TMW Maxwell
TMW Maxwell is a 324-unit, 99-year leasehold mixed-use development at 31 Tras Street on the Chinatown-Tanjong Pagar fringe (District 2), built by a Chip Eng Seng Corp (40%) / SingHaiyi Group (30%) / Chuan Investments (30%) joint venture on the former Maxwell House site. It is best known for one of 2023's slowest launches: over 1,000 people visited the gallery during the late-July preview weekend, but when sales bookings opened in mid-August only 7 of the 80 units released sold. The mix explains why - 62% of homes are sub-500 sq ft "flip/switch" convertible studios aimed at investors and singles, not families.
The numbers, on one page.
- Developer (consortium)
- Chip Eng Seng Corp (40%), SingHaiyi Group (30%), Chuan Investments (30%) - a 40:30:30 joint venture. Chip Eng Seng's property arm is CEL Development; Chuan Investments is the vehicle of Hong Kong's Chuan Holdings.Source: EdgeProp via Yahoo Finance; Mingtiandi; Yahoo SG News; The Edge Singapore
- Site / tender
- Former Maxwell House (20 Maxwell Road), bought en bloc for S$276.8m (above the S$268m reserve set at the April 2021 relaunch); joint tender submitted 6 May 2021, awarded 7 May 2021Source: Yahoo SG News (maxwell-house-sold-enbloc-276); Mingtiandi; CommercialGuru
- Address
- 31 Tras Street, Singapore 079934
- District
- D2 (Chinatown / Tanjong Pagar / Outram fringe). The new Tras Street address sits in D2; the former Maxwell House address (20 Maxwell Road) was District 1
- Tenure
- 99-year leasehold from April 2023Source: Stacked Homes; 99.co
- Total units
- 324 residential (floors 4-20) + 11 commercial units (basement to level 3). Single 20-storey block; site area ~41,800 sq ftSource: EdgeProp via Yahoo Finance; EdgeProp opening-weekend report; Stacked Homes
- Architect
- Formwerkz Architects (lead architect Alan Tay)Source: Stacked Homes; EdgeProp
- Estimated TOP
- Est. TOP 30 Jun 2028 (developer-marketed/listing figure); legal completion 30 Jun 2031 on listing sites. An earlier Aug-2023 EdgeProp report said it was 'targeted for completion by early 2027'Source: 99.co / newlaunches.sg (2028 TOP, 2031 legal); EdgeProp via Yahoo Finance ('early 2027')
- Preview / launch
- Preview weekend from 29 Jul 2023; sales bookings opened 12 Aug 2023Source: EdgeProp opening-weekend report; PropertyGuru news
- Launch weekend take-up
- 7 units sold of 80 released in phase one (~9% of the phase; ~2% of all 324) at an average S$3,310 psf, when sales opened in August 2023 - against market-watchers' expectation of at least ~20% take-up. The earlier preview weekend (late July) had drawn over 1,000 visitorsSource: EdgeProp slow-sales report (house.world mirror); PropertyForSale; EdgeProp opening-weekend report
- Launch pricing
- From S$3,188 psf; ~85% of units priced S$1.5m-S$2m; the seven sold units transacted S$1.5m-S$2.47m (S$3,143-S$3,739 psf)Source: EdgeProp via Yahoo Finance; PropertyForSale (URA-caveat records)
Load-bearing facts on this page are corroborated against at least two independent sources before publication. Last verified 9 Jul 2026.
2% sold to date
The CBD launch that the market didn't rush.
TMW Maxwell is a case study in how a strong address does not guarantee sales velocity. The site sits on the Chinatown-Tanjong Pagar fringe of District 2, within walking reach of Maxwell (TE18) and Tanjong Pagar (EW15) MRT, and its preview weekend in late July 2023 drew over 1,000 visitors to the sales gallery. Yet when sales bookings opened that August, it sold just 7 of the 80 units released in phase one - about 2% of the 324-unit project - against market-watchers' expectation of at least a 20% take-up. The mix is the reason it matters: 62% of homes are sub-500 sq ft "flip/switch" convertible studios, a format built for a narrow pool of investors and singles rather than family owner-occupiers. URA caveat records still show no transactions after that August 2023 cluster, so for a buyer in 2026 the live questions are not whether the location is good - it is - but whether the unit format, the high launch psf, and the persistent developer inventory leave room for capital growth before the estimated 2028 TOP.
Launched ~S$3,310 psf — and sold slowly.
At launch in August 2023, TMW Maxwell was priced from S$3,188 psf, with about 85% of units carrying a S$1.5m-S$2m quantum (EdgeProp via Yahoo Finance). The seven units sold on launch weekend transacted between S$1.5m and S$2.47m, or S$3,143-S$3,739 psf, averaging S$3,310 psf (PropertyForSale URA-caveat records; EdgeProp). Those were freehold-territory psf figures on a 99-year, shoebox-heavy project. There is no meaningful post-launch price trend to anchor on: URA caveat records show essentially no further transactions after the August 2023 cluster, so no resale or subsale curve has formed. For precinct context, CDL's freehold Newport Residences (former Fuji Xerox Towers, Anson Road) sold 140 of 246 units (57%) on its launch weekend of 31 Jan-1 Feb 2026 from S$3,012 psf at an average S$3,370 psf (The Edge; EdgeProp; CDL), and the 99-year One Bernam reached ~99% sold after a January 2025 weekend promotion, with over 75% of units transacting at an average S$2,585 psf (EdgeProp; Yahoo SG). As of June 2026, the live availability chart shows about 319 of TMW Maxwell's 324 residential units still available - roughly 2% sold - corroborating the URA-caveat picture of a project that has barely moved since launch; no whitelist outlet has published a separate cumulative figure or a formal repricing. Agent and marketing sites circulate "balance unit charts" and entry quantum below launch levels, but those are agent-quoted, not whitelist-verified - treat any "current price" as unverified until checked against the developer's live, dated price list.
| Project | District | Units | Tenure | Completion | PSF |
|---|---|---|---|---|---|
| TMW Maxwellsubject | D2 · Tanjong Pagar | 324 + 11 comm. | 99-yr | TOP ~2028 | ~S$3,310 avg at launch (~2% launch wknd) |
| Newport Residences | D2 | 246 | Freehold | Est. 2030 | From S$3,012 psf; ~S$3,370 psf avg over launch weekend (CDL, 31 Jan-1 Feb 2026); 140 of 246 units (57%) sold launch weekend |
| One Bernam | D2 | 351 | 99-year leasehold | Completed ~2026 | ~99% sold after the 11-12 Jan 2025 weekend promotion (only 3 penthouses left); over 75% of units at avg ~S$2,585 psf (MCC Land + Hao Yuan Investment) |
| Sky Everton | D2 | 262 | Freehold | Completed 2023 | Recent resale in the ~S$2,800s psf range (Sustained Land-led consortium; 99.co/EdgeProp) |
Launch figures are developer/EdgeProp-reported. Comparables are recent D1/D2 city-core launches; TMW Maxwell's compact, convertible-studio format and slow take-up are the story.
Convertible studios, by design.
TMW Maxwell is a 324-home tower (floors 4-20) over an 11-unit commercial podium, dominated by the convertible 'Flip/Switch' studio — about 201 units, ~62% of the mix — alongside one-bedroom, one-plus-study, lofts and a small share of two-bedders and dual-keys. The flexible compact format kept absolute prices low but narrowed the owner-occupier pool.
| Type | Total units | Size (sqft) | Pricing |
|---|---|---|---|
| Studio 'Flip/Switch' convertible (Type A) | 201 (62%) | ~474 | From S$1.5m at launch; sold band to S$3,739 psf |
| 1-bedroom & 1-bed + study | 68 (~21%) | ~510-567 | Indicative S$1.5m-S$2m band at launch |
| 1-bedroom loft | 5 | 843-870 | Not separately disclosed |
| 2-bedroom premium & 2-bed dual-key | 50 (~15%) | ~786-850 | Up to S$2.47m at launch |
Mix from the developer's launch configuration and EdgeProp reporting; 324 residential units plus 11 commercial units (8 F&B, 3 retail).
31 Tras Street — in the Tanjong Pagar core.
TMW Maxwell sits at 31 Tras Street (postal 079934) on the Chinatown-Tanjong Pagar fringe of District 2, on the redeveloped former Maxwell House site. The address is genuinely well-connected: Maxwell station (TE18) on the Thomson-East Coast Line and Tanjong Pagar (EW15) on the East-West Line are both in the immediate area, with Telok Ayer (DT18) on the Downtown Line and the Outram Park interchange (EW16 / NE3 / TE17) within the surrounding street grid. Everyday dining and retail sit close by - Maxwell Food Centre and the Tanjong Pagar / Tras Street F&B belt - with larger malls including Chinatown Point, China Square Central and Tanjong Pagar Plaza nearby. The project's own podium adds 11 commercial units. For families weighing schools, Cantonment Primary and Outram Secondary sit in the broader Outram area, and Singapore Management University is in the city core.
Three MRT lines, Maxwell hawkers, CBD on foot.
TMW Maxwell sits in the Tanjong Pagar / Maxwell core, steps from Maxwell (TEL) and a short walk to Tanjong Pagar (EWL), Telok Ayer (DTL) and Outram Park, with Maxwell Food Centre at the door, the Chinatown / Tanjong Pagar / Ann Siang dining and retail belt around it, and Telok Ayer, Ann Siang Hill and Duxton Plain parks close by. Cantonment Primary and SMU anchor the (thin) schooling case. It is a CBD walk-to-work product, not a family-township one.
- Cantonment Primary School~660 m · within 1 km tier
- Outram Secondary School~1.2 km
- Singapore Management University~1.9 km
- Maxwell MRT (TE18)~190 m (straight-line; ~3-min walk)
- Tanjong Pagar MRT (EW15)~290 m
- Telok Ayer MRT (DT18)~520 m
- Outram Park MRT (EW16 / NE3 / TE17)~490 m
- Chinatown Point~470 m
- Tanjong Pagar Plaza~280 m
- Icon Village~440 m
- Maxwell Food Centre~140 m
- Telok Ayer Park~250 m
- Ann Siang Hill Park~260 m
- Duxton Plain Park~440 m
A CBD entry product with a slow-sale caveat.
TMW Maxwell is a location-and-quantum buy with a genuine absorption problem. Here's the honest split.
Low-quantum CBD rental entry.
The pitch is a CBD-fringe address on a 99-year lease at a relatively low absolute quantum (most units S$1.5m-S$2m at launch), with two MRT lines at the doorstep and a rental pool of city-core professionals. The 'flip/switch' studios are designed to maximise usable space in a small footprint, which can support yield. But the entry psf (S$3,100-S$3,700+ at launch) is high for a shoebox-heavy 99-year project, and the slow sales mean an investor is buying into a building that may still be clearing developer stock - limiting near-term capital upside until that overhang is absorbed.
City singles and pied-a-terre buyers.
Workable for a single professional or couple who want to live in the CBD and value the walk to Maxwell / Tanjong Pagar MRT and the Tras Street dining scene. The dual-key and 2-bedroom layouts (around 786-850 sq ft) suit a small household or a live-plus-rent setup. It is a poor fit for families needing genuine multi-bedroom space, since 62% of the project is sub-500 sq ft and the larger formats are scarce.
Families, space-seekers and quick-exit investors.
Avoid if you need bedroom count, expect quick resale liquidity, or are price-sensitive on psf. The combination of a high launch psf, a shoebox-dominated mix, persistent unsold inventory and an estimated 2028 TOP means both exit timing and price discovery carry real risk. Treat any 'current promotion' as unverified until you see the developer's live, dated price list.
What the brochure won't tell you.
The launch was genuinely slow, not spun: when sales bookings opened in August 2023, 7 of 80 released units sold - about 2% of the 324-unit project - against market-watchers' expectation of at least ~20% take-up. We state both denominators (phase-one release vs whole project), and we separate the late-July preview footfall from the August launch take-up.
62% of the project is sub-500 sq ft 'flip/switch' convertible studios. That is a deliberate, narrow product for investors and singles, not a family building. Judge it on that basis.
Pricing was high for the format: from S$3,188 psf, with sold units running S$3,143-S$3,739 psf and an average of S$3,310 psf at launch. That is freehold-territory psf on a 99-year shoebox.
There is no post-launch price trend to read: URA caveat records show essentially no transactions after the August 2023 cluster, so no resale or subsale curve exists.
As of June 2026 there is no whitelist-corroborated cumulative sell-through and no whitelist-documented official relaunch or list-price cut - the developer has not released a recent figure. Agent 'balance unit charts' and below-launch entry quantum suggest de-facto softening, but that is agent-quoted; ask for the developer's dated price list before trusting any 'current % sold' or discount.
The address is real value: two MRT lines, mature F&B, CBD core - and the design won four EdgeProp Singapore Excellence Awards in 2024 (Landscape, Design, Marketing, Showflat). Location and design are the strongest parts of the story; the unit format and pricing are the weakest.
Useful precinct precedent: 99-year One Bernam reached ~99% sold by early 2025 - but only after a weekend promotion. A similar discount-led clearance is plausible here, which can reward patient buyers and penalise early ones.
What's actually available, and at what price.
TMW Maxwell has barely moved since its 2023 launch — the live chart still shows the large majority of its 324 residential units available, and agent lists circulating below 2023 launch levels are unverified against a dated developer price list. We'll get you the current confirmed availability and pricing — tell us the layout and budget you're working with.
What buyers keep asking.
- Who is the developer of TMW Maxwell? +
- TMW Maxwell is developed by a 40:30:30 joint venture of Chip Eng Seng Corp (40%), SingHaiyi Group (30%) and Chuan Investments (30%). The same consortium bought the former Maxwell House en bloc for S$276.8 million, with the joint tender awarded on 7 May 2021. Chip Eng Seng's development arm is CEL Development; Chuan Investments is the vehicle of Hong Kong's Chuan Holdings.
- How many units at TMW Maxwell have sold? +
- TMW Maxwell sold 7 units on its August 2023 launch weekend - roughly 9% of the 80 units released in phase one and about 2% of the 324-unit project. As of June 2026 it has barely moved: the live availability chart shows about 319 of 324 residential units still available (~2% sold), and URA caveats record no transactions after the August 2023 cluster. Treat agent 'fast-selling' or discount claims as unverified against a dated developer price list.
- Why did TMW Maxwell sell so slowly at launch? +
- TMW Maxwell's slow August 2023 launch reflected a high launch psf (from S$3,188), a mix that is 62% sub-500 sq ft convertible studios aimed at a narrow investor pool, and a crowded launch market. Although the late-July preview drew over 1,000 visitors, only 7 of 80 released units sold when bookings opened - about 2% of the project - versus market-watchers' expectation of at least a 20% take-up.
- When will TMW Maxwell be completed (TOP)? +
- TMW Maxwell's estimated TOP is 30 June 2028, the current developer-marketed and listing figure, with legal completion listed as 30 June 2031. An earlier EdgeProp report in August 2023 said it was targeted for completion by early 2027. Where these disagree, treat the developer-marketed 2028 as the working completion date, distinct from the 2031 legal completion.
- Is TMW Maxwell freehold? +
- No. TMW Maxwell is a 99-year leasehold development, with the lease running from April 2023. Some marketing pages mislabel it 'freehold,' but that is incorrect. It sits in District 2 at 31 Tras Street (postal 079934) on the former Maxwell House site, on the Chinatown-Tanjong Pagar fringe of the CBD.
- Has TMW Maxwell been repriced or relaunched? +
- As of June 2026, no whitelist outlet documents an official TMW Maxwell relaunch or list-price cut, and the developer has not published a revised price list. Agent 'balance unit charts' quote entry quantum below the August 2023 launch level, consistent with de-facto softening, but those figures are agent-quoted.
- What are the 'flip/switch' units at TMW Maxwell? +
- TMW Maxwell's 'flip/switch' units are convertible studios - 201 of the 324 homes (62%), about 474 sq ft - that use integrated, movable furniture (a Murphy bed, walk-in wardrobe and flip-down table) to reconfigure between living, sleeping and work modes. The project also includes five 1-bed lofts (843-870 sq ft) and 2-bedroom dual-key layouts of roughly 829-850 sq ft.
Why the launch stalled.
Just 7 of 80 released units (~2% of 324) over the August 2023 launch weekend at ~S$3,310 psf — a rare CBD misfire. Here's why.
Still barely sold as of June 2026 — the live chart shows about 319 of 324 residential units available (~2% sold), and URA caveats record no transactions since the August 2023 launch; the snapshot above carries the current count.
Get current pricing →- 01Location that genuinely earns its prestigeThe site sits on the Chinatown-Tanjong Pagar fringe with Maxwell (TE18) and Tanjong Pagar (EW15) MRT close by, plus Telok Ayer (DT18) and the Outram Park interchange in the surrounding grid. As a place to live or rent in the CBD, the address is the strongest part of the proposition - and the reason over 1,000 people visited the gallery during the preview weekend.
- 02Low absolute quantum for a CBD entryWith about 85% of units priced between S$1.5m and S$2m at launch, TMW Maxwell offered a relatively low cash outlay to own a city-core address - the lever that has historically helped shoebox-heavy CBD projects find investor buyers over time.
- 03Award-winning, differentiated designThe Formwerkz-designed scheme, with vertical landscaped gardens and 'flip/switch' convertible studios, won four EdgeProp Singapore Excellence Awards in 2024 (Landscape, Design, Marketing, Showflat). Eleven commercial units anchor the base. For the singles-and-investors buyer it targets, the format is a feature, even if it narrowed the overall audience.
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.