This year’s last OCR project, Faber Residence, sells 86% of units at weekend launch at S$2,160 psf

SINGAPORE: Faber Residence, a joint venture between GuocoLand and Hong Leong Holdings, saw a strong turnout during its launch over the weekend (Oct 18 and 19), with 86%, or 344 of its 399 units, sold at an average price of S$2,160 per square foot (psf).

The development marks the final Outside Central Region (OCR) project launch of 2025. 

Prices for the project’s two-bedroom units (646 sq ft) started at S$1.28 million, while the three-bedroom units (797 to 818 sq ft) were priced from about S$1.57 million, which PropNex CEO Kelvin Fong described as the “sweet spot” price range that appealed to many households, as reported by EdgeProp Singapore.

Mr Fong noted that buyers likely saw value in the project, given that new non-landed private homes in the OCR have averaged about S$2,275 psf this year.

All 80 two-bedroom and 199 three-bedroom units were sold, while more than half of the four- and five-bedroom units were bought.

“We believe the sensitive pricing and the project’s location advantages played a key role in attracting buyers,” Mr Fong said.

GuocoLand noted that most buyers were Singaporeans and permanent residents, with the majority purchasing for their own use.

The company’s residential director, Dora Chng, said many buyers were drawn by the project’s riverfront location, proximity to established schools, and direct access to the Ulu Pandan Park Connector. /TISG

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