The Arcady At Boon Keng
Overview & Key Facts
The Arcady at Boon Keng is a freehold new-launch condominium at 1037 Serangoon Road in District 12, replacing the former Euroasia Apartments which was acquired through collective sale in 2022 for S$222.18 million. Developed by a joint venture of KSH Holdings, SLB Development, and Ho Lee Group, the single-block, 24-storey development houses 172 units across 9 stacks. Completion is expected in 2028.
Designed by the award-winning firm Park + Associates, The Arcady targets a specific buyer profile: those who prioritise freehold tenure, MRT convenience, and school proximity over resort-scale facilities or large communal spaces. At an average launch PSF of approximately S$2,570, the pricing positions it as a freehold entry point to the city fringe — not cheap in absolute terms, but defensible when benchmarked against the perpetual tenure and District 12 address.
The development is oriented North-South across all stacks, ensuring residents avoid direct afternoon sun — a practical design decision that reflects thoughtful architectural planning rather than mere marketing. Launch-day sales saw 51 of 172 units (29.7%) sold, a moderate start that reflected broader market uncertainty in late 2023 rather than any fundamental weakness in the product.
Location & Connectivity
The defining locational asset is walkable access to Boon Keng MRT (NE9) on the North-East Line. From the station, Dhoby Ghaut is three stops away, providing interchange access to the North-South Line and Circle Line. The CBD is reachable in under 15 minutes, Novena medical hub in 10 minutes, and Orchard via interchange in about 15 minutes. For a freehold address, this level of MRT convenience is uncommon.
The CTE and PIE are accessible within a 3-minute drive along Serangoon Road, making car commutes equally efficient. During off-peak hours, Orchard Road is 10 minutes away and the CBD about 15 minutes. The neighbourhood combines the functional density of the Boon Keng/Kallang area with the character of the Serangoon Road heritage corridor.
Daily amenities include Bendemeer Market and Food Centre (one of the most popular hawker centres in the area), along with shops and eateries along Upper Boon Keng Road. For larger retail needs, City Square Mall and Mustafa Centre are nearby, and the development is within driving distance of Novena’s medical and shopping cluster.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Bendemeer Primary School | primary | Within 1 km |
| Bendemeer Secondary School | secondary | Within 1 km |
| Hong Wen School | primary | Within 1 km |
| Stamford Primary School | primary | ~1.4 km |
| Assumption Pathway School | secondary | ~1.4 km |
| Farrer Park Primary School | primary | ~1.4 km |
| School of Science and Technology | jc | ~1.6 km |
| Balestier Hill Primary School | primary | ~1.6 km |
Facilities
The Arcady’s facilities are functional but boutique in scale, as expected for a 172-unit development. Amenities include an infinity pool, BBQ pavilion, karaoke room, sky gym, kid’s club, alfresco dining space, and The Arcady Club for cocktails. The rooftop features a Stargazing Lawn with elevated views over the surrounding neighbourhood. These are pleasant shared spaces, but they do not compare to the resort-scale offerings of larger developments.
“The facilities are compact but well-designed. For 172 units, there is enough variety to keep things interesting. The rooftop stargazing lawn is a nice touch — the views are surprisingly good for this part of town.”
— Showflat visitor feedback via PropertyGuru
One practical consideration: maintenance fees for boutique developments tend to be higher on a per-unit basis due to the absence of scale economies. With only 172 units sharing facility upkeep costs, residents should expect per-unit maintenance contributions that exceed those at larger condominiums. This is a structural trade-off of boutique living, not a flaw unique to The Arcady.
Unit Sizes & Layout
The unit mix spans 1-bedroom through 5-bedroom configurations plus penthouses, offering unusual breadth for a boutique development. One-bedroom units start from approximately S$1.293 million (around S$2,314 psf), while 3-bedroom units begin at approximately S$2.246 million (around S$2,156 psf). The PSF decreases with unit size, which is typical of new launches and means the larger units offer marginally better value per square foot.
All units are oriented North-South across the 9 stacks, ensuring consistent natural light without harsh afternoon sun exposure. The single-block design means that cross-ventilation is achievable on most units, though stacks facing Serangoon Road will experience some traffic noise. Interior specifications are appropriate for the price point, with branded kitchen appliances and quality bathroom fittings standard throughout.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 46 | $2,606 | $1,672,065 |
| 2 BR | 10 | $2,653 | $2,027,310 |
| 3 BR | 33 | $2,564 | $2,700,416 |
| 4 BR | 5 | $2,639 | $3,823,294 |
Pricing & Market Position
Based on 94 recorded transactions, sale prices range from $1,316,000 to $3,926,000, averaging $2,185,301 (~$2,644 psf).
Price Appreciation
From 2024 to 2026, the average PSF has appreciated by 3% (from $2,577 to $2,654 psf).
Neighbourhood Comparison
The most direct competitor is The Woodleigh Residences, a 99-year new launch near Woodleigh MRT with significantly more units (667) and a broader facility set, at a slightly lower PSF. The key difference is tenure: The Arcady’s freehold status versus Woodleigh’s 99-year lease. For buyers who place high value on perpetual ownership, this distinction alone may justify the premium.
Midtown Modern offers a larger-scale freehold option near Bugis MRT at a higher PSF, with direct mall integration and a more established commercial neighbourhood. For resale comparisons, Kerrisdale on Sturdee Road provides similar MRT convenience (Farrer Park) with spacious units at approximately S$1,653 psf — roughly 35% less than The Arcady — but with only 71 years of lease remaining. The fundamental question is how much you are willing to pay for a fresh freehold title versus an ageing leasehold at a steep discount.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE ARCADY AT BOON KENG | Freehold | 2024 | 172 | $2,644 |
| THE ORIE | 99 yrs lease commencing from 2024 | 2025 | 52 | $2,730 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | 2016 | 843 | $1,643 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | — | 578 | $1,838 |
| TREVISTA | 99 yrs lease commencing from 2008 | — | 590 | $1,702 |
| VERTICUS | Freehold | 2021 | 162 | $2,122 |
ShiokNest Scores
Our proprietary scoring system evaluates THE ARCADY AT BOON KENG across multiple dimensions.
What Residents Say
“Bought for the freehold tenure and Boon Keng MRT access. The North-South orientation is a genuine plus — no afternoon sun means lower energy bills. Waiting for TOP in 2028 but confident in the fundamentals.”
— Buyer feedback via PropertyGuru
“The showflat finishings are decent but not outstanding for the PSF. The location is the real selling point — Boon Keng MRT is very convenient and the area has genuinely good food options.”
— Showflat visitor via property blog review
“For the price, I expected more from the facilities. 172 units is boutique but it also means higher maintenance fees per unit. The freehold is the key draw — everything else is average for a new launch at this PSF.”
— Prospective buyer discussion via 99.co
Strengths & Weaknesses
- Freehold tenure — rare for a new launch at this PSF in the city fringe
- Walking distance to Boon Keng MRT (NEL) — CBD in under 15 minutes
- North-South orientation across all stacks — no afternoon sun
- Hong Wen Primary School within 1 km — strong P1 balloting advantage
- Designed by Park + Associates — thoughtful architectural planning
- Diverse unit mix: 1-BR to 5-BR plus penthouses
- CTE and PIE accessible within 3-minute drive
- Rooftop Stargazing Lawn with elevated neighbourhood views
- New development (TOP 2028) — fresh finishings, no renovation needed
- Launch PSF of ~$2,570 — premium over resale alternatives
- Boutique 172 units — higher per-unit maintenance fees
- Limited facility scale — no 50m pool, no tennis court
- Surrounding HDB density — urban environment, not resort setting
- Serangoon Road traffic noise affects road-facing stacks
- TOP 2028 — 2+ year wait for completion, construction risk
- Moderate launch-day uptake (29.7%) suggests market uncertainty
- Compact unit sizes by historical standards for this district
Verdict
The Arcady at Boon Keng is best understood as a defensive, long-hold freehold asset on the city fringe. The investment thesis rests on three pillars: perpetual tenure (eliminating lease decay concerns), MRT-led convenience (Boon Keng NE9, three stops to Dhoby Ghaut), and school proximity (Hong Wen Primary within 1 km). These are fundamentals that support steady rental demand and long-term value preservation.
The trade-offs are equally clear. At S$2,300–$2,570 psf, buyers are paying a meaningful premium over resale options in the area — nearby Kerrisdale trades at approximately S$1,653 psf with a similar MRT convenience profile, albeit with a 71-year remaining lease. The premium buys freehold tenure, fresh finishings, and modern design — whether that premium is justified depends entirely on your holding period and tenure preferences.
For buyers who value freehold tenure, MRT walkability, and a District 12 address, and who are willing to accept boutique-scale facilities, urban noise, and surrounding HDB density, The Arcady delivers a focused product. It is not designed to be everything to everyone — it is designed to serve a specific buyer profile exceptionally well.