Executive condominiums (ECs) in Tengah continue to attract strong interest. The latest, Otto Place by joint developers Hoi Hup Realty and Sunway Developments, saw 351 out of 600 units (58.5%) sold on its launch day, according to a media statement issued at 6.30pm on July 19.
The average price of units sold under the Normal Payment Scheme (NPS) was $1,700 psf. About 72% of buyers opted for the Deferred Payment Scheme (DPS), which came with a 3% premium over NPS prices.
Three-bedroom deluxe units were priced from $1.41 million ($1,617 psf) [Photo: Hoi Hup/Sunway Developments]
Popularity with HDB upgraders
“The DPS is popular as it allows homebuyers to make a purchase first and save up during the construction period. It also helps ease the financial burden for HDB upgraders who may still have an outstanding loan on their flat,” says Mark Yip, CEO of Huttons Asia.
Otto Place offers unit sizes ranging from 872 sq ft for three-bedroom deluxe types — priced from $1.41 million ($1,617 psf) — to 1,195 sq ft for four-bedroom plus study luxury types, which fetched $2.18 million ($1,824 psf).
According to Huttons, the larger units, such as three-bedroom luxury and four-bedroom types, were especially popular, with more than 70% sold. “These were probably bought by HDB upgraders seeking more space and flexibility,” Yip adds.
The 504-unit Novo Place EC, launched last November, was fully sold in early July, just eight months later (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Follow-up to Novo Place
Otto Place is located in the Plantation District of Tengah — Singapore’s first eco-friendly and car-lite new town. Like its neighbouring project Novo Place, the development is within walking distance of two MRT stations — Tengah Park and Bukit Batok West — on the upcoming Jurong Region Line.
It is also within 1km of Princess Elizabeth Primary School, one of the three most oversubscribed schools in 2025, and close to several other primary and secondary schools. The site is within 2km of Anglo-Chinese School (Primary), which is scheduled to open in 2030.
Otto Place’s launch follows the success of Novo Place, a 504-unit EC next door, also developed by Hoi Hup and Sunway. Launched in November 2024, Novo Place sold 286 units (57%) on launch day at an average price of $1,654 psf.
In early July 2025, the final unit at Novo Place was sold, and the project achieved a sell-out status just eight months after its launch.
“ECs offer compelling value, and the opportunity to own a private home in one of Singapore’s newest residential estates gives buyers a strong long-term upside strategy,” comments Koon Wai Leong, general manager of Hoi Hup Realty.
The 10 latest transactions at Novo Place executive condo
Source: EdgeProp Buddy
Third EC launch in Tengah
The first EC in Tengah was launched in October 2022. It was the launch of Copen Grand, a 639-unit development by City Developments Ltd (CDL) and MCL Land. The project sold 73% of units on launch day at an average price of $1,300 psf, with DPS buyers paying a 3% premium.
When the e-application for second-timers opened in November 2022, the remaining 146 units were snapped up within a few hours, resulting in Copen Grand being fully sold out within a month. Transacted prices ranged from $1.09 million for a two-bedroom plus study unit to $2.17 million for a five-bedroom premium unit.
“Otto Place marks the third EC launch in Tengah since 2022, highlighting the continued popularity of such developments in this emerging estate,” says Marcus Chu, CEO of ERA Singapore.
Otto Place is located next door to Novo Place, and it’s also within walking distance of two MRT Stations — Tengah Park and Bukit Batok West (Source: EdgeProp Landlens)
Higher quota for second-timers?
In an EC launch, 70% of the units are allocated to first-time buyers, while the remaining 30% are allocated to second-time HDB buyers. However, second-timers who were unsuccessful at launch will have another opportunity when e-booking opens on August 19.
According to PropNex CEO Kelvin Fong, the 30% quota for second-timers at Otto Place was reached on the first day of launch. He believes ECs will remain “a top favourite” among homebuyers due to their relative affordability compared to new 99-year leasehold private condos in the Outside Central Region (OCR).
PropNex research shows that in 1H2025, the median transacted unit price for new 99-year leasehold non-landed private homes in the OCR (excluding ECs) was $2,343 psf — 33% higher than the $1,756 psf median for new ECs during the same period, based on caveats lodged.
“The government should consider increasing the quota for second-time HDB buyers to 50%, to support the sandwiched class who want to upgrade to an EC,” suggests Huttons’ Yip.
