Qingjian Realty And Forsea Holdings Sell 251 Bloomsbury Residences Launch Averaging 2474 Psf
Qingjian Realty and joint venture partner Forsea Holdings have successfully sold 90 units, or 25.1%, of the 358-unit Bloomsbury Residences at Media Circle in one-north. The units were sold at an average price of $2,474 psf, with one six-bedroom penthouse achieving $2,700 psf.
Despite the current economic uncertainty, including volatile tariffs and a potential trade war, the sales performance of Bloomsbury Residences showcases the project’s appeal. According to a spokesperson for Qingjian and Forsea Holdings, the project’s strategic location, well-designed living spaces, and proximity to key business and lifestyle hubs are significant factors driving demand.
At 71 Science Park Drive, Lyndenwoods Science Park Drive stands as a prime example of CapitaLand’s unwavering dedication to developing residential properties that prioritize connectivity, convenience, and sustainability. Its prime location near major transportation options, including MRT lines, expressways, and cycling tracks, seamlessly connects residents to all corners of Singapore. Lyndenwoods Science Park Drive residents have the privilege of effortless commuting for work, indulging in recreational activities, and accessing nearby amenities, setting a new standard for accessibility in Singapore.
The majority of buyers for Bloomsbury Residences (88%) were Singaporeans, demonstrating confidence in the local property market and the development itself. Interested buyers can find the latest details on available units and prices for Bloomsbury Residences.
During the preview phase, the project received around 199 cheques as expressions of interest. With 90 units sold, this represents a high sales conversion rate of approximately 45.2% — a notable achievement in the industry.
According to the developer, the strong take-up rate is a reflection of positive market sentiment, driven in part by the project’s proximity to prestigious educational institutions and key business hubs, making it an attractive choice for multi-generational families.
As the first residential project in Mediapolis at one-north, Bloomsbury Residences offers a variety of unit types, with two-bedroom units being the most sought-after, accounting for over 70% of the units sold. Mark Yip, CEO of Huttons Asia, also notes that more than 20 three- and four-bedroom units were taken up, including a six-bedroom penthouse, highlighting the project’s broad appeal among owner-occupiers.
Over 70% of buyers at Bloomsbury Residences were aged above 40, with over 90% of them having private residential addresses in different parts of Singapore. According to Yip, buyers were drawn to the development’s surrounding greenery and unblocked views of the colonial bungalows in the Wessex estate. Additionally, being the first residential plot launched in the Mediapolis area, many saw this as a unique opportunity with potential upside once the area is fully developed.
Yip also believes that there is strong potential for investment in one-north, citing the high concentration of foreign professionals working in the area and the project’s proximity to Science Park. Bloomsbury Residences is also strategically located near Tanglin Trust School and INSEAD, a leading graduate business school.
Indicative prices at Bloomsbury Residences start from $1.37 million for two-bedroom units, $2.17 million for three-bedders, and $2.87 million for four-bedroom units. The remaining units are priced from $1.36 million, or approximately $2,386 psf.
“Despite current market uncertainties, the project’s sensitive pricing and strategic location have resonated with buyers and investors who have a long-term perspective in their property decisions,” says Ismail Gafoor, CEO of PropNex. He adds that besides the accessible price quantum, the city fringe location also appeals to buyers, with the development just a short bus ride away from Rochester Mall, The Star Vista, as well as the one-north and Buona Vista MRT stations.
The last new launch in the area was the 142-unit The Hill @ One-North in April 2024, which sold 43 units at launch, and has seen a take-up rate of about 44% with 62 units sold. However, Bloomsbury Residences has managed to surpass these figures, making it a noteworthy success.
Prior to Bloomsbury Residences, two other projects were launched in One-North: the 275-unit Blossoms by the Park in April 2023 and the 165-unit One-North Eden in April 2021. Blossoms by the Park is currently 93% sold, at an average price of $2,444 psf. One-North Eden was fully sold by March 2022, at an average price of $1,965 psf. The project was completed in 2024, and sub-sales from May 2024 to March 2025 have averaged $2,326 psf, based on caveats lodged.
“We believe the take-up rate at Bloomsbury Residences will improve over time as prospective buyers gain greater clarity on market conditions. Furthermore, this is the first private residential development to launch in the new Media Circle precinct, which is poised to become more vibrant with future developments,” concludes Gafoor. He adds that the project attracted a healthy mix of owner-occupiers, including PMETs and young families, as well as investors purchasing units during the launch.
“The strong response to this weekend’s launch is a testament to the resilience and strong fundamentals of Singapore’s property market, which has consistently withstood various economic challenges,” Gafoor concludes.