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Leedon Green: A Freehold Flagship in Prime District 10—Evidence, Context, and Strategy for Long-Horizon Investors

Leedon Green: A Freehold Flagship in Prime District 10—Evidence, Context, and Strategy for Long-Horizon Investors

By Zion Zhao | 狮家社小赵

In this essay, I aim to study Leedon Green deeply as I believe it is pivotal to assessing Skye at Holland through Comparative Market Analysis (CMA).  The project’s freehold tenure, 638-unit scale, 2023 completion, and CCR (D10) positioning, and I triangulate recent price bands, rental yields, and buyer mix. I also situate the development within Singapore’s evolving macro-financial backdrop, URA planning rules (including adjacency to Good Class Bungalow Areas), and the latest URA price index flashes. 

Without further ado, Leedon Green is a freehold flagship in Prime District 10, strategically located beside Good Class Bungalow Areas (GCBAs) and close to the Circle Line MRT and the UNESCO-listed Botanic Gardens. With its 638 residences, premium specifications, and adjacency to long-protected low-rise enclaves, it offers the scarcity value and enduring prestige that sophisticated investors seek.

Understanding Leedon Green is also pivotal to evaluating Skye at Holland. Through Comparative Market Analysis (CMA), we can benchmark land pricing, achieved transaction highs, rental yields, and buyer demographics. This enables investors to see relative value opportunities between a freehold CCR asset like Leedon Green and a 99-year identity-node project like Skye at Holland—ensuring informed decisions rather than speculative moves.












1) What Leedon Green is—and what sets it apart

A freehold, fully sold CCR address in a blue-chip micro-market. Developed by Asia Radiant Pte. Ltd.—a joint venture between MCL Land (Hongkong Land) and Yanlord Land Group—Leedon Green comprises 638 private homes across seven 12-storey blocks, located at Leedon Heights near Farrer Road and Holland Village on the Circle Line (CCL) (MCL Land; EdgeProp; developer materials). The project reached completion in 2023, with subsequent updates showing CSC obtained on the developer’s progress page (MCL Land, 2025). (EdgeProp, 2025; MCL Land, 2025). EdgePropmclland.com+1

Scale and specifications (as marketed and recorded). Land area ~29,423 sqm, GFA ~47,069 sqm, plot ratio 1.6, freehold (estate in fee simple), and 638 units ranging from compact 1-bedrooms to large 4-bedrooms and garden villas—consistent with CCR luxury norms and buyer preferences for variety (EdgeProp; selected developer summaries). (EdgeProp, 2025). EdgePropLee Done Green

“Green crescent” urbanism. The address sits in a prestigious band that arcs from Botanic Gardens (UNESCO World Heritage Site) to Holland Village and Dempsey, with adjacency to several URA-designated Good Class Bungalow Areas (GCBAs)—including Leedon Park and Holland Park—which provides an enduring low-rise context and land-use scarcity premium (UNESCO/NParks; URA). (UNESCO/NParks, 2015; URA, n.d.). Defaultwhc.unesco.orgUrban Redevelopment Authority

2) How we got here: from Tulip Garden to Leedon Green

The site was formerly Tulip Garden, sold via collective sale to Asia Radiant for S$906.9 million (2018/2019)—one of that cycle’s largest freehold CCR deals—confirming developer conviction in the location and tenure. Multiple mainstream outlets reported the transaction value and JV buyers (Colliers; TODAY; The Straits Times; Yahoo/Property media). (TODAY, 2018; The Straits Times, 2019; Yahoo News, 2019; SBR, 2018). TODAYThe Straits TimesYahoo FinanceSingapore Business Review

3) Connectivity, identity, and daily-life advantage

MRT access and network effects. The project is proximate to Farrer Road (CC20) and Holland Village (CC21) on the Circle Line, which reached its major completion milestone on 8 Oct 2011 (Stages 4–5). LTA notes the line will be a complete circle in 2026 with CCL6, further strengthening network resilience and optionality for residents and tenants (LTA; NLB; SGTrains/Land Transport Guru). (LTA, 2025; NLB, 2011; Land Transport Guru, 2017). Land Transport AuthorityNLBLand Transport Guru

Proximity to heritage and lifestyle anchors. The Singapore Botanic Gardens—inscribed as a UNESCO World Heritage Site in 2015—anchors the district’s amenity value and environmental quality (UNESCO decisions; NParks). (UNESCO, 2015; NParks, 2015). whc.unesco.orgDefault

Neighbouring low-rise protection. URA’s Good Class Bungalow Areas list includes Leedon Park and Holland Parkimmediately around the precinct, supporting a long-run urban form where high-rise supply is structurally constrained in the immediate environs (URA, n.d.). Urban Redevelopment Authority

4) Verified market performance and leasing tone

Sales evidence. Independent portals record freehold tenure, 2023 completion, and 638 units, with land/GFA metrics as above. Notably, new project record highs around S$3,475 psf were observed in 2024–2025 transactions, reflecting buyers’ willingness to pay for top stacks and larger formats (EdgeProp; market reports). (EdgeProp, 2025; Opalhauz/market collations, 2025). EdgeProp+1opalhauz.com.sg

Rental market. Typical 2-bedroom rents in mid-2025 hovered circa S$4,000–4,600 per month with larger formats transacting well into five figures—consistent with CCR leasing to professionals in the one-north/NUS/embassy belts and families seeking proximity to international schools. Your internal deck’s leasing snapshots and recent medians align with this observation. (Huttons report, 19 Aug 2025). 

Buyer composition. The buyer mix skews Singaporean and PR, with a material but not dominant overseas share—healthy for exit liquidity and policy resilience if foreign demand cycles soften. (Huttons report; EdgeProp). EdgeProp

5) Macro and policy backdrop (2024–2025): what disciplined investors should know

Prices and volumes. URA’s Q2 2025 flash estimate showed the private residential price index up 0.5% q/q (after +0.8% q/q in Q1), alongside a quarter-on-quarter fall in launch volumes—consistent with a market in policy-guided moderation rather than re-acceleration (URA, 1 July 2025; CBRE commentary). (URA, 2025; CBRE, 2025). Urban Redevelopment Authoritycbre.com.sg

Financial stability lenses. MAS’s Financial Stability Review 2024 highlights that household balance sheets remain sound and private housing price growth has eased, with rents also normalising from peaks—mitigating systemic risks even as rates and inflation dynamics evolve (MAS, 2024). BIS-hosted remarks (July 2025) by MAS Managing Director Chia Der Jiun further note subdued inflation and a gradual normalisation of policy settings into H2 2025—constructive for underwriting realistic rent and cap-rate paths (BIS/MAS, 2025). (MAS, 2024; BIS/MAS, 2025). Monetary Authority of SingaporeBank for International Settlements

Portfolio context. Decades of peer-reviewed research find that private real estate improves risk-adjusted returns in mixed-asset portfolios due to low correlation and income durability, with optimal long-run allocations often in the mid-teens depending on investor objectives and horizon (Hoesli, Lekander, & Witkiewicz, 2004; Eichholtz, 1996). These are not prescriptions but evidence-based starting points for strategic asset allocation. (Hoesli et al., 2004; Eichholtz, 1996). papers.ssrn.comtandfonline.com

6) Positioning Leedon Green in a comparative lens (CCR, freehold, GCBA adjacency)

Freehold + GCBA adjacency as defensiveness. In dense global cities, adjacency to protected low-rise enclaves (e.g., URA GCBAs such as Leedon Park and Holland Park) supports skyline quality, privacy, and supply scarcity—intangible attributes that often translate into price stickiness through cycles (URA, n.d.). For families and UHNW buyers, this micro-location “moat” can matter more than headline psf metrics alone. (URA, n.d.). Urban Redevelopment Authority

CCR rental demand stack. The corridor draws tenants from one-north/Biopolis, NUH/NUS, the embassy belt, and the Orchard/Tanglin corporate base—diverse demand anchors that historically dampen vacancy risk relative to single-industry precincts. Internal rental tables you compiled (1H–mid-2025) show price discovery consistent with these pools. (Huttons report). 

Transport certainty. The Circle Line is an established, automated backbone with the final loop connection due 2026, improving network resilience and shaving variance off journey times to the CBD and airport interchanges—useful to both occupiers and landlords (LTA, 2025). (LTA, 2025). Land Transport Authority

7) Risks and reconciliations—what investors should verify

  1. Marketing vs. legal specifics. While portals use rounded descriptors (“TOP 2023”; “638 units”), the Sale & Purchase Agreement and developer notices are definitive for any buyer’s timeline and specification. (MCL Land progress page). mclland.com

  2. Caveat reads vs. list prices. Recent record psf prints (e.g., ~S$3,475 psf) are point observations; use hedonic comparisons (level, stack, facing) and verify with URA REALIS caveats at time of underwriting (EdgeProp market reports). (EdgeProp, 2025). EdgeProp

  3. Macro drift. Even with MAS’s baseline of subdued inflation, shocks (rates, global growth, policy) can alter rent trajectories. Underwrite with buffers and avoid extrapolating peaks (MAS, 2024; BIS/MAS, 2025). (MAS, 2024; BIS/MAS, 2025). Monetary Authority of SingaporeBank for International Settlements

8) Practical takeaways for clients (education-only)

  • Who buys here? Predominantly Singaporeans/PRs with a stable foreign cohort—supportive for exit liquidity. (Huttons; EdgeProp). EdgeProp
  • What do they pay? Reported 12-month averages around the low-to-mid S$3,000 psf range, with a band ~S$2,600–3,400+ psf depending on format/stack, and notable record highs nearer S$3,475 psf (Jan–Mar 2024 and thereafter). (Your deck; EdgeProp). EdgeProp
  • What can it rent for? 2-BR mid-2025 medians ~S$4,000–4,600, with 4-BR outliers into five figures depending on finish, floor, and lease term. 
  • Why the location endures. Freehold in CCR, near UNESCO-listed Botanic Gardens, on the Circle Line, and bordered by GCBAs—a rare combination supporting long-term desirability and scarcity premiums (UNESCO/NParks; URA; LTA). (UNESCO/NParks, 2015; URA, n.d.; LTA, 2025). DefaultUrban Redevelopment AuthorityLand Transport Authority

9) Portfolio-construction lens (not advice)

Academic and practitioner literature repeatedly finds diversification benefits from including private/direct real estate in multi-asset portfolios, owing to income durability and lower correlation with public markets—particularly valuable to UHNW and institutional allocators seeking smoother return paths (Hoesli et al., 2004; Eichholtz, 1996). Singapore’s macro-prudential framework and MAS oversight have also historically tempered boom-bust amplitude, which is germane when considering freehold CCR exposure such as Leedon Green within a broader, risk-managed mandate (MAS, 2024). (Hoesli et al., 2004; Eichholtz, 1996; MAS, 2024). papers.ssrn.comtandfonline.comMonetary Authority of Singapore

10) Conclusion

Leedon Green combines freehold tenure, CCR adjacency to protected GCB enclaves, Circle Line access, and proximity to a UNESCO-listed green lung—an unusually robust quartet of fundamentals in land-scarce Singapore. Recent transaction evidence shows buyers will pay up for the best stacks/formats, while the rental market continues to draw depth from diversified white-collar demand nodes. For globally diversified families and institutions seeking stability with income, a disciplined allocation to assets with enduring locational moats—such as Leedon Green—can form a resilient, long-horizon core position when underwritten prudently. (EdgeProp, 2025; URA, 2025; MAS, 2024; UNESCO/NParks). EdgePropUrban Redevelopment AuthorityMonetary Authority of SingaporeDefault

🌏 Secure Your Wealth with Singapore’s Freehold Prime Real Estate

In today’s uncertain global climate, where equities and cryptocurrencies swing with macroeconomics, geopolitics, and policy cycles, one investment continues to deliver stability and long-term value: Singapore Real Estate.

As a Real Estate Agent based in Singapore, I combine rigorous knowledge in economics, global affairs, asset allocation, and portfolio management with years of experience as a seasoned equity and cryptocurrency trader. This unique vantage point allows me to advise my clients not only on property markets, but also on how real estate fits strategically within a global, multi-asset portfolio.

With my grounding in Singapore Land Law, Business Law, and statutory regulations, every recommendation I provide is backed by legal clarity and due diligence. As an Officer Commanding (OC) and Captain in the Singapore Armed Forces, I bring the values of discipline, foresight, and integrity into every client relationship.

Why Leedon Green Matters

Leedon Green is a freehold flagship in Prime District 10, strategically located beside Good Class Bungalow Areas (GCBAs) and close to the Circle Line MRT and the UNESCO-listed Botanic Gardens. With its 638 residences, premium specifications, and adjacency to long-protected low-rise enclaves, it offers the scarcity value and enduring prestige that sophisticated investors seek.

Understanding Leedon Green is also pivotal to evaluating Skye at Holland. Through Comparative Market Analysis (CMA), we can benchmark land pricing, achieved transaction highs, rental yields, and buyer demographics. This enables investors to see relative value opportunities between a freehold CCR asset like Leedon Green and a 99-year identity-node project like Skye at Holland—ensuring informed decisions rather than speculative moves.

My Value to You

  • 📚 Research & Dedication — Every day, I dedicate hours to writing detailed market essays and studying macroeconomic and property trends, so my clients benefit from insights backed by careful due diligence.

  • 🏡 Stability & Growth — While financial markets fluctuate, real estate provides a less volatile, income-generating, and appreciating asset class, delivering both rental yield (dividend-like income) and capital appreciation.

  • 🌐 Global Perspective for Global Investors — Whether you are an International investor, China Chinese family, Southeast Asian buyer, or institutional allocator, I connect global market foresight with Singapore’s trusted property ecosystem, guiding you to investments that preserve wealth and create legacies.

  • ⚖️ Legally Sound & Secure — With my legal and regulatory knowledge, every transaction is structured with clarity, ensuring your interests are always protected.

My Invitation

📌 Incorporate Singapore real estate into your portfolio today.
From Leedon Green’s freehold prestige to Skye at Holland’s identity-driven growth potential, I provide comparative insights that help you invest with foresight, stability, and confidence.

📞 Whether your goal is investment, immigration, family planning (陪读家长, 留学, 家办), or institutional allocation, I stand ready to guide you—professionally, humbly, and with unwavering commitment.



✨ Invest not just in property, but in foresight, discipline, and strategy. Together, let’s secure your future in Singapore real estate. 

References (APA)

BIS / Monetary Authority of Singapore. (2025, July 17). Remarks on the MAS Annual Report 2024/2025 (Chia Der Jiun). Bank for International Settlements. https://www.bis.org/ Bank for International Settlements

CBRE Singapore. (2025, July 1). Commentary on the Q2 2025 residential price index flash estimate. https://www.cbre.com.sg/ cbre.com.sg

EdgeProp. (2025). Leedon Green (project page—facts & transactions). https://www.edgeprop.sg/condo-apartment/leedon-green EdgeProp

EdgeProp. (2025, March 27). Leedon Green sets record high of $3,475 psf. https://www.edgeprop.sg/property-news/leedon-green-sets-record-high-3475-psf EdgeProp

Hoesli, M., Lekander, J., & Witkiewicz, W. (2004). International evidence on real estate as a portfolio diversifier. Journal of Real Estate Research, 26(2), 161–206. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=410741 papers.ssrn.com

Land Transport Authority (LTA). (2025, June 17). Circle Line. https://www.lta.gov.sg/ Land Transport Authority

Land Transport Guru. (2017). Farrer Road MRT Station (CC20). https://landtransportguru.net/farrer-road-station/Land Transport Guru

MCL Land. (2025). Leedon Green—Our masterpieces (project page). https://www.mclland.com/our-masterpieces/leedon-green-1 mclland.com

MCL Land. (2025, March 5). Leedon Green—Progress on site (CSC obtained). https://www.mclland.com/progress-on-site/leedon-green mclland.com

Monetary Authority of Singapore. (2024). Financial Stability Review 2024. https://www.mas.gov.sg/ Monetary Authority of Singapore

National Parks Board (NParks). (2015). Singapore Botanic Gardens—Singapore’s first UNESCO World Heritage Site. https://www.nparks.gov.sg/sbg Default

TODAY. (2018, April 12). Tulip Garden sold for S$906.9 million in second-largest en-bloc deal this year. https://www.todayonline.com/ TODAY

The Straits Times. (2019, Feb 1). Tulip Garden $907m collective sale to Yanlord, MCL wraps up successfully. https://www.straitstimes.com/ The Straits Times

Urban Redevelopment Authority (URA). (n.d.). Locational criteria for Good Class Bungalow Areas. https://www.ura.gov.sg/ Urban Redevelopment Authority

Urban Redevelopment Authority (URA). (2025, July 1). Release of flash estimate of 2nd Quarter 2025 private residential property price index. https://www.ura.gov.sg/ Urban Redevelopment Authority

UNESCO World Heritage Centre. (2015). Decision 39 COM 8B.17: Singapore Botanic Gardens. https://whc.unesco.org/ whc.unesco.org

UNESCO World Heritage Centre / NParks. (2015). Singapore Botanic Gardens (inscribed site page). https://whc.unesco.org/en/list/1483/ ; https://www.nparks.gov.sg/sbg whc.unesco.org

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