Norwood Grand, the first private condo in Woodlands in 12 years, achieved impressive sales on its launch day. Over 81% of its 348 units sold, making it one of the top-performing projects in 2024. Located on Champions Way, it offers one- to four-bedroom units, with prices starting from S$988,000, or about S$1,996 psf.
City Developments Limited (CDL) developed Norwood Grand, defying the current slowdown in private property sales. Its success stems from being the first private condo in Woodlands since 2012, an area with over 72,000 HDB flats. One- to three-bedroom units sold out quickly, leaving only 56 four-bedroom units available.
CDL acquired the site in a 2023 Government Land Sale (GLS) tender for approximately S$294.9 million, outbidding five competitors. This 99-year leasehold project offers a rare chance to buy private homes in Woodlands, which has limited new condo supply.
Norwood Grand’s success may shift focus to nearby opportunities, like the reserve list site at Woodlands Central. This site could become a mixed-use development with 440 residential units and substantial commercial space.
With the Federal Reserve cutting interest rates, analysts expect lower borrowing costs to boost property prices as demand rises.
