balance unit chart access — see what’s actually still available
3
Priority on river-facing and higher-floor inventory still held
4
Dedicated specialist for investment-specific queries · no commission
Project at a Glance
A quick look at
Union Square.
Location
20 Havelock Road
District 1 · Clarke Quay MRT (NEL) 400m · Chinatown (NEL/DTL) · Fort Canning (DTL)
Developer
City Developments Limited
SGX-listed · Singapore's most trusted developer · 48,000+ homes delivered
Unit Mix
1BR to Penthouse
366 luxury units · including 1BR+Study, 2BR+Study, 3BR Premium, Sky Suites, 1 Penthouse
Schools Nearby
City & arts education
River Valley Primary · LASALLE · NAFA · School of the Arts · SMU
Lifestyle
Clarke Quay, Robertson Quay, Chinatown
Riverfront F&B, heritage shophouses, Fort Canning Park & the Civic District
Tenure
99-Year Leasehold
Standard private residential tenure
Sales Status
Sales Launched Nov 2024
Currently selling · Average S$3,200 psf launch ASP · TOP Q1 2029
Location
20 Havelock Road
District 1 · Clarke Quay MRT (NEL) 400m · Chinatown (NEL/DTL) · Fort Canning (DTL)
Developer
City Developments Limited
SGX-listed · Singapore's most trusted developer · 48,000+ homes delivered
Unit Mix
1BR to Penthouse
366 luxury units · including 1BR+Study, 2BR+Study, 3BR Premium, Sky Suites, 1 Penthouse
Schools Nearby
City & arts education
River Valley Primary · LASALLE · NAFA · School of the Arts · SMU
Lifestyle
Clarke Quay, Robertson Quay, Chinatown
Riverfront F&B, heritage shophouses, Fort Canning Park & the Civic District
Tenure
99-Year Leasehold
Standard private residential tenure
Sales Status
Sales Launched Nov 2024
Currently selling · Average S$3,200 psf launch ASP · TOP Q1 2029
Union Square Residences is supported by a one-off URA SDI regulatory uplift, walking-distance coverage on two MRT lines, and three buyer pools already validated at launch. For investors evaluating prime District 1 / CCR exposure with a 5–10 year hold horizon, it warrants a place on the shortlist.
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Learn more about the Project Based on Your Profile.
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An independent marketing platform managed by Propfunnels Pte. Limited. All information is provided for reference only. Enquiries are handled exclusively by CEA-licensed real estate agents.
Developer: City Developments Limited (CDL)
Tenure: 99-year leasehold
Expected TOP: Q1 2029
Sales Launched: November 2024 · Currently Selling
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