Thomson Reserve: First mega launch in eight years at Upper Thomson, priced from $2,608 psf

The 1,268-unit Thomson Reserve will be the largest new private residential project to launch in Singapore this year, and the first mega development with more than 1,000 units to debut in 2026.

Occupying a sprawling 5ha site — equivalent to about seven football fields — the development has a prominent 500m frontage along Upper Thomson Road.

A VIP preview will be held on Friday, Oct 16, ahead of the public preview the following day. The official launch is scheduled for Oct 31.

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It will be the first major new residential launch in the Upper Thomson–Shunfu neighbourhood in eight years, following the 1,206-unit JadeScape in 2018.

The 99-year leasehold Thomson Reserve is a redevelopment of the former Thomson View Condominium, which was sold en bloc for $810 million in November 2024.

The buyer was a consortium comprising CapitaLand Development (CLD), with a 50% stake, UOL Group (40%) and its subsidiary, Singapore Land Group (10%).

The acquisition marked the end of a 17-year collective-sale journey for Thomson View’s owners, who had made five attempts since 2007 before finally securing a buyer.

The $810 million purchase price translated into a land rate of $1,178 psf per plot ratio (psf ppr), after factoring in the land betterment charges and the lease top-up premium to a fresh 99 years.

"A large five-hectare site like Thomson Reserve gives us the opportunity to create a spacious development that merges architecture with nature, offering a differentiated product that captures an increasingly sought-after lifestyle that owners are looking for," says UOL Group CEO Liam Wee Sin.

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"Such distinctive locational and design attributes, together with the limited supply, have generated keen interest in Thomson Reserve," adds Liam.

Proximity to nature and amenities

Thomson Reserve is surrounded by established low-rise private residential estates, including Soo Chow Gardens and Adelphi Park, as well as Windsor Park Estate, which is a Good Class Bungalow area.

Its elevated position offers panoramic views stretching from the surrounding landed estates to the city skyline, Singapore Island Country Club, Windsor Nature Park, the Central Catchment Nature Reserve and Bukit Timah Nature Reserve.

The Central Catchment Nature Reserve spans more than 3,000ha of forests and reservoirs, including MacRitchie Reservoir and Upper and Lower Peirce Reservoirs.

“What made this particular site especially compelling is also its scale and permanent natural setting,” says Liam. “The elevated topography, surrounding landed housing enclaves and proximity to the reservoirs and Central Catchment offer exceptional views and a sense of openness that is increasingly rare in Singapore.”

The development is a two-minute walk from Upper Thomson MRT Station on the Thomson-East Coast Line, with sheltered access from the main entrance.

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Ai Tong School is within walking distance, while Thomson Plaza is directly across Upper Thomson Road and accessible via an overhead bridge or the MRT station’s underground linkway.

Residents will also have access to the popular Upper Thomson dining stretch, which includes longstanding eateries such as Casuarina Curry, Nam Kee Chicken Rice and The Roti Prata House, alongside establishments such as Columbus Coffee Co, Filo Bistro, Salted Caramel and Omoté.

“Redeveloping [the Thomson View] site has given us an opportunity to build on the strengths of an established neighbourhood,” says CLD CEO (Singapore & International) Ronald Tay.

Two collections catering to different buyers

Thomson Reserve comprises two residential collections. The Classic Collection has 740 units across four 21-storey towers, while the Luxury Collection comprises 528 units in two 30-storey towers.

The Classic Collection offers two- to four-bedroom layouts, while the Luxury Collection features a mix of two-bedroom premium units to five-bedroom suites. Of the 528 units in the Luxury Collection, 112 larger four-bedroom premium units and five-bedroom suites feature private lift access.

Two-bedroom configurations make up 716 units (56.5%). Unit sizes range from 592 to 775 sq ft, with prices starting from $1.544 million ($2,608 psf).

Three-bedroom unit types account for another 350 units (27.6%), with sizes ranging from 947 to 1,152 sq ft. Prices start from $2.503 million ($2,643 psf).

Four-bedroom units account for 174 units (13.7%), ranging from 1,238 to 1,485 sq ft. Prices start from $3.388 million ($2,737 psf) for a 1,238 sq ft apartment.

At the top end are 28 five-bedroom suites, each measuring 1,808 sq ft. Occupying a single residential stack with unblocked views towards MacRitchie Reservoir and the Orchard Road skyline, they account for just 2.2% of the development.

The range of apartment sizes is intended to appeal to buyers at different stages of life. “While we expect interest from buyers familiar with the Upper Thomson neighbourhood, we believe its appeal extends beyond the immediate catchment to homebuyers across Singapore,” says CLD’s Tay.

He expects Thomson Reserve to attract first-time homeowners, young families and HDB upgraders, as well as existing private homeowners looking to upgrade or rightsize, and multigenerational families seeking larger living spaces.

Bringing the Central Catchment into the development

The six residential towers occupy just 12% of Thomson Reserve’s site, leaving the remaining 88% for landscaping, water features and recreational facilities.

Designed by P&T Consultants, the towers have been oriented to maximise views of the surrounding greenery and minimise direct overlooking between blocks.

Inspired by the man-made contours of nearby MacRitchie Reservoir, P&T designed organically shaped pools and water features across the grounds to evoke a series of mini reservoirs.

More than 45% of the residential stacks face the Central Catchment Nature Reserve, while over 80% enjoy either greenery views or views of the development’s internal landscaping and waterscapes designed by Ecoplan Asia.

The development will have more than 80 facilities across three clubhouses, including eight swimming pools, two of which are 50m lap pools.

“Situated on one of the largest collective sale sites in recent history, the generous land size has allowed the developers to curate expansive greenery and comprehensive facilities,” says Mark Yip, CEO of Huttons Asia, one of the three appointed joint marketing agents for Thomson Reserve, alongside PropNex and ERA.

Marcus Chu, CEO of ERA Singapore, believes the development’s elevated position and surrounding views will appeal particularly to buyers of higher-floor apartments. However, he considers the combination of greenery and convenience to be the stronger draw.

“Views may influence which unit a buyer chooses, but location and liveability are more likely to drive the decision to choose the development in the first place,” he says. Thomson Reserve is expected to obtain its temporary occupation permit in the second half of 2030.

Pent-up demand for new homes

The last mega condo launch in the immediate Upper Thomson–Shunfu area was JadeScape in 2018. Developed by Qingjian Realty, the project occupies the former Shunfu Ville site, a privatised HUDC estate that the developer acquired through an en bloc sale for $638 million in 2016.

JadeScape was subsequently fully sold and completed in 2022.

“Thomson Reserve represents the first new mega development of more than 1,000 units to be launched in the Bishan Planning Area in about eight years,” says Mohan Sandrasegeran, SRI’s head of research and data analytics.

It will be the UOL-CapitaLand joint venture’s second mega development in two years, following the 1,193-unit ParkTown Residence in Tampines. Launched in February 2025, ParkTown Residence sold 1,041 units, or 87%, during its launch weekend and is now 98% sold.

“We expect Thomson Reserve to garner healthy buyer interest owing partly to pent-up demand, its strong location attributes, and the wide selection of units at the development,” says Kelvin Fong, CEO of PropNex.

Mega developments tend to attract interest because of their wider range of unit types, greater market visibility and extensive recreational facilities, Fong adds.

For prospective buyers at Thomson Reserve, JadeScape also offers a useful pricing benchmark. Both are large 99-year leasehold developments in District 20, near MRT stations, and are redevelopments of private sites purchased en bloc.

According to ERA Research and Market Intelligence, JadeScape’s median resale price reached $2,341 psf in 2026, up 7.6% from 2023, based on caveats lodged as at Oct 13.

Meanwhile, SRI Research’s analysis of URA Realis caveats showed 253 resale transactions at JadeScape to date. All 253 transactions recorded gross gains for their respective sellers, based on the difference between their recorded purchase and resale prices, says Sandrasegeran.

Where will buyers come from?

PropNex’s sales data from JadeScape’s launch in 2018 and subsequent sales showed that about 53% of buyers served by the agency had HDB addresses. At the 372-unit Amo Residence, launched in 2022, the corresponding proportion was 46%. At both projects, just over a quarter of buyers served by PropNex lived in District 20.

“These figures suggest that new launches in the area can draw demand from a meaningful pool of HDB upgraders, as well as buyers already living in the district,” says PropNex’s Fong.

He expects HDB upgraders at Thomson Reserve to come from established estates such as Bishan and Ang Mo Kio, with interest likely to be concentrated in the larger two-bedroom and three-bedroom units.

Bishan recorded 79 HDB resale transactions of at least $1 million as at Oct 13, compared with 98 for the whole of 2025, according to ERA Research and Market Intelligence.

Another potential buyer group is landed homeowners looking to rightsize. ERA data shows that the median resale price of landed homes in District 20 has almost doubled from $1,152 psf in 2016 to $2,300 psf in the first nine months of 2026. This appreciation could allow owners to unlock some of their housing equity while remaining in a familiar neighbourhood, says ERA’s Chu.

He also sees potential demand for two-bedroom units from singles who want to live near their parents in the surrounding landed estates. “This allows families to stay connected while maintaining their own living space,” he says.

Larger three- to five-bedroom apartments, meanwhile, are expected to attract families seeking more space, while investors could be drawn by the development’s MRT connectivity and rental potential.

Huttons’ Yip estimates that existing private homeowners could account for about 80% of buyers at Thomson Reserve, with HDB upgraders making up the remaining 20%.

Rising land costs put future prices in focus

Beyond the resale market, the outcome of a recent Government Land Sale (GLS) tender in the neighbourhood provides another reference point for Thomson Reserve’s pricing.

The Lorong Puntong–Sin Ming Avenue residential site attracted seven bids when its tender closed on Sept 15. Malaysian developer Eco World Development submitted the highest offer of $208.1 million, or $1,612 psf ppr.

“The Lorong Puntong–Sin Ming Avenue GLS site tender is particularly interesting, as it gives us a glimpse of what developers are prepared to pay for future residential supply in this neighbourhood,” says ERA’s Chu. At $1,612 psf ppr, Eco World’s bid was approximately 37% higher than the $1,178 psf ppr land rate for the former Thomson View site. “This does not mean future selling prices will be 37% higher,” Chu says. “It suggests that the replacement cost of new homes in the Thomson-Bishan area is rising.”

With prices starting from $2,608 psf and a broad mix of two- to five-bedroom homes, Thomson Reserve will test buyers’ willingness to pay for a new home in one of Singapore’s established residential enclaves. Its appeal rests on a combination of connectivity, spacious homes, and views of the surrounding greenery.

"The private residential market has remained resilient, with buyers continuing to prioritise launches that offer strong transport connectivity, access to good schools and other amenities," says UOL Group's Liam. "Thomson Reserve brings these qualities together in one address, with interest expected from buyers drawn to the area’s established character and our strong product positioning."

Check out the latest listings for Thomson Reserve properties