Twenty-six of the 33 units at Residences At Emerald Hill have been put up for sale by private treaty (Photo: JLL Singapore)
A portfolio of 26 freehold units at Residences At Emerald Hill has been put up for sale, with a total indicative value of about $180 million — spotlighting a rare opportunity in one of Singapore’s most tightly held enclaves.
Located just off the Somerset stretch of Orchard Road, Emerald Hill Road is known for its conservation shophouses, heritage charm and limited residential supply. The sale of the units at Residences At Emerald Hill comes amid renewed interest in prime Core Central Region (CCR) assets, where larger-format, freehold homes remain scarce.
Peranakan Place marks the entrance into Emerald Hill Road from Orchard Road (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Emerald Hill Road in prime District 9 is an eclectic mix of uses and ambience. At the lower end near Orchard Road, the conservation shophouses are primarily used for commercial purposes. No. 3 Emerald Hill Road — formerly home to antique shop One Price Store — has since closed, while neighbouring units house popular bars such as No. 5 Emerald Hill, Acid Bar, Alley Bar, Que Pasa and Ice Cold Beer.
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Adjacent to this cluster is the site of the former Chatsworth International School (Orchard Campus), which relocated in 2020. The property at 37 Emerald Hill Road — home to the Singapore Chinese Girls’ School from 1926 to 1994 — has been earmarked by URA for redevelopment into a mixed-use hub with hotels, community spaces and lifestyle offerings.
The property at 37 Emerald Hill Road — home to the Singapore Chinese Girls’ School from 1926 to 1994 — has been earmarked by URA for redevelopment into a mixed-use hub with hotels, community spaces and lifestyle offerings (Photo: Albert Chua/The Edge Singapore)
Farther up the street, the atmosphere becomes quieter and more residential. The Peranakan-style conservation shophouses evoke a bygone era of wealthy families and their mansions. They have also inspired local popular culture, including Stella Kon’s 1982 play Emily of Emerald Hill and the 2025 Chinese drama series Emerald Hill — The Little Nyonya Story.
The main entrance of Residences at Emerald Hill, the 33-unit freehold reesidential project developed by Lafe Corp, and completed in 2011 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
At the top of Emerald Hill Road sit several freehold boutique apartment developments, including the 40-unit 111 Emerald Hill Road and the neighbouring 33-unit Residences At Emerald Hill.
The latter is a redevelopment of the former Emerald Lodge, acquired for $45.2 million in 2006. The project comprises 29 apartments in a 12-storey block, along with four townhouses.
When Residences At Emerald Hill was launched in 2013, only seven units were sold between April 2013 and September 2014, based on caveats lodged.
The view of the townhouses and the 12-storey apartment block in the rear of Residences at Emerald Hill, which was dxesigned by Huay Architects (Photo: JLL Singapore)
This placed the developer under pressure from Singapore’s Qualifying Certificate (QC) rules, which require foreign developers to complete residential projects within five years of the land purchase and sell all units within seven years.
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Failure to meet these deadlines would result in extension charges of 8% in the first year, 16% in the second and 24% in the third, based on the proportion of unsold units.
In response, Rosy Yu Lo Si, wife of Lafe Corp executive chairman Christopher Ho, acquired five units between 2013 and 2014, followed by a bulk purchase of 21 units in September 2015 for $111.83 million, or an average of $1,780 psf. Today, all 26 units are held by Yu, a Singapore citizen.
View from the garden of the townhouses which overlook the shophouses and the low-rise apartment blocks along Emerald Hill Road (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Lafe Corp pivoted from manufacturing storage drives to real estate development and investment when it listed on the Singapore Exchange in 2000. The company was privatised by Ho in 2020.
While Lafe Corp no longer holds a direct stake in the development, Yu remains the majority owner. The firm also continues to be involved in the management corporation strata title council, ensuring ongoing investment in the maintenance and upgrading of facilities, common areas and the units that Yu owns.
“I believe that’s key,” says Manjit Gill, group managing director of Lafe Real Estate Group and The Whisky Trust Group. “It’s important that the owner still has skin in the game.”
The entrance leading to the basement carpark (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The basement carpark (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Designed by Huay Architects, with landscaping by Coen Design International, the Residences At Emerald Hill has been meticulously maintained over the years, retaining its original character.
“Our intention was to ensure that everything looks like it did when it was newly completed 15 years ago,” says Gill.
The apartments comprise three- and four-bedroom units ranging from 1,658 to 2,282 sq ft. Each unit features a private lift lobby, en suite bedrooms, American walnut timber flooring in bedrooms, marble flooring in living areas, and full- marble bathrooms.
There are also two duplex penthouses of up to 5,769 sq ft with five en suite bedrooms, as well as four townhouses fronting Emerald Hill Road. Each townhouse spans three storeys, with a total area of about 5,791 sq ft, and includes a private lift, rooftop lap pool and parking for three cars.
Aerial view of the rooftop of the townhouses with private lap pools, which are above the rooftops of the conservation shophouses and the rooftops of the apartment blocks across the road (Photo: JLL Singapore)
The landscaped walkway leading to the townhouses (Photo: JLL Singapore)
The living room of one of the four townhouses, where prices range from $11 million to $13.4 million (Photo: JLL Singapore)
The dining area and dry and wet kitchen of the townhouse with the rear door opening out to the swimming pool (Photo: JLL Singapore)
The full marble master bathroom of a townhouse (Photo: JLL Singapore)
JLL has been appointed the exclusive marketing agent for the portfolio, with a range of guide prices:
The units are priced at about $1,900 to $3,000 psf, says Nicholas Ng, JLL senior director of capital markets, Singapore. They are offered for sale by private treaty, and units may be sold individually, he adds.
The living room of the 2,282 sq ft four-bedroom plus study, where units for sale start from $6 million (Photo: JLL Singapore)
The study of the 2,282 sq ft four-bedroom plus study (Photo: JLL Singapore)
The kitchen of the four-bedroom unit (Photo: JLL Singapore)
The development has consistently enjoyed full occupancy, with most units tenanted, says Gill. Existing leases offer gross yields of around 2%, with potential for uplift upon renewal at prevailing market rates.
One of the townhouses, where a tenant is due to vacate, was previously leased at $18,500 a month. The next tenancy is expected to be around $23,000 a month.
“It is worth noting that these leases were pre-committed at post-Covid rates, which means incoming owners stand to benefit from a meaningful uplift in rental income upon renewal,” adds Gill.
The living area of the 5,769 sq ft, five-bedroom duplex penthouse (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The private lap pool on the roof terrace of the duplex penthouse of with a view of the city (Photo: JLL Singapore)
Ng believes the offering addresses a gap in the CCR for “generously sized units, low-density living and immediate availability”.
Units are elevated three storeys above ground, allowing those from the fifth floor upwards to enjoy unblocked views of the city skyline, surrounding greenery and Marina Bay Sands.
Facilities include a cigar room, gym, swimming pool, playground, outdoor deck for yoga and pilates, and landscaped entertainment areas. These have been progressively upgraded over the years.
“Many of the residents here are C-suite executives, and a number of them host year-end gatherings within the development,” says Gill.
The residents' lounge (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The residents' landscaped deck (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The sky garden at Residences At Emerald Hill, where landscaping is by Coen Design International (Photo: JLL Singapore)
The well-equipped gym (Photo: JLL Singapore)
The swimming pool of Residences At Emerald Hill sits between the row of townhouses and the 12-storey apartment block (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Recent CCR launches point to sustained demand from Singaporeans and permanent residents (PRs), even as foreigners face higher additional buyer’s stamp duty of 60%.
GuocoLand’s 99-year leasehold River Modern saw about 90% of its 455 units taken up at launch in March at an average price of $3,266 psf. Meanwhile, UOL Group and CapitaLand sold 99% of their 99-year leasehold, 666-unit Skye @ Holland at an average of $2,953 psf last October.
In late January, Newport Residences — a freehold mixed-use development in Tanjong Pagar — achieved 57% sales over its launch weekend at an average of $3,370 psf.
Against this backdrop, Residences At Emerald Hill offers a contrasting proposition, notes Ng — combining freehold tenure with larger-format units and immediate occupancy in a market where units in new launches are typically smaller and sold off-plan.
The 40-unit 111 Emerald Hill, adjacent to Residences at Emerald Hill (middle) was completed in 2011, while the Cairnhill condos nearby -- The Laurels, Urban Suites and Urban Resort Condominium were launched in 2010 and completed in 2013 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The neighbourhood around Emerald Hill Road has seen limited new residential supply in recent years. The last notable launch was the 44-unit freehold 8 Hullet, launched in 2018 and completed in 2022.
Next door — at 111 Emerald Hill, completed in 2011 — a 2,121 sq ft, three-bedroom unit fetched $5.1 million ($2,405 psf) in October 2025.
At Residences At Emerald Hill, the most recent resale transaction took place in August 2021, when a 1,658 sq ft unit was sold for $3.87 million ($2,335 psf), based on caveats lodged.
In the neighbouring Cairnhill area, most freehold projects — including the 165-unit Urban Suites, the 64-unit Urban Resort Condominium and the 229-unit The Laurels — were launched around 2010 and completed in 2013.
Nearby, the 99-year leasehold, 268-unit Cairnhill Nine (launched in 2016) saw a 743 sq ft unit sell for $1.75 million ($2,356 psf) in March. A larger 1,033 sq ft unit was sold for $2.65 million ($2,564 psf) during the same month.
It highlights supply constraints and how tightly held the broader precinct remains, says Ng.
Frasers Property recently secured the leasehold rear portion of The Centrepoint for $391.9 million ($2,577 psf ppr), and is expected to redevelop it together with the adjacent 51 Cuppage Road, which it fully owns (Photo: Samuel Isaac Chua/EdgeProp Singapore)
While Emerald Hill Road remains largely preserved as a conservation area, the surrounding Orchard–Somerset precinct is undergoing renewal.
Frasers Property recently secured the leasehold rear portion of The Centrepoint for $391.9 million ($2,577 psf ppr), and is expected to redevelop it together with the adjacent 51 Cuppage Road, which it fully owns.
“Any new development activity in the Orchard-Somerset corridor is positive for the neighbourhood as a whole,” says Ng.
A planned 6km green corridor linking the Singapore Botanic Gardens, the Istana, Fort Canning Park and the Singapore River is also expected to enhance the area’s liveability.
A planned 6km green corridor linking the Singapore Botanic Gardens, the Istana, Fort Canning Park (pictured above) and the Singapore River is also expected to enhance the area’s liveability. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Ng expects the launch to draw interest from Singaporeans and PRs, particularly those seeking a legacy property in a historic district.
“In times of uncertainty, quality real estate — especially freehold homes in prime locations — has historically proven to be resilient,” he says.
JLL’s Nicholas Ng: In times of uncertainty, quality real estate — especially freehold homes in prime locations — has historically proven to be resilient (Phoro: Samuel Isaac Chua/EdgeProp Singapore)
“Over the long term, Singapore’s property market has demonstrated its ability to hold value through global headwinds, whether that was the Global Financial Crisis, Covid-19 or periods of geopolitical tension.”
In such conditions, capital tends to gravitate towards “tangible, safe-haven assets”, he adds.
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