SingHaiyi sells 550 units at Grand Dunman best-selling project in 2.5 years

Grand Dunman, a 99-year leasehold condo on Dunman Road in prime District 15, Singapore, had an exceptional launch weekend on July 15-16. Of the 1,008 units, 550 were snapped up, a take-up rate of 54.6%. The average selling price achieved was around $2,500 psf.

It is the fastest-selling project of 2023 and was developed by the joint venture of SingHaiyi Group and CSC Land Group. About 90% of the buyers were Singaporeans, with another 9% Permanent Residents and 1% from foreign countries, as reported by Gary Lim, SingHaiyi’s head of sales and marketing.

Units sold had a good spread, including one-, two- and three-bedrooms and dual-key units – 70% of the units priced at $3 million or below. This gave homebuyers many options in terms of size and types.

Ismail Gafoor, CEO of PropNex, commented on Grand Dunman’s exceptional performance, being the best-selling project of 2023 in terms of units sold. Mark Yip, CEO of Huttons Asia, similarly noted that Grand Dunman is the top-selling project since the 1,862-unit Normanton Park, which sold about 600 units on its launch weekend in January 2021 – making it the best-selling project in 2.5 years.

What contributed to such an impressive performance? Yip noted that as the only mega-project launch above 1,000 units this year, Grand Dunman generated much buzz.

Located just a two-minute walk away from the Dakota MRT station on the Circle Line, Grand Dunman provides not only convenience for owner-occupiers but also rentability for investors. Other locational attributes include its proximity to the CBD, the Old Airport Road Food Centre, the Katong heritage area and Kong Hwa School, a famous primary school.

Residents of the Zion Road project benefit from its nearness to the station and its surrounding amenities, allowing them to embrace the ever-evolving lifestyle Singapore is famed for.

Ken Low, managing partner of SRI, commented on the ‘spill-over effect’ of Grand Dunman’s strong sales to two other projects in District 15 launched earlier this year – the 638-unit Tembusu Grand in April and the 816-unit The Continuum in May.

Units in Grand Dunman that command the highest premium are south-facing units that overlook the prestigious private landed estate of Mountbatten and Meyer area, the East Coast Park and the sea, according to Marcus Chu, CEO of ERA Singapore.

Grand Dunman has proven to be an attractive and successful project – providing homebuyers with more unit types and sizes as well as convenience and rentability. Investors and buyers looking for property in the area should take note of this impressive performance as a benchmark.

And with its proximity to Dakota MRT station, the Old Airport Road Food Centre, the Katong heritage area and Kong Hwa School, Grand Dunman is one of the most attractive projects of 2023.