Upcoming Condo Project At Margaret Drive In Queenstown

Located in the city fringe of Singapore, Queenstown checks many boxes for home buyers - high connectivity, variety of amenities, close to the city, and its rich history. Boasting such attributes, it is no surprise that the area remains a highly sought-after place to live for both locals and foreigners alike.

New homes in Queenstown tend to be snapped up fairly quickly. Fortunately for interested buyers, the sale of a plot in Margaret Drive means an upcoming private development could soon hit the market. The public land tender for the government land sale site closed on 1st August, with Intrepid Investments (subsidiary of Hong Leong Holdings), Hong Realty, and GuocoLand emerging as the top bidder with its $497 million bid. This works out to be $1,154 psf per plot ratio (psf ppr) for the site.

The rectangular-shaped site can yield approximately 460 residential units and is the first GLS site sold in Queenstown since Stirling Road in 2017. New private developments in the vicinity include Stirling Residences and Margaret Ville which hit the market in 2018.

Connectivity, F&B and Recreation

A major selling point of the Margaret Drive site is its connectivity, as the plot is a stone's throw from the Queenstown MRT station on the East-West Line. Just two stops from the Queenstown station, commuters could switch to the Circle Line at the Buona Vista interchange MRT station. Meanwhile, the Outram Park MRT interchange station - which connects to the Thomson-East-Cost Line and North-East Line - is three stops away. For residents working in the central business district, the commute to either the Raffles Place or Shenton Way MRT station will take about 20 minutes.

Residents at the future development will be spoilt for choice when it comes to recreational offerings in the surrounding areas. Singapore's premiere shopping belt is highly accessible from the site, with Orchard Road being six MRT stops away, or a less than 15-minute drive via car. For gourmands looking for good eats, located only two stations away is Tiong Bahru, which is home to the famous Tiong Bahru Market, and has no shortage of cafes.

The food and recreational scene in Queenstown are also nothing to scoff at, with the historic Queensway Shopping Centre hosting no-frills hawker fare and a slew of affordable sports apparel and trendy thrift shops. Meanwhile, the revamped Margaret Market which opened in the neighbourhood in August 2023 is a lifestyle marketplace, where foodies can support both local F&B entrepreneurship and building conservation.

Another popular feature of the area is the IKEA Alexandra branch, a great weekend spot to dine and shop for both families and new home owners alike. More F&B, and retail offerings can be found at The Star Vista mall, Holland Village lifestyle cluster, and the recently-opened One Holland Village mall.

Schooling Options

The Margaret Drive site is also close to several schools, with the Queenstown Primary School located adjacent to the upcoming project. Examples of other schools in the area are Crescent Girls' School, Queenstown Secondary School, Queensway Secondary School, and New Town Primary School. Many international schools like the Melbourne International School and Astor International School are also located within the area, an attractive feature for foreign buyers and expatriates. A number of prestigious educational institutions are also a short drive away, including Anglo-Chinese Junior College and the National University of Singapore.

For families with young children, there are a plethora of options for day-care and early childhood education. In addition to the childcare centre within the development, other options to consider are the Little Seeds Preschool, My First Skool, Sparkletots, and True Way Presbyterian Kindergarten.

About the developer

GuocoLand is an award-winning developer firm with a diversified portfolio comprising residential, hospitality, commercial, retail and integrated developments spanning across the region. GuocoLand has been awarded with a number of accolades both locally and internationally, in recognition for its quality, innovative developments and commitment to business excellence. In Singapore, the Group has successfully developed 36 residential projects yielding approximately 11,000 apartments and homes. Some of its most recent projects include Midtown Modern, Midtown Bay, Wallich Residences, Meyer Mansion, Martin Modern, Leedon Residences, and Goodwood Residences.

Intrepid Investments is a subsidiary firm of Hong Leong Holdings. Hong Leong Holdings was formed in 1968 as Hong Leong Group's privately held property investment and property holding vehicle. It has since established itself as a major player in the property market, making it one of the most sought-after providers of a comfortable home. To date, it manages eight commercial projects and has developed close to 100 residential properties, including a range of mid- to high-end residential projects such as Penrose, Midwood, The Avenir, Sage, The Tate Residences.