26 Moulmein Rise Redevelopment Site for Sale at $55M

Singapore’s real estate sector continues to present prime opportunities for investors and developers. A new addition to the market is a residential redevelopment site located at 26 Moulmein Rise, now listed for sale at S$55 million. Situated in the heart of the Novena area, this site holds potential for a luxurious residential project with strong rental and resale prospects.

Strategic Location at Novena

26 Moulmein Rise is located in Singapore’s District 11, a prestigious and centrally located area.
The site benefits from proximity to Novena MRT Station, Tan Tock Seng Hospital, Velocity Mall, and renowned schools.
It falls within the Health City Novena precinct – a major integrated healthcare and commercial hub that will enhance demand and land value over time.

This central positioning makes the plot highly desirable for future upscale development.

Redevelopment Potential

Though the site is currently occupied by an older residential building, the zoning and land area support redevelopment into a modern condominium or serviced apartments.

Reference Case:

In 2018, nearby 27 Moulmein Rise was acquired by Roxy-Pacific Holdings for $106 million, which has since been developed into the 17-storey Neu at Novena condominium.
This establishes precedence and shows developer interest and buyer demand in the immediate area.

Pricing and Land Value

The $55 million asking price is competitive based on current land value and historical transactions in Novena.
Assuming a gross floor area (GFA) of about 30,000–35,000 sq ft, the price translates to approximately S$1,570 to S$1,800 per square foot.
For freehold land in the Core Central Region (CCR), this rate presents a rare opportunity.

Key Investment Highlights

1. Freehold Status

Freehold plots are increasingly rare in Singapore, and this makes the site especially attractive for long-term developers or boutique condo builders.

2. CCR Advantage

Being in the Core Central Region ensures higher capital appreciation and consistent rental yield due to its strategic proximity to Orchard, Newton, and the CBD.

3. Buyer Demand in the Area

Projects like Neu at Novena and 35 Gilstead have shown strong buyer interest, indicating a stable and affluent demand base in the neighborhood.

Development Possibilities

A developer could build a 15–20 storey boutique condo with approximately 50 to 70 units, depending on URA planning parameters and plot ratio.

Such projects could target:

Foreign investors
Young professionals
Families wanting to live close to Novena’s conveniences

Nearby Amenities & Institutions

Shopping & Retail: Velocity @ Novena Square, Square 2, United Square
Healthcare: Tan Tock Seng Hospital, Mount Elizabeth Novena, Novena Medical Center
Education: Anglo-Chinese School (Primary and Barker Road), St. Joseph’s Institution Junior
Connectivity: 5-minute walk to Novena MRT Station, quick access to PIE and CTE

Tips for Buyers & Developers

Check URA’s Master Plan and zoning rules before initiating redevelopment.
Review the maximum GFA and possible plot ratio uplift via planning approval.
Monitor recent land bids and surrounding condo sales for feasibility analysis.
Consider combining plots for en bloc if adjacent land is available.

Conclusion

The $55 million redevelopment site at 26 Moulmein Rise presents a rare, strategically located freehold opportunity in Singapore’s prestigious District 11. With its proximity to health hubs, top schools, and public transport, the land is well-positioned for a luxury condo or niche residential project.

Given the rising demand for high-end housing in Novena and the limited supply of freehold land, this listing could turn into a high-return, landmark development for the right buyer.