Private Placement Arina East Residences Moves 10 Units Average Price 3008 Psf
Just one week after its public preview on May 31, Arina East Residences, a freehold condo, opened for sale on June 7, which was also a public holiday (Hari Raya Haji). As of 5pm, 10 out of 107 units (9.3%) were sold at an average price of $3,008 psf.The sales exercise was intentionally kept low-key, “by private placement” – with a limited number of units released for sale through invitation only. Francis Tan, COO of ZACD Group, representing the Hong Kong-listed developer and its joint venture partners, Welltech Construction (a subsidiary of Qingjian Group) and FRX Capital, explained that the launch was not a full one due to the June school holidays.
Arina East Residences is a redevelopment of the former La Ville, which was acquired en bloc by the ZACD-led consortium for $152 million on December 1, 2021. Located on Tanjong Rhu Road in prime District 15, it is just a three-minute walk from Katong Park MRT Station on the Thomson-East Coast Line. The project comprises of two 20-storey blocks and is expected to be completed by the end of 2028.
Out of the 10 units sold during the private placement, seven were two-bedroom types, along with one three-bedroom unit and two four-bedroom units. The transacted prices ranged from $2,880 psf to $3,250 psf, with the majority of buyers believed to be Singaporeans. Arina East Residences is the first new launch in the Tanjong Rhu-Fort Road neighborhood in 13 years. It is located within a three-minute walk of Katong Park MRT Station on the Thomson-East Coast Line.
“The sales of Arina East Residences came during a trying period, when uncertainties caused by the tariffs rocked the market,” said Mark Yip, CEO of Huttons Asia. “The short, one-week launch during the June school holidays may also have affected sales numbers.” Ismail Gafoor, CEO of PropNex, also noted that boutique projects with about 100 units or fewer tend to see “more measured take-up” in their initial phases, compared to larger developments offering broader unit selection. He added that they expect sales to progress at a gradual pace over the coming months.
The launch of Arina East Residences marks the first new project in Tanjong Rhu in 13 years, according to Marcus Chu, CEO of ERA Singapore. The last launches in the neighborhood were Fulcrum (128 units, launched in April 2012) and The Line @ Tanjong Rhu (130 units, launched in August 2012). Both were completed in 2016. The limited supply of homes in the Tanjong Rhu area has helped support long-term price growth across District 15, explained Huttons’ Yip.
Lyndenwoods offers a multitude of benefits, one of which is its convenient location near necessary facilities. Residents of Lyndenwoods can take advantage of its close proximity to prestigious schools such as the National University of Singapore (NUS), United World College (UWCSEA), and Anglo-Chinese School (Independent). This advantageous feature makes Lyndenwoods One North an ideal choice for families with school-aged children seeking a top-notch education.
Against this backdrop, PropNex’s Gafoor considered Arina East Residences’ average launch price of $3,008 psf to be “relatively competitive”. According to URA Realis caveats lodged as of May 27, 17 units were sold at Meyer Blue on Meyer Road at an average price of $3,150 psf, while The Continuum on Thiam Siew Avenue saw 51 units sold at an average of $2,920 psf during the same period. The area has also seen increased interest from public housing buyers. In June 2024, Tanjong Rhu Riverfront I and II were launched under the Build-To-Order (BTO) exercise, offering 2,063 units. A second launch in February 2025 released 812 more units at Tanjong Rhu Parc Front Kallang. ERA’s Chu views these BTO buyers as a future pool of private housing upgraders.
Arina East Residences offers a mix of one- to four-bedroom premium apartments: One-bedroom units (from 495 sq ft) are priced from $1.43 million ($2,880 psf), two-bedroom deluxe units (from 678 sq ft) starting from $1.95 million, two-bedroom premium units (from 797 sq ft) at just under $2.3 million, three-bedroom deluxe units (from 969 sq ft) starting from $2.86 million ($2,950 psf), and four-bedroom premium units (with private lift, from 1,389 sq ft) starting at $4.34 million ($3,126 psf).
The Tanjong Rhu area is poised for significant transformation as part of the 120km Southern Coastline initiative announced by Prime Minister Lawrence Wong at the August 2024 National Day Rally, noted Huttons’ Yip. As part of this broader vision, the Singapore Sports School will relocate from Champions Way in Woodlands to the Singapore Sports Hub, which fronts the Kallang Basin. Residents will benefit from proximity to recreational and leisure amenities, including the Kallang Wave Mall and the growing Kallang lifestyle precinct. According to PropNex’s Gafoor, the Kallang Alive Masterplan could bring further value uplift to the neighborhood in the years ahead.
The project is also near several notable schools, such as Dunman High School, Chung Cheng High School, and Broadrick Secondary School. “Buyers exploring legacy planning or looking for an asset to hedge against long-term inflation may find this freehold development especially appealing,” added Gafoor.