CDL sells 61% of units at Lucerne Grand over launch weekend

City Developments Ltd sold 350 of 570 units at its Lucerne Grand condo in Lakeside over the launch weekend, achieving an average price of S$2,480 psf. Singaporeans made up 93 per cent of buyers, with two-bedroom and four-bedroom units the top sellers.

City Developments Ltd (CDL) sold 350 of the 570 units at its Lucerne Grand condominium over the launch weekend, the developer said in a press release on 5 Oct 2026. The average price was S$2,480 per square foot. Singaporeans accounted for about 93 per cent of buyers, while permanent residents from Malaysia, China, India, Bangladesh, Myanmar and South Korea made up the remainder.

Standard two-bedroom units and premium four-bedders were the top-selling layouts, with take-up rates of 87.5 per cent and 87.2 per cent, respectively, according to EdgeProp Singapore. Lucerne Grand comprises five 17-storey residential towers on Lakeside Drive and is part of a mixed-use development directly linked to Lakeside MRT station, which will also include a ground-floor commercial component.

The project is close to Jurong Lake District, which is poised to become Singapore's largest business district outside the city centre. Previews for the project drew around 4,000 visitors when they began roughly a fortnight earlier.

Nicholas Mak, chief research officer at Mogul.sg, told The Business Times that Lucerne Grand's sales performance was broadly in line with five mixed-use projects launched this year, whose take-up rates ranged from 56.9 per cent at Newport Residences to 98.8 per cent at Tengah Garden Residences.

Sherman Kwek, CDL's group chief executive officer, said: 'We are encouraged by the healthy response at Lucerne Grand, which reflects homebuyers' appreciation for its distinctive combination of connectivity, convenience and nature.' CDL, one of Singapore's largest property developers, late last month unveiled a three-year roadmap that will see it deploying S$5 billion into four sectors including residential across several markets, with 60 per cent of the capital earmarked for Singapore. The group posted a net profit of S$301.6 million on revenues of S$2.72 billion in the first half of the year. It is chaired by Kwek Leng Beng, who ranked second on Forbes' list of the richest people in Singapore in September with an estimated net worth of US$16.1 billion shared with his family.