The Arcady at Boon Keng
The Arcady at Boon Keng sold 51 of its 172 units (29.7%) at an average of about S$2,570 psf as at 4pm on launch day, Saturday 20 January 2024; the first freehold private launch of the year and the first freehold project in District 12 since Verticus in February 2020. Built on the former Euro-Asia Apartments site, which the KSH Holdings-led consortium bought en bloc for S$222.18 million (a land rate of roughly S$1,313 psf ppr), it is a single 24-storey freehold tower a short walk from Boon Keng MRT (NE9). The pitch is scarcity; freehold tenure in a city-fringe pocket dominated by older leasehold stock; at a price that sits in the premium band of the RCR.
The numbers, on one page.
- District
- D12 (Serangoon / Balestier / Toa Payoh), Rest of Central Region
- Address
- 2 Saint Barnabas Lane (off Serangoon Road), Boon Keng
- Developer
- KSH Holdings, SLB Development & H10 Holdings (JV); H10 is part of Ho Lee GroupSource: EdgeProp + Yahoo SG + developer About-Us, Jan 2024
- Tenure
- FreeholdSource: two-source corroborated (EdgeProp, Yahoo SG)
- Total units
- 172 (single 24-storey tower, 9 stacks)Source: EdgeProp + Yahoo SG; storeys/stacks per PLB review
- Architect
- Park + AssociatesSource: EdgeProp + PropertyLimBrothers
- Site
- Former Euro-Asia Apartments, ~56,476 sqft, plot ratio 2.8Source: EdgeProp en bloc reporting + cos.sg, 2022
- En bloc price
- S$222.18m (above S$218m reserve); land rate ~S$1,313 psf ppr incl. bonus balconySource: EdgeProp en bloc reporting + cos.sg, 2022
- Launch date
- Public booking from Saturday 20 Jan 2024Source: EdgeProp + Yahoo SG
- Launch-day sales
- 51 units (29.7%) as at 4pm 20 Jan 2024, avg ~S$2,570 psfSource: EdgeProp + Yahoo SG + propertyreview.sg, Jan 2024
- Est. TOP
- 31 Dec 2028Source: EdgeProp + PropertyLimBrothers
- Nearest MRT
- Boon Keng (NE9) — ~420 m straight-lineSource: OneMap (straight-line)
Load-bearing facts on this page are corroborated against at least two independent sources before publication. Last verified 9 Jul 2026.
60% sold to date
The first freehold private launch of 2024.
The Arcady's significance is mostly about tenure and timing. It opened the 2024 launch calendar as the year's first freehold private project and the first freehold development in District 12 since Verticus debuted in February 2020; a genuine four-year gap that both EdgeProp and Yahoo SG attribute to the same Huttons/ERA commentary. In a stretch of the city fringe where most newer stock is 99-year leasehold, freehold is the scarce attribute the developers and their agents leaned on hardest.
The land story underpins the pricing. The KSH Holdings-led consortium; KSH Ultra Unity, H10 Holdings and SLB Development, splitting the equity 49:36:15; bought the freehold Euro-Asia Apartments en bloc for S$222.18 million in 2022, above the S$218 million reserve, which works out to roughly S$1,313 psf ppr including the bonus-balcony gross floor area. That land rate sat below the S$1,360 psf ppr a CDL–Frasers–Sekisui House JV paid for the nearby 99-year leasehold Toa Payoh Lorong 1 site; a reminder freehold land here was not bid to extreme levels; and the ~S$2,570 psf average achieved at launch placed the project in the premium band of the RCR.
The launch-day result was solid rather than spectacular: 51 units, or 29.7% of 172, taken up as at 4pm on Saturday 20 January 2024, with all eleven 1-bedroom-plus-study units gone and the bulk of the two-bedders sold. Mark Yip of Huttons Asia noted the smaller-format units suited Singapore's smaller household sizes, while ERA's Marcus Chu tied buyer interest to the freehold tenure. Buyers were overwhelmingly local; an EdgeProp breakdown put Singaporeans at 89.9%, PRs at 9.0% and foreigners at just 1.1% (that split is carried by EdgeProp's condo page; Yahoo's launch report describes buyers only as 'predominantly Singaporeans and PRs').
What the day-one headline does not tell you is the absorption that followed. Roughly 73 of 172 units are still available (about 58% sold), as at June 2026 per our nightly availability tracker, implying the project moved from a fast start to a slower, steady grind, with the larger 2-bedroom-plus-study and 3-bedroom Premium formats carrying most of the remaining balance. It is the honest counterweight to the launch-day number.
Launched at ~S$2,570 psf — freehold, city-fringe.
At launch The Arcady transacted from just under S$2,400 psf to an average of about S$2,570 psf, with one-bedders from roughly S$1.29 million and three-bedders from around S$2.25 million. That average sits in the premium band of the RCR and reflects the freehold premium more than any locational advantage; the land was secured at about S$1,313 psf ppr (en bloc S$222.18m, plot ratio 2.8, bonus balcony included). Industry commentary at the time framed the project as comfortably above its breakeven; we have not been able to confirm a specific breakeven figure to a named source, so treat any precise breakeven number with caution.
The relevant freehold comparators are older and cheaper: nearby Jui Residences (freehold, 2021) traded around S$1,879 psf in 2023 (per PLB), and Regent Residences (freehold, 2016) at roughly S$1,907 psf in 2023 (per PLB). The Arcady therefore commands a clear premium for newness and a larger, better-facilitated site. As a land-cost benchmark, its S$1,313 psf ppr was actually below the S$1,360 psf ppr that a CDL–Frasers–Sekisui House JV paid for the 99-year leasehold Toa Payoh Lorong 1 site; a reminder that freehold land here was not bid to extreme levels.
| Project | District | Units | Tenure | Completion | PSF |
|---|---|---|---|---|---|
| The Arcady at Boon Kengsubject | D12 · Boon Keng | 172 | Freehold | 2028 | ~S$2,570 at launch (30% opening day) |
| Verticus (former Kemaman Point) | D12 | 162 | Freehold | 2024 (launched Feb 2020) | land S$143.88m ~S$1,173 psf ppr; the named 'previous freehold launch in D12' |
| Jui Residences | D12 (Kallang/Serangoon Rd) | 117 | Freehold | 2021 | ~S$1,879 psf in 2023 (per PLB); EdgeProp's trailing-12-month average ~S$1,982 psf (single-source, AMBER) |
| 1953 @ Tessensohn | D8 (Farrer Park / Tessensohn) | 58 residential (+14 retail) | Freehold | 2023 | freehold mixed-use comparator (Oxley) |
| Regent Residences | D12 (Serangoon Rd) | 180 | Freehold | 2016 | ~S$1,907 psf (2023, per PLB) |
Launch averages and take-up are developer/EdgeProp-reported. Comparables are city-fringe RCR launches; freehold tenure near Boon Keng MRT is the draw.
A single freehold tower, 1- to 4-bedders.
172 units in one 24-storey tower of nine stacks on the former Euro-Asia Apartments en-bloc site, spanning one-bedroom-plus-study up to four-bedroom layouts, topped by a 4-bedroom-plus-utility penthouse. The one-bedder-plus-study tier sold out on day one. Sizes follow the developer's launch mix.
| Type | Total units | Size (sqft) | Pricing |
|---|---|---|---|
| 1 Bedroom + Study | 11 | 527 | from ~S$1.29m at launch |
| 2 Bedroom | 38 | 667–678 | from ~S$1.73m |
| 2 Bedroom + Study | 38 | 764 | developer price list |
| 3 Bedroom | 21 | 969–980 | from ~S$2.25m |
| 3 Bedroom Premium | 31 | 1,087–1,195 | developer price list |
| 3 Bedroom Premium + Study | 21 | 1,281–1,496 | developer price list |
| 4 Bedroom + Study | 9 | 1,410 | developer price list |
| 4 Bedroom Premium | 1 | 1,625 | developer price list |
| Penthouse (4BR + Utility) | 2 | 2,433–2,583 | developer price list |
Sizes and starting prices from the developer's launch mix and EdgeProp reporting.
2 Saint Barnabas Lane — off Serangoon Road by Boon Keng.
The site sits at 2 Saint Barnabas Lane, just off Serangoon Road in the Boon Keng pocket of District 12; city-fringe RCR, roughly a 6-to-8-minute walk to Boon Keng MRT (NE9) depending on the source. From there it is two or three stops to the Downtown Line at Little India and the interchanges at Dhoby Ghaut, plus quick access to the PIE, CTE and KPE.
The immediate surroundings are workaday rather than glossy: hawker centres at Bendemeer, Whampoa and Geylang Bahru, neighbourhood clinics and provision shops, with bigger retail at City Square Mall, NEX and Plaza Singapura a few stops away. That is the trade-off; an authentic, well-connected mature estate rather than a manicured enclave.
City-fringe transit with a strong school cluster.
The Arcady sits a short walk from Boon Keng MRT on the North-East Line, with Bendemeer Primary, Hong Wen and St Andrew's Junior all inside the 1km tier, the Bendemeer and City Square retail nodes nearby, and the Kallang River and Bidadari greenery within reach. It is a freehold city-fringe buy on a compact single-tower site.
- Bendemeer Primary School~240 m · within 1 km tier
- St Andrew's Junior School~920 m
- Hong Wen School~710 m
School distances are OneMap straight-line measurements; walking routes will be longer.
- Boon Keng MRT (NE9)~420 m
- Bendemeer Market & Food Centre~0.4 km · hawker
- City Square Mall~1.4 km
- Bendemeer Shopping Mall~0.6 km
- Kallang River park connector~0.5 km
- Bidadari Park~2 km
A freehold city-fringe buy near the NEL.
The Arcady is a tenure-and-transit play on a small site. Here's the honest split.
Freehold rental near Boon Keng MRT.
Freehold tenure in a city-fringe pocket on the North-East Line, bought at a land rate (~S$1,313 psf ppr) below a comparable leasehold benchmark (Toa Payoh Lorong 1 at S$1,360 psf ppr), with compact 1- and 2-bedroom formats that sold first and rent well into the Little India/CBD corridor. The day-one 29.7% take-up and a 1.1% foreigner mix point to genuine local demand rather than speculative froth.
Families in a deep school catchment.
For a buyer who wants to hold long-term, the appeal is straightforward freehold ownership a short walk from an MRT station, in a mature estate with hawker food, schools and expressways close by; at an entry price (one-bedders from ~S$1.29m) that is accessible for a freehold city-fringe home.
Facilities-scale and quiet-suburb seekers.
We would steer away buyers chasing a quick flip or a trophy address. The launch average was ~S$2,570 psf against a land rate of ~S$1,313 psf ppr, and absorption after the strong open looks slow (roughly 73 of 172 units still available, about 58% sold, as at June 2026 per our nightly availability tracker), with the larger 2BR+Study and 3BR Premium stock carrying most of the unsold balance; so near-term upside looks thin.
What the brochure won't tell you.
The headline 29.7% (51 of 172 units) is a launch-DAY figure as at 4pm on Saturday 20 January 2024; strong, but roughly 73 of 172 units still available (about 58% sold), as at June 2026 per our nightly availability tracker, shows absorption slowed sharply afterward.
The freehold premium is real but it is most of the story: comparable freehold neighbours (Jui Residences ~S$1,879 psf, Regent Residences ~S$1,907 psf in 2023 per PLB) trade several hundred psf lower, so The Arcady's ~S$2,570 psf launch average is paying chiefly for newness and tenure.
Land was secured at ~S$1,313 psf ppr; below the S$1,360 psf ppr a CDL–Frasers–Sekisui JV paid for the nearby 99-year leasehold Toa Payoh Lorong 1 site; commentary framed the project as above breakeven, but we could not confirm a specific breakeven figure to a named source, so treat any precise breakeven number with caution.
The third JV partner is reported inconsistently as 'Ho Lee Group' or 'H10 Holdings'; they are the same camp; H10 Holdings is part of the Ho Lee Group, alongside KSH Holdings and SLB Development (equity 49:36:15, confirmed against the developer's own About-Us page).
Demand was reported as almost entirely local (an EdgeProp breakdown puts Singaporeans at 89.9%, PRs 9.0%, foreigners 1.1%; Yahoo's report says only 'predominantly Singaporeans and PRs'), so this is an owner-occupier and domestic-investor product, not a foreign-money play.
What's still available at Boon Keng.
The Arcady sold ~30% on opening day and has continued to move; roughly 73 of 172 units are still available (about 58% sold), as at June 2026 per our nightly availability tracker. We'll send the current balance-unit list, stack pricing and any active incentives.
What buyers keep asking.
- Who is the developer of The Arcady at Boon Keng? +
- The Arcady at Boon Keng was developed by a joint venture of KSH Holdings, SLB Development and H10 Holdings, with KSH leading via KSH Ultra Unity. H10 Holdings is part of the Ho Lee Group, which is why some reports name 'Ho Lee Group' as the third partner; it refers to the same camp. The equity split on the land was 49:36:15 (KSH Ultra Unity: H10: SLB), per the developer and EdgeProp's en bloc reporting.
- Is The Arcady at Boon Keng freehold or leasehold? +
- The Arcady at Boon Keng is freehold. It opened the year as the first freehold private residential project launched in 2024 and the first freehold development in District 12 since Verticus in February 2020.
- How many units did The Arcady at Boon Keng sell at launch? +
- The Arcady at Boon Keng sold 51 of its 172 units, or 29.7%, as at 4pm on its launch day, Saturday 20 January 2024, at an average price of about S$2,570 psf. All eleven 1-bedroom-plus-study units and the majority of the two-bedroom units were taken up.
- What was the average price psf at The Arcady at Boon Keng? +
- The Arcady at Boon Keng achieved an average of about S$2,570 psf at launch, with transactions starting from just below S$2,400 psf. One-bedroom-plus-study units started around S$1.29 million and three-bedroom units from roughly S$2.25 million.
- How many units and storeys does The Arcady at Boon Keng have? +
- The Arcady at Boon Keng is a single 24-storey tower with 172 freehold units across nine stacks, ranging from 1-bedroom-plus-study (527 sqft) up to 4-bedroom Premium and two penthouses of about 2,433–2,583 sqft. The architect is Park + Associates.
- When is The Arcady at Boon Keng expected to TOP? +
- The Arcady at Boon Keng has an estimated Temporary Occupation Permit (TOP) date of 31 December 2028, per the developer's fact sheet and listing portals.
- Which MRT station is nearest to The Arcady at Boon Keng? +
- The nearest MRT to The Arcady at Boon Keng is Boon Keng (NE9) on the North-East Line, reported as a 6-to-8-minute walk depending on the source. From there it is two to three stops to the Downtown Line at Little India and the interchanges around Dhoby Ghaut.
- What was on the site before The Arcady at Boon Keng? +
- The Arcady at Boon Keng was built on the former Euro-Asia Apartments, a freehold development the KSH-led consortium bought en bloc for S$222.18 million in 2022; above the S$218 million reserve; equating to a land rate of about S$1,313 psf ppr including the bonus-balcony gross floor area.
- Is The Arcady at Boon Keng sold out? +
- No. Roughly 73 of the 172 units are still available (about 58% sold), as at June 2026 per our nightly availability tracker, with the 1-bedroom-plus-study units fully sold and the larger 2-bedroom-plus-study and 3-bedroom Premium formats holding most of the balance.
- How does The Arcady at Boon Keng compare with nearby freehold condos? +
- The Arcady at Boon Keng launched at a premium to its older freehold neighbours: Jui Residences (freehold, 2021) traded around S$1,879 psf in 2023 and Regent Residences (freehold, 2016) at roughly S$1,907 psf in 2023 (both per PLB), versus The Arcady's ~S$2,570 psf launch average. The premium reflects its newer build, larger site and freehold tenure.
- Who bought at The Arcady at Boon Keng? +
- Buyers at The Arcady at Boon Keng were reported as overwhelmingly local. An EdgeProp launch breakdown put Singaporeans at 89.9%, Permanent Residents at 9.0% and foreigners at just 1.1%; Yahoo's launch report describes buyers more generally as predominantly Singaporeans and PRs. Agents reported the one- and two-bedroom units appealing to both owner-occupiers and investors.
- Is The Arcady at Boon Keng a good investment? +
- The Arcady at Boon Keng offers scarce freehold tenure near an MRT station, but the investment case is moderate: land was bought at about S$1,313 psf ppr and the launch average was ~S$2,570 psf, so near-term capital upside looks limited. The strongest case is long-term owner-occupation or rental of the smaller units; the slower post-launch absorption is the main caution.
- Was The Arcady at Boon Keng the first freehold launch of 2024? +
- Yes. The Arcady at Boon Keng was the first freehold private residential project launched in 2024 and the first freehold development in District 12 since Verticus in February 2020; a point made in EdgeProp's and Yahoo SG's launch reporting. Its co-launch that weekend, Hillhaven at Hillview Rise, was a 99-year leasehold project.
Why the launch opened well.
51 of 172 units on opening day at ~S$2,570 psf, with the 1-bed-plus-study sold out. Here's the read.
About 58% sold to date as of June 2026 (99 of 172 units, roughly 73 still available) — from ~30% (51 units) on opening day, Jan 2024.
Get the balance unit list →- 01Freehold scarcity opened the yearThe Arcady was the first freehold private launch of 2024 and the first freehold project in D12 since Verticus in February 2020; a genuine four-year gap that gave the tenure pitch real weight in a leasehold-heavy pocket.
- 02Compact units led demandAll eleven 1-bedroom-plus-study units and most two-bedders sold on day one; these formats appealed to both owner-occupiers and investors, with Huttons' Mark Yip noting they suit Singapore's smaller household sizes.
- 03Land cost left room to priceSecured at ~S$1,313 psf ppr; below the S$1,360 psf ppr a CDL–Frasers–Sekisui JV paid for the nearby 99-year leasehold Toa Payoh Lorong 1 site; the en bloc basis let the developers price a freehold product competitively for the RCR.
- 04Local demand, not foreign moneyAn EdgeProp breakdown put Singaporeans at 89.9% and foreigners at 1.1%, pointing to durable domestic demand for freehold city-fringe homes; which also means watching the local rate/cooling-measure cycle, not foreign flows.
- 05Watch the post-launch grindThe honest signal to monitor: a strong 29.7% open did not translate into a quick sell-out; roughly 73 of 172 units are still available (about 58% sold), as at June 2026 per our nightly availability tracker, concentrated in the larger 2BR+Study and 3BR Premium stock.
This page is maintained continuously and updated as new pricing, transaction and availability data come through. If there's a question we haven't covered, email hello@whichcondo.sg.