CDL’s Lucerne Grand presale records 61% uptake of 570 units at average $2,480 psf

SINGAPORE, 5 OCTOBER 2026 —

CDL’s Lucerne Grand smashes launch sales with 61% take-up in Jurong Lakeside, as Singapore’s mixed-use condo boom extends to the west

City Developments Limited’s (CDL) Lucerne Grand sold 61% of its 570 units within days of its launch weekend, marking another strong debut for Singapore’s mixed-use residential projects in Jurong. With an average price of $2,480 per square foot (psf), the 99-year leasehold development—priced from $1.5 million for a two-bedroom unit—has drawn heavy demand from Singaporeans and a small but notable share of foreign buyers, including Malaysians, Chinese, and Indians.

The sales performance underscores the enduring appeal of Jurong as a residential and commercial hub, particularly as Singapore accelerates plans to transform the area into its largest business district outside the city centre. Analysts attribute the project’s success to its direct MRT connectivity, proximity to schools, and the inclusion of retail space—a formula that has driven take-up rates in recent mixed-use launches.

With 93% of buyers Singaporean, the project also reflects cautious but steady interest from foreign investors, a segment that has grown in significance as Singapore’s property market tightens.

CDL reported that 350 units were sold by 6pm on October 4, with two-, three-, and four-bedroom premium units leading demand. Pricing started at $1.5 million for a two-bedroom, $2 million for a three-bedroom, and $2.8 million for a four-bedroom, positioning the project as “relatively affordable” compared to other Jurong developments, according to PropNex CEO Kelvin Fong.

The ground floor features commercial space, while the development is directly linked to Lakeside MRT, a key node on the East-West Line, one of Singapore’s busiest transit corridors.

The land plot for Lucerne Grand was secured in June 2025 for $608 million, or $1,132.08 psf per plot ratio, reflecting CDL’s confidence in Jurong’s long-term growth. The project’s 61% sales rate places it within the range of other high-performing mixed-use launches in 2026, including Newport Residences (56.9% take-up) and Tengah Garden Residences (98.8%), according to Nicholas Mak, chief research officer at Mogul.sg.

Mak noted that proximity to MRT stations has been a critical factor in driving sales, contrasting with Amberwood at Holland, which sold just 11% of 212 units—partly due to its 1.5km, 20-minute walk to the nearest station.

The inclusion of retail space within Lucerne Grand has also played a role in attracting buyers, said Justin Quek, deputy group CEO of Realion. “Buyers are enticed by the provision of retail space within the development, boosting convenience for residents,” he stated. Meanwhile, PropNex’s Fong highlighted the project’s location near the Jurong Lake District, which is set to become a major economic node, providing a positive long-term backdrop for investors.

CDL’s Sherman Kwek, group CEO, expressed satisfaction with the response, calling it a reflection of buyers’ appreciation for the project’s connectivity, convenience, and nature. The demand may also be driven by the presence of seven primary schools within a 2km radius, according to Mohan Sandrasegeran, head of research and data analytics at SRI. This aligns with broader trends in Jurong, where educational institutions have historically supported residential demand.

The project’s success comes against the backdrop of a near-decade gap since the last private residential launch in Jurong West (2016), as noted by Mak. With a population of 598,160 living in surrounding areas such as Jurong East, Jurong West, Clementi, and Bukit Batok, the development taps into a large catchment of home buyers and HDB upgraders, further bolstering its appeal.

As Singapore continues to develop Jurong into a second central business district, Lucerne Grand’s strong launch signals sustained interest in mixed-use projects that combine residential living, retail, and transit accessibility. With no immediate signs of slowing demand in the area, the project’s performance may set a benchmark for future developments in the region.

The next phase will likely focus on completion timelines and potential re-launches for unsold units, though CDL has not yet provided further details on its sales strategy.