One Bernam, the prestigious mixed-use development in Tanjong Pagar, has made significant strides in its sales efforts over the weekend of January 11-12, 2025, with an aggressive promotional campaign targeting its remaining inventory. This latest push has brought the project to the brink of a sellout, with only a handful of units left available.
Weekend Promotion Details
The promotion encompassed 87 units across various unit types, from one-bedroom apartments to luxurious penthouses. The discounts offered were substantial, ranging from $323,000 to an impressive $830,000, depending on the unit size and type.
One-Bedroom Units
- Size range: 441 to 463 sq ft
- Discount range: $323,000 to $438,000
- Selling price range: $1.295 million to $1.328 million
- Price per square foot: $2,869 to $2,934
Two-Bedroom Units
- Size range: 700 to 732 sq ft
- Discount range: $437,000 to $668,000
- Selling price range: $1.752 million to $1.78 million
- Price per square foot: $2,394 to $2,544
Two-Bedroom Plus Study Units
- Size range: 807 to 872 sq ft
- Discount range: $380,000 to $800,000
- Selling price range: $2.139 million to $2.158 million
- Price per square foot: $2,475 to $2,581
Three-Bedroom Units
- Size: 1,421 sq ft
- Discount range: $616,000 to $830,000
- Selling price range: $3.496 million to $3.526 million
- Price per square foot: $2,461 to $2,482
Project Overview and Performance
One Bernam, a 99-year leasehold development, is the result of a collaboration between MCC Land and Hao Yuan Investment. The project, which comprises 351 residential units, was initially launched in May 2021.
Prior to this weekend’s promotion, the development had already achieved a commendable sales rate, with over 75% of units sold at an average price of $2,585 per square foot, based on caveats lodged as of January 10, 2025.
Market Implications
This promotional campaign by One Bernam reflects the developers’ strategy to clear remaining inventory in a competitive real estate market. The substantial discounts offered, particularly on larger units, indicate a willingness to adjust pricing to meet market demand. For savvy investors and homebuyers, this presents an opportunity to acquire property in a prime location at more attractive price points.
A great success launch that is similar to the one in Newton called 32 Gilstead, which offers excellent large format luxury condo units too.
The success of this promotion, bringing One Bernam close to a sellout, may influence pricing strategies for other developments in the area. It also underscores the continued appeal of well-located properties in Singapore’s central districts, even in a market that has seen various cooling measures.
As One Bernam approaches full occupancy, with only three penthouses remaining after this promotion, it marks a significant milestone for the development and potentially signals strong investor confidence in the Tanjong Pagar area’s long-term prospects.
