CDL opens Lucerne Grand previews in Jurong with two-bedders from S$1.1M

City Developments Ltd will open previews for its 570-unit Lucerne Grand residential towers at Lakeside Drive on Friday, with two-bedroom units from S$1.1 million. Sales bookings for the mixed-use project linked to Lakeside MRT station begin Oct 3.

City Developments Ltd (CDL) will open previews on Friday for Lucerne Grand, a 570-unit residential project on Lakeside Drive, with two-bedroom units priced from S$1.1 million. Sales bookings begin Oct 3.

The five 17-storey towers form part of a mixed-use development directly linked to Lakeside MRT station. Its ground-floor commercial component will include a supermarket, shops and food and beverage outlets.

According to the firm's press release on Wednesday, a two-bedroom unit measuring 624 sq ft (58 sq m) is priced at S$2,401 psf (US$20,294 per sq m). Three-bedroom units start at nearly S$2 million for 883 sq ft, while four-bedroom units are priced from S$2.8 million for 1,152 sq ft.

The development is close to Jurong Lake District, Singapore's largest business district outside the city centre, as well as the Jurong Innovation District and Jurong Point Shopping Centre.

CDL secured the site for S$608 million, or S$1,132 psf per plot ratio, through a government land sale last June, according to The Business Times. The plot has a 99-year leasehold tenure.

CDL, chaired by Kwek Leng Beng, is one of Singapore's biggest property developers. The firm reported a 230.7 per cent year-on-year surge in net profit to S$301.6 million (US$237.5 million) for the first half of this year, with revenue climbing 61.1 per cent to S$2.72 billion.