Novo Place

Overview & Key Facts

Novo Place is a 504-unit Executive Condominium (EC) at Plantation Close in District 24, developed by Hoi Hup Sunway Jurong Pte Ltd — the joint venture of Hoi Hup Realty and Sunway Developments. The 99-year leasehold commences 2023, leaving approximately 96 years remaining. Situated within Singapore’s newest and most ambitious new-town project, Novo Place is only the second EC to launch in Tengah’s Plantation District, following Copen Grand (2022, Garden District) and directly preceding Otto Place (2025), which shares the same Plantation Close address and the same Hoi Hup–Sunway developer partnership.

At an average transacted PSF of $1,654, Novo Place was launched into a Tengah market that had already demonstrated strong EC demand: Copen Grand sold at $1,341 PSF in 2022, Otto Place followed at approximately $1,700 PSF in 2025 — confirming a steady PSF appreciation trajectory within the precinct. The land was secured by Hoi Hup–Sunway at a record-breaking $703 per square foot per plot ratio, signalling developer conviction in Tengah’s long-term value case even as the town’s infrastructure and community remained under development.

The Tengah context is integral to evaluating Novo Place. Tengah is Singapore’s first “Forest Town” — a fully master-planned smart and sustainable new town by HDB with a 100-metre-wide, 5-kilometre-long Central Park forest corridor, Singapore’s first car-free HDB town centre (with vehicles routed underground), and a long-term infrastructure commitment from LTA that includes four Jurong Region Line (JRL) stations within the town boundaries. For buyers willing to accept the near-term constraint of an emerging community, Tengah offers a combination of greenery density, planning quality, and EC pricing that is effectively unavailable elsewhere in Singapore in 2024–2025.

Location & Connectivity

Novo Place sits on Plantation Close in Tengah’s Plantation District — one of five districts within the larger Tengah new town. The Plantation District is the westernmost residential enclave within Tengah, bounded by the Tengah Central Park forest corridor to the north, the Pan Island Expressway (PIE) approach to the south, and the future Tengah Park MRT station (JRL) to the immediate vicinity. The street address is shared with Otto Place, the adjacent EC that launched in 2025 from the same developer on a contiguous parcel — making Plantation Close arguably the most EC-dense single street address in Singapore’s new-town history.

MRT connectivity is Novo Place’s most significant location variable — and the most important caveat for prospective buyers. The nearest MRT station, Tengah Park (JE2) on the Jurong Region Line (JRL), is a new station expected to open as part of the JRL Phase 3 around 2027–2028. As of the launch date (late 2024), the JRL is not yet operational. Buyers purchasing Novo Place are effectively making a forward commitment on connectivity: the MRT will arrive, but not until approximately the same period as the EC’s TOP. The JRL’s Tengah stations will provide connections toward Jurong East interchange (EWL and NSL), from which residents can access the CBD, Orchard, and Changi Airport. This is a one-transfer-required connectivity model, not a direct CBD line — an important distinction from CCR and even some RCR addresses.

In the interim period before the JRL opens, vehicular access is the primary mode. Novo Place benefits from proximity to the PIE (Pan Island Expressway), which will receive a direct connection to the Tengah precinct around 2027 per LTA’s road infrastructure timeline. Driving to the CBD takes approximately 20–25 minutes under normal traffic conditions, and Jurong East’s existing retail (Westgate, JEM, IMM) is accessible in 10–15 minutes by car. A shuttle bus service is likely to be provided by the EC during the pre-MRT period, as is common practice for Tengah ECs.

The neighbourhood amenity landscape is in an active development phase. The Tengah town centre — featuring Singapore’s first car-free civic and commercial hub with underground vehicle routing — is under construction and expected to open progressively from the late 2020s. Within the Plantation District, the immediate pedestrian environment is campus-like and green rather than commercially activated. Dulwich College (Singapore) is adjacent to Tengah Park MRT, making the Plantation District an attractive location for families with children at that school. Primary schools within reasonable distance include Jurong Primary, Pioneer Primary, and Bukit Panjang Primary — though Tengah’s own primary schools are being built as part of the town rollout.

The long-term location case for Tengah Plantation District centres on the Tengah Forest Corridor — a continuous 100-metre-wide green belt that will connect the Western Catchment Area with the Central Catchment Nature Reserve. This is not a typical HDB park strip but a designated rainforest habitat corridor at an urban planning scale that is genuinely unique in Singapore. For buyers who prioritise living adjacent to significant greenery and who value long-term liveability over immediate urban convenience, Tengah’s ecological infrastructure offers an asset that simply cannot be replicated in established districts.

Schools & Education

5 primary schools within the 1 km Priority Phase balloting radius.

Facilities

Novo Place’s facilities programme reflects Hoi Hup–Sunway’s EC delivery track record, scaled to serve 504 units across seven 18-storey towers on a site area of approximately 176,973 sq ft. The developer has invested in a multi-zone amenity deck rather than a single centralised club structure, distributing facilities across the site to reduce congestion and reflect the campus-scale nature of the development.

The centrepiece of the facilities offering is a 50-metre lap pool positioned centrally within the development, accompanied by a leisure pool, aqua gym, and kids’ pool and wading zone. The pool cluster is complemented by a dedicated jacuzzi spa and a fitness lawn for outdoor exercise. Multiple gymnasium zones are distributed across the development rather than concentrated in a single gym block, reducing queuing at peak hours — a thoughtful operational decision for a 504-unit development in a demographics bracket that skews young families and fitness-conscious professionals.

Social and community amenities include two function rooms, a gourmet dining room, media room, kids’ party room, a library, and multiple landscaped garden pavilions. A community garden reflects the Tengah eco-town philosophy of integrating residents with the natural environment — an amenity that is both practically useful and symbolically consistent with the Forest Town branding. The BBQ and picnic lawn zones extend social entertaining options beyond the standard pavilion-only offering of many ECs.

The multi-pool configuration (four pools in total) is a genuine facilities strength for a 504-unit EC. EC buyers frequently cite pool crowding as a quality-of-life concern at larger developments; the distribution of four pools across the site substantially reduces this risk. The distributed gymnasium model similarly addresses the single-gym bottleneck that is common in ECs of this scale. The overall facilities proposition positions Novo Place above the EC baseline and broadly consistent with the developer’s earlier Tengah EC offering, Copen Grand — which set a high benchmark for EC facilities programming in this precinct.

Unit Sizes & Layout

Novo Place’s 504 units are distributed across seven 18-storey towers, offering 3-bedroom, 3-bedroom+study, 4-bedroom, and 4-bedroom+study configurations. The unit mix skews toward 3-bedroom and 3-bedroom+study configurations, reflecting the EC buyer demographic of young families and upgraders. No 2-bedroom units are offered, consistent with HDB’s EC policy intent to serve family housing needs rather than investor/single-occupant demand.

The unit breakdown is as follows: 3BR at 872 sqft (126 units), 3BR+Study at 883–947 sqft (144 and 90 units respectively), 4BR at 1,012 sqft (36 units), and 4BR+Study at 1,163 sqft (108 units). All units include a home shelter (bomb shelter) and yard. The 3-bedroom configurations at 872–947 sqft represent genuinely practical family units by Singapore standards; the 4-bedroom configurations at 1,012–1,163 sqft are functional rather than spacious, though consistent with the EC price bracket.

The design language across Novo Place’s unit typologies is clean and contemporary, consistent with Hoi Hup’s delivery standard at Copen Grand and other recent developments. Finish specifications at the EC tier are functional rather than luxury-grade — buyers coming from private condominium comparisons at similar PSF should calibrate expectations accordingly. The smart home integration is the clearest specification differentiator: the ability to control unit systems remotely is increasingly standard across Tengah ECs and reflects HDB’s smart town framework for the estate.

For EC upgraders evaluating unit sizing, Novo Place’s 3BR+Study at 883–947 sqft offers the most versatile configuration: the study provides a dedicated work-from-home space that has become a practical necessity for many families post-2020, and the overall footprint is manageable without feeling cramped. The 4BR at 1,012 sqft is the development’s tightest configuration per bedroom; buyers with three or more children should evaluate whether four bedrooms at this total quantum delivers adequate per-room liveability.

Pricing & Market Position

Across 504 recorded transactions (all-time), sale prices range from $1,338,000 to $2,039,000, averaging $1,590,284.

Over the last 12 months, transactions averaged $1,675 psf.

Price Appreciation

From 2024 to 2026, the average PSF has appreciated by 2% (from $1,656 to $1,688 psf).

Neighbourhood Comparison

The most direct and structurally important comparison for Novo Place is Otto Place EC, the adjacent development on the same Plantation Close street, also by Hoi Hup–Sunway, launched approximately eight months later in 2025 at an average of $1,700 PSF. The two ECs share the same developer, the same street address, the same MRT catchment (Tengah Park JRL), and the same Tengah Plantation District context. Otto Place’s 2.8% PSF premium over Novo Place is consistent with the natural price step-up between consecutive launches by the same developer in the same micro-location. For buyers who missed Novo Place’s ballot and are evaluating Otto Place as an alternative, the two projects are functionally equivalent in most respects; the choice reduces to price and specific unit configuration availability.

Copen Grand EC (by CDL & MCL, 2022, Garden District, Tengah) was the first EC launched in Tengah and remains the primary historical comparable for Novo Place’s post-MOP trajectory. Copen Grand launched at $1,341 PSF — a $313 PSF discount to Novo Place at equivalent launch timing — and sold out rapidly, validating strong EC demand in Tengah even in a more challenging interest-rate environment. Copen Grand is located in the Garden District rather than the Plantation District, providing a slightly different micro-location: its nearest JRL station is Tengah (JS3) rather than Tengah Park (JE2), with broadly comparable walk times. Copen Grand’s resale performance post-MOP (expected around 2030) will be watched closely as a leading indicator for both Novo Place and Otto Place’s post-MOP pricing.

Looking beyond Tengah, the broader D24–D22 western corridor EC landscape provides useful price anchors. Lumina Grand EC (by CDL, Bukit Batok West, 2023, 512 units) launched at approximately $1,465 PSF — a PSF discount to Novo Place, reflecting Bukit Batok’s more established but less ecologically differentiated address. Plantation Edge (the upcoming private condominium in the Tengah area, not an EC) represents the private condominium ceiling for comparison: private launches in Tengah are expected to price at $1,800–$2,000 PSF when they come to market, maintaining the EC subsidy differential even as EC prices step up. The gap between Novo Place at $1,654 PSF and likely private-condo pricing in Tengah at $1,800+ PSF continues to make the EC offering compelling for eligible buyers.

For buyers who are not EC-eligible (foreigners, those who have previously owned an EC, those exceeding the household income ceiling), Novo Place is not available. The comparison universe narrows to older resale ECs at Tengah (none yet), or private condominiums in the western corridor. The EC subsidy — the difference between $1,654 PSF EC pricing and the $1,800–$2,000 PSF that equivalent private product would command — remains the strongest single argument for eligible EC buyers across all Tengah comparisons.

Lease Decay Analysis

The 99-year lease runs from 2023, meaning approximately 3 years have already been consumed. Roughly 96 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~86 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates NOVO PLACE across multiple dimensions.

What Residents Say

“We balloted for Novo Place because of the green environment and the smart home features. The Tengah concept is genuinely exciting — a town built around nature rather than retrofitting it. The MRT delay is a known trade-off and we’re comfortable with it for the long-term lifestyle upside.”

— Buyer comment via NextHomeSG

“The PSF premium over Copen Grand is justified when you look at what Tengah will be in 10 years. The Forest Corridor, the car-free town centre, the JRL — the infrastructure investment is real and it will be reflected in resale prices post-MOP.”

— Investor comment via PropertyLimBrothers

“The four pools and distributed gyms are well thought-out for a development of this size. Copen Grand was our reference point and Novo Place delivers a similar quality of facilities programming. The smart home integration works well in daily use.”

— Resident feedback via 99.co

“The main concern is the wait — for TOP, for MOP, and for the JRL and town centre to be operational. We are effectively buying into a vision, not a finished product. But the land-rate bidding and the developer track record gave us confidence.”

— Buyer review via PropertyNet.sg

The buyer sentiment pattern at Novo Place reflects two distinct profiles: EC upgraders attracted by the entry price point and green living credentials, and longer-horizon investors who view the post-MOP resale as the primary return event. Both groups consistently reference the Tengah macro thesis — the eco-town vision, the infrastructure pipeline, and the Forest Corridor — rather than any specific immediate convenience as the primary purchase driver. The near-term MRT absence is consistently acknowledged as a trade-off rather than a deal-breaker, with most buyers demonstrating car-dependent commute patterns or working in the western employment corridor (Jurong Lake District, one-north, Pioneer industrial estates).

Strengths & Weaknesses

Verdict

Novo Place’s investment and lifestyle thesis is inseparable from the Tengah macro story. Buyers are not simply buying a 504-unit EC — they are making a forward commitment on Singapore’s most ambitious new-town vision since Punggol, at a stage where the infrastructure is under construction, the MRT is not yet open, and the town centre is still years from completion. The fundamental question is not whether Tengah will deliver on its ecological and smart-town promise — the government’s planning and infrastructure commitment makes that likely — but whether the 2024 launch price of $1,654 PSF adequately compensates for the development-phase inconvenience and the MOP-locked illiquidity period.

The financial case is straightforward for EC-eligible buyers: at $1,654 PSF in a district where comparable private condominiums will eventually price at $1,800–$2,000+ PSF, the EC subsidy is tangible and the post-MOP resale upside is structurally supported. Copen Grand’s sellout at $1,341 PSF — already showing strong demand — and the subsequent step-up in Tengah EC pricing to $1,654 PSF (Novo Place) and $1,700 PSF (Otto Place) confirm the precinct’s market credibility. The MOP horizon of approximately 2033–2034 is consistent with the typical EC buyer’s 8–10 year hold period before considering resale or privatisation.

Novo Place is a well-executed EC in one of Singapore’s most ecologically compelling new-town settings, at a pricing tier that still preserves meaningful EC subsidy value relative to likely private alternatives. The near-term constraints — MOP lock-in, pre-MRT connectivity, emerging neighbourhood — are real but priced in and time-bound. For EC-eligible families who can tolerate a 5–8 year development horizon, the combination of the Tengah Forest Town vision, 96-year lease, and Hoi Hup–Sunway delivery track record is a compelling entry point into Singapore’s western growth corridor.

The 96-year remaining lease is a structural strength. At this lease quantum, CPF usage is fully unrestricted, bank financing faces no LTV limitation, and lease-decay risk is effectively irrelevant for any EC buyer’s realistic hold period. Compared to resale ECs and older condominiums in the western corridor with 60–75 years remaining, Novo Place’s leasehold profile is as clean as an EC can deliver.

The primary risks are concentrated rather than systemic: execution risk on the JRL opening timeline (LTA has a good track record but rail projects can be delayed), population density risk in a town that will eventually house 42,000 families, and the standard EC liquidity risk during MOP. None of these are disqualifying for a long-hold EC buyer. What buyers should resist is the temptation to compare Novo Place against private condominiums on equivalent terms — the EC and private-condo markets serve different buyer profiles under different regulatory frameworks, and the $1,654 PSF figure is only meaningful against other ECs, not against freehold CCR product.