Currently fully leased to a single operator, the freehold, 12-unit serviced apartment in District 9 has a total gross floor area of about 23,233 sq ft. Photo: CBRE
Devonshire Apartment, an eight-storey serviced apartment tower at 17 Devonshire Road in District 9, has been launched for sale via expression of interest (EOI) with a guide price of $66 million, revealed exclusive marketing agent CBRE.
This works out to $2,356 per sq ft per plot ratio (psf ppr) based on the maximum allowable gross floor area of 31,688 sq ft, excluding the 7% bonus gross floor area for balconies.
Currently fully leased to a single operator, the 12-unit serviced apartment has a total gross floor area of about 23,233 sq ft. It occupies an 11,317 sq ft freehold site that is zoned for “Residential” use under the 2019 Master Plan with a plot ratio of 2.8 and a height limit of up to 36 storeys.
CBRE noted that the development charge payable to maximise the plot ratio is estimated to be $8.65 million, subject to the confirmation of authorities on the development baseline as well as the review of DC rates every March and September.
Located near Somerset MRT station, the serviced apartment is also close to Orchard Road and Robertson Quay, with nearby landmarks including Orchard Gateway, 313 Somerset, Hotel Jen and Fort Canning Park.
CBRE’s Head of Capital Markets for Singapore Michael Tay said the successful buyer can continue enjoying a stable income stream since the property is fully leased to a single serviced apartment operator.
The buyer can also opt to redevelop the site “to leverage on the under-utilised gross plot ratio”.
“We rarely come across well-located serviced apartments within proximity to the prime Orchard Road shopping belt made available for sale, yet still at a palatable investment quantum of under $100 million made available for sale. Therefore, we expect this site to garner strong interest from both local and foreign investors and hospitality end-users, as well as developers who are starting to look out to replenish their land banks or targeting the luxurious residential market,” said Tay.
The EOI exercise for Devonshire Apartment closes on 6 April.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
Best Luxury Developer: Allgreen Properties Limited
Luxury in Singapore’s property landscape has spent years in an arms race: bigger amenity decks, flashier branding, more elaborate façades. Yet as the market matures, the definition of luxury has begun to shift. Buyers in the high-end segment now look for longevity rather than novelty, clarity over spectacle, and spaces that feel calm in a dense city.
Allgreen Properties Limited has been building this form of luxury long before it became a trend. Its Best Luxury Developer win at the PropertyGuru Asia Property Awards (Singapore) 2025 reflects a philosophy grounded in restraint, discipline and long-term value.
Founded in 1986, Allgreen has spent close to four decades developing homes in some of Singapore’s most prized districts. Its portfolio is marked less by extravagance than by refinement: clean lines, generous planting, strong site selection and layouts that prioritise comfort and privacy. These qualities, understated yet enduring, have shaped its reputation among buyers who value clarity in design and stability in investment.
In many of its developments, luxury is felt in quiet details: the arrival sequence softened by greenery, the view corridor opened by a well-positioned block, the sense of calm created by proportion and an understated palette.
This approach has defined Allgreen’s recent projects. Fourth Avenue Residences, completed in 2022 along the Rail Corridor, balances architectural restraint with prime district access. The development’s linear forms and landscaped buffers create a sense of order and airiness, while its proximity to top schools and Bukit Timah’s green spine reinforces the idea that luxury rests as much on context as on construction.
Royalgreen, delivered in 2021, offers a different, more intimate version of the same ethos. Set within a low-rise enclave in Bukit Timah, its design language draws on symmetry, greenery and modest scale. The effect is residential calm, a development that feels rooted in its neighbourhood rather than imposed upon it. It reflects a growing preference among affluent buyers for “quiet luxury”: spaces that age gracefully and provide a sense of retreat without overtly calling attention to themselves.
Juniper Hill, completed in 2022, distils that philosophy even further. With only 115 units, it leans on thoughtful detailing and a concierge-style approach to daily living. Its compact scale creates a sense of intimacy rarely found in new launches, while its service offering gives it a subtle hospitality quality. It suggests that luxury can be personal, not just polished.
Pasir Ris 8 demonstrates Allgreen’s ability to reinterpret luxury in a suburban context. As an integrated development anchored by transport connectivity and retail convenience, its premium lies in proximity and ease of movement. The project shows that luxury today is increasingly defined by the flow of daily life, especially the ability to transition smoothly from home to transport, and from local amenities to green spaces. Allgreen reads these shifts well, offering a form of luxury anchored in practicality and future resilience.
Beyond completed projects, the company’s successful tender for the Promenade Peak site signals its next chapter. A rare riverfront parcel in a highly competitive bidding landscape, the site demands architectural sensitivity and long-term conviction. Its acquisition underlines Allgreen’s confidence in shaping Singapore’s evolving city-fringe luxury segment, and its willingness to take on complex, strategically located projects that will influence the wider precinct.
What distinguishes Allgreen within the luxury category is its clarity of intent. Where some developers chase visual statements, Allgreen builds for the long arc of value. Coherent plans, controlled density, intuitive circulation, privacy without isolation. It designs with an understanding that true luxury in Singapore is as much about quiet, well-proportioned space as it is about finishes. The company’s projects tend to attract buyers who prefer solidity over showmanship: families, long-term homeowners, and investors who trust that an Allgreen development will hold its value through multiple cycles.
This sense of discipline also shapes its future pipeline. The company’s successful tender for the Promenade Peak site signals its next chapter and will test how the brand reinterprets luxury for a new, highly visible riverfront context. As Singapore’s planning priorities pivot towards walkability, greenery and the lived experience of space, Allgreen’s steady reading of luxury — calm, intentional and enduring — feels increasingly aligned with the city’s trajectory.
The Best Luxury Developer award recognises this distinct identity. Allgreen Properties Limited has crafted a form of luxury defined not by excess but by clarity, homes that prioritise proportion, comfort and permanence. In a market shaped by constant reinvention, it is this quiet confidence that continues to set the company apart.
Co-living in Singapore has evolved far beyond its early improvisations. The sector today is defined less by trend and more by structure, shaped by formal rules, clearer service benchmarks and residents who value reliability as much as flexibility.
Not all early operators made that transition. What began as a lifestyle experiment for travelling professionals and short-stay residents has matured into a regulated, credible segment with rising expectations around safety, consistency and service. Many early entrants consolidated, downsized or shifted focus as the demands of the market sharpened.
The Assembly Place (TAP), however, has become one of the few to evolve with the sector, pairing scale with operational discipline and showing that co-living can function as a reliable urban housing model. Its Best Co-Living Operator award at the PropertyGuru Asia Property Awards (Singapore) 2025 highlights a company that has helped redefine what shared living means in a dense, mobile city.
Founded in 2019, TAP has grown into a platform that straddles hospitality, real estate operations and community management. Today it oversees a broad portfolio spanning co-living units, purpose-built student accommodation, mixed-use spaces and mall management across Singapore, with a growing pipeline of properties under management.
That surge is matched by a professional operating model built around clear standards: structured onboarding, fast maintenance turnaround, safety compliance, resident support and a consistent service promise regardless of property type. In a segment where quality varies widely, TAP’s ability to deliver the same experience across neighbourhoods is one of its defining strengths.
The past year has been especially important. TAP secured a major tender from MOHH to provide accommodation for healthcare professionals, a milestone that signals trust at an institutional level. Healthcare workforce housing requires reliability, predictability and strict compliance, qualities that only a handful of co-living operators can credibly offer. The award represents more than a single contract; it is recognition that TAP’s systems have matured to a point where essential workforce housing can be anchored by co-living without compromise.
That confidence is reflected in its expansion into mixed-use asset management, including Hafary House and Serene Centre. TAP has also moved into adjacent sectors, with the launch of Social on Outram — its new boutique hotel — and the Springleaf Collection, a design-led landed housing development. Together, these properties show how co-living operators can evolve into broader placemaking and asset-management roles, shaping environments where residents, guests and tenants interact with retail, dining and lifestyle offerings as part of their everyday routines. TAP’s willingness to take on these spaces signals a broader shift: co-living is becoming part of how buildings and districts function, not simply a category of rental housing.
Community-building remains central to TAP’s identity. But unlike many operators that rely heavily on ad-hoc social programming, TAP structures community to support the resident journey: clear house rules, onboarding sessions, curated events, and informal support networks for international tenants who may be navigating Singapore for the first time. This intentional approach helps reduce turnover, strengthen resident satisfaction and foster meaningful social connection, important in a segment where stays are often fluid.
Its flagship, Campus by The Assembly Place, brings these principles together at a scale rarely seen in co-living. The 426-bed student residence, created through the adaptive reuse of existing buildings, operates more like a small university campus than a housing block. Study lounges, fitness spaces, wellness zones, landscaped courtyards and communal kitchens are arranged through a careful zoning strategy that separates quiet areas from social spaces. Privacy is built into room design; community is embedded in circulation and amenity planning. It is a model that demonstrates TAP’s ability to operate co-living at institutional size without losing sensitivity to how residents live and learn.
Across its portfolio, TAP serves a broad demographic: international students, young professionals, talent relocators, and now healthcare workers. On the landlord side, owners increasingly turn to TAP for asset enhancement and stabilisation, relying on its ability to improve occupancy, manage compliance and create long-term value. As regulations surrounding shared accommodation continue to evolve, TAP’s structured operating model provides reassurance to both residents and property owners that standards will be upheld.
Looking ahead, The Assembly Place is well positioned to shape the next phase of co-living in Singapore. Flexible housing demand is rising alongside global mobility, hybrid work patterns and a growing student population. Mixed-use assets are becoming more central to how districts function. And the city’s rental landscape is shifting toward professionally managed accommodation rather than ad-hoc shared living. TAP’s combination of operational discipline, community-led design and cross-asset expertise gives it a clear role in that trajectory.
The Best Co-Living Operator award recognises maturity as much as scale. TAP has shown that co-living succeeds when it balances community with structure, hospitality with real estate discipline, and flexibility with safety and consistency. In doing so, it has helped establish co-living as a viable, long-term part of Singapore’s housing ecosystem and set a benchmark for what the sector can become.
On a quiet stretch of University Road in District 11, three detached homes sit on elevated terrain, their forms stepping with the slope rather than fighting it. Terraces, voids and openings choreograph how light and breeze move through each house, and the architecture feels tailored to the site rather than imposed upon it.
This kind of specificity has become increasingly rare in Singapore’s landed segment. With supply constrained, planning rules tightening and few new plots entering the market, the craft of designing and building houses at this level of care stands out. It is in this context that Jean Yip Developments has been recognised as Best Landed Developer at the PropertyGuru Asia Property Awards (Singapore) 2025.
Founded in 2002, the company has completed 16 landed projects, a compact but telling body of work, more than half delivered in the past five years. It operates quietly, with a design-led approach that treats every home as a bespoke response to its site.
Landed development requires an unusual combination of sensitivity and precision: understanding street character, setbacks, sightlines, gradients, vegetation and how the sun shifts across low-rise neighbourhoods through the day. Jean Yip Developments works comfortably within these parameters, producing houses that feel considered rather than imposing.
Its recent University Road project in District 11 illustrates this craft. The three detached homes sit on elevated terrain, a condition that can easily overwhelm a design if handled without care. Instead of forcing symmetry onto the slope, the architecture steps naturally with the land. Terraces, voids and openings choreograph how light and breeze move through each home. Internal circulation unfolds gradually, shaped by light wells and side courtyards that create moments of calm. The result is a trio of houses that feel individually tailored yet quietly connected by proportion and materiality.
Other projects show the same design discipline expressed in different contexts. At 8 Dyson, three bungalows adopt crisp modern lines tempered by greenery and controlled frontage, responding to the prestige and privacy expectations of the area. Along Shelford Road, two bungalows achieve openness without exposing residents to the street, using landscape buffers to soften boundaries.
At Chancery Road, a five-home cluster demonstrates how individuality can be preserved even within a coordinated framework, with each house expressed through subtle shifts in form and orientation. Across these developments, refinement lies in architectural judgement rather than showiness.
What sets Jean Yip Developments apart is its understanding of landed buyer psychology. These are homeowners seeking permanence — families who expect a house to hold its character for decades rather than cycles. They look for proportion, material integrity and comfort, not visual excess. The company’s homes are planned with these needs in mind: long sightlines that bring light deep into the plan, circulation that feels intuitive, upstairs spaces that balance privacy with openness, and materials chosen to age well. Landscaping is treated as a structural element that shapes the microclimate of each plot, not an afterthought.
The developer also reads the streetscapes of landed neighbourhoods with care. In areas where context matters — whether a quiet cul-de-sac, a sloped ridge, or a transitional fringe near a major road — the company’s designs show an understanding of how to sit comfortably within the existing fabric. Massing is moderated to avoid overpowering neighbours, and architectural language is calibrated to the character of each precinct. This neighbourhood sensitivity has become a defining part of its reputation.
Beyond Singapore, the company has selectively extended its craftsmanship overseas. In Japan, its portfolio of Airbnb properties applies the same small-scale spatial intelligence in a hospitality context. In Australia, its first project — a 117-unit development in Perth — won multiple awards, showing that its attention to proportion and detailing holds up under international scrutiny. These ventures remain measured, reflecting a commitment to quality rather than growth for its own sake.
Demand for landed homes is rising, shaped by multi-generational living, shifting notions of privacy and the desire for individuality in a dense city. With limited new supply and rising expectations for architectural quality, the segment demands a developer who can work with precision and empathy. Jean Yip Developments has shown a consistent ability to deliver homes that respond to both the practicalities of construction and the nuances of domestic life.
The Best Landed Developer award is, in effect, an endorsement of this rare craft. In a city shaped by vertical growth, Jean Yip Developments builds houses that retain the intimacy of home – spaces defined by proportion, light and thoughtful detail. In doing so, it has carved out a clear identity in one of Singapore’s most exclusive and challenging segments.