Tembusu Grand Review: The Almost-Finished Launch at ~$2,446 PSF

Tembusu Grand is a buy for the buyer who wants certainty over a lottery ticket — someone who would rather see the finished home and move into Katong soon than gamble on a cheaper launch that only exists on paper. Its case is not tenure, and it is not a launch discount. Its case is timing.

Almost every rival in this roundup is sold off a showflat with completion years away. Tembusu Grand topped out and reached TOP in December 2025, so the two things that quietly sink new-launch buyers — construction risk and the long financing drag — are largely behind it. The towers are up, the actual units and views are real, and the neighbourhood you are buying into is the one you can walk today, not a masterplan render.

The pricing is reasonable for what it is. Across 635 developer-sale caveats, Tembusu Grand is transacting at about $2,446 psf (a median unit near $2.29M) — roughly 29% above District 15's median resale. That is a far gentler premium than the freehold launches next door: it sits ~$580–760 psf below Meyer Blue ($3,206) and Amber House ($3,060), and undercuts even the leasehold heavyweights Grand Dunman ($2,528) and Emerald of Katong ($2,628). You are not paying top dollar for the privilege of a finished building.

So the verdict turns on what you value. If you want to inspect the real product, avoid years of interim housing, and be in Katong within months, Tembusu Grand is one of the few launches that lets you do it — and it is priced sensibly against its peers. If you are hunting the earliest first-mover discount, you have largely missed it: with 635 of 638 units already spoken for, the launch upside has mostly been priced in. Buy this one for the certainty, not the speculation.

This review shows the full workings. For the market-wide picture, see our roundup of every 2026 new launch benchmarked against resale. You can also browse every 2026 launch in the Singapore new launches directory.

Two of these figures deserve a note. The developer, tenure, site area, unit mix and completion are taken from Tembusu Grand's own launch materials and CDL's construction updates, not our automated directory — the directory's completion field is unreliable for this site, which was redeveloped from the former Euro-Asia Apartments. The brochure lists an expected vacant-possession date of 31 October 2028, but that is a contractual outside-date; in practice the project reached TOP roughly three years early, at the end of 2025. The pricing is our own, computed from URA developer-sale caveats.

This is the whole point of Tembusu Grand, so it is worth being concrete. A typical 2026 launch is a forward sale: you commit at today's price to a building that is one to five years from existing. Three things follow from that gap, and reaching TOP quietly removes all three.

You see the real product, not a proxy. At a normal launch you judge a scale model, a showflat and a floor plan. Here the towers are finished — you can stand in an actual unit, see the true ceiling height and light, check the real outlook from your stack, and walk the actual grounds instead of trusting an artist's impression. The gap between what you were sold and what you get is essentially closed.

Construction-and-delivery risk is gone. Every off-plan buyer carries a tail risk that the building is late, the developer stumbles, or the finished product disappoints. A completed project has already cleared those hurdles: the towers stand, the TOP is issued, and the keys are collectible. What you inspect is what you own.

The financing drag is nearly over. New launches are sold on the Progressive Payment Scheme, where your loan — and the interest on it — ramps up in stages as construction hits milestones, often while you are still paying to live somewhere else. Because Tembusu Grand is complete, that ramp is essentially finished: you move toward full drawdown and can occupy or rent the home now, rather than funding an empty building site for years. If you are weighing that cash-flow difference against a still-unbuilt rival, read how the progressive payment scheme actually bills you.

The trade-off is the mirror image: much of the first-mover upside — buying early and cheap before a project is proven — is already in the rear-view mirror here. That tension is the real Tembusu Grand decision, and the rest of this review prices both sides of it.

Across the 635 developer-sale caveats lodged so far, Tembusu Grand's median is about $2,446 psf, with most units transacting between roughly $2,388 and $2,522 psf (the middle-half range). The median price works out to about $2.29M — a genuinely broad entry, from sub-$1.4M one-bedders to $4M-plus large formats.

The pattern here is the normal one, and it is worth seeing because it is the opposite of the boutique freehold launches nearby. At Tembusu Grand the smaller units carry the higher PSF — the studios and one-bedders sit around $2,511–$2,534 psf, while the three- and four-bedders ease down to about $2,402–$2,403 psf. That is the classic large-format discount: bigger quantums are harder to sell, so the per-square-foot price steps down as size goes up. The practical read is the reverse of a boutique project — if you want the lowest PSF, the larger units are where the value sits; if you want the lowest cash outlay, the compact units do it, but you pay up per square foot for the small quantum. To think through that trade cleanly, see quantum vs PSF when buying a condo.

The unit mix behind those bands is the widest in this roundup. The 638 homes run from 1-bedroom + study (from ~527 sq ft) to 5-bedroom layouts and two 5-bedroom penthouses (~2,691 sq ft), across four towers of 20 and 21 storeys, with 2-, 3- and 4-bedroom formats in between — so entry points span sub-$1.4M compact units (the natural rental stock) to $4M-plus family and own-stay homes fitted with the full Miele and Liebherr kitchen package. One quiet advantage of buying a finished project: the size, layout and outlook you are quoted are the ones you actually get — there is no re-survey surprise between showflat and handover, because you can measure the real unit. (The bedroom labels in the table are size proxies reconstructed from caveats; the mix above is the developer's.)

On paper, Tembusu Grand's ~29% premium over District 15's median resale (~$1,894 psf, from 1,830 resale caveats) is real — but it is also the mildest premium you will find among the launches here, and it is not a fair fight anyway. A brand-new, just-completed condo is being compared to a district-wide pool of older, mostly leasehold, lived-in resale stock on shorter remaining leases. Some premium is simply the price of new. The 29% figure is modest precisely because that is a 99-year, mass-scale product, not a boutique or freehold one.

The sharper benchmark is the launches a buyer would actually cross-shop:

Read against its peers, Tembusu Grand ($2,446 psf) is the cheapest launch on this board — below the freehold pair Meyer Blue ($3,206) and Amber House ($3,060), and below the leasehold heavyweights Grand Dunman ($2,528) and Emerald of Katong (~$2,628) that sit in the same Dunman–Katong stretch. The freehold gap of roughly $580–760 psf is the price of perpetual tenure; the smaller gap to the leasehold rivals reflects timing, scale and site. None of this is evidence of overpricing — it is a reasonably priced 99-year launch whose one unusual feature is that it is finished. Whether the leasehold-versus-freehold trade is right for you is worked through in freehold vs leasehold condo and, on premiums generally, how much a new-launch premium should be. The Business Times has flagged emerging price ceilings as more supply arrives — worth weighing before assuming any launch premium keeps climbing.

Tembusu Grand sits on Jalan Tembusu, off Tanjong Katong Road, in the heart of District 15's East Coast belt — and because the project is already built, this is not a location you have to imagine from a map. It is one you can walk through before you commit, which is the point.

The address is a mature, established one. You are minutes from the Katong / Joo Chiat heritage food belt, the Peranakan shophouses of East Coast Road, and a dense cluster of malls — i12 Katong, Parkway Parade, PLQ Mall and Kinex. East Coast Park and the Singapore Sports Hub are about a 5-minute drive, the CBD and Marina Bay Sands roughly 10 minutes, and Changi Airport around 12. Families get one of Singapore's strongest school clusters on the doorstep — Tanjong Katong Primary, Tanjong Katong Girls', Kong Hwa, Chung Cheng High and Haig Girls' among them.

The connectivity upgrade that underpins the location is the Thomson–East Coast Line: the future Tanjong Katong MRT station is about an 8-minute walk away, finally giving this stretch of Katong a rail link it historically lacked. Note the honest caveat — as of the developer's materials that station was under construction, so it is a near-term benefit you should verify is open before you rely on it for a daily commute. What is not in doubt is the rest: this is a genuine, lived-in own-stay location, and unlike a frontier launch you are not betting on a neighbourhood that has yet to be built.

Tembusu Grand has essentially never been resold — the developer sale is only just wrapping up and the earliest sub-sales are only now appearing — so there is no project resale track record to quote, and anyone promising you a return is guessing. What we can do is give you the honest proxy: how comparable homes in its market segment have actually performed. Tembusu Grand is an RCR (city-fringe) project, and across matched RCR resale pairs, 86.4% sold above their purchase price, with a median gross gain of 24.8%.

Treat that as a base rate, not a forecast, and remember it is gross — before commission, stamp duties, any Seller's Stamp Duty and loan interest. Two things are specific to Tembusu Grand. First, being complete, it is the earliest project in this roundup where a real resale signal will actually form — the first sub-sales and resales here are the market's live verdict, not a projection, so watch them. Second, it is 99-year leasehold: over a long hold the lease clock does erode value in a way freehold does not, which is the trade you accept for the gentler entry price. On rental, the location does the heavy lifting — a mature Katong address near the Thomson–East Coast Line, East Coast Park and a strong school belt supports steady tenant demand — but rental returns depend on your exact purchase price and unit, so we point you to the numbers rather than quote a headline figure. To pressure-test a specific unit against your own holding period and costs, run it through the PropKaki profitability model, and read how to tell if a property will be profitable.

What a finished building takes off the table:

• Already built (TOP December 2025) — you inspect the real unit, construction risk is gone, and you can move in or rent within months, not years.
• The mildest premium in the roundup — ~$2,446 psf, ~29% over district resale, well below every freehold and mega rival nearby.
• A mature, walkable Katong address — the East Coast food belt, i12 Katong and Parkway Parade, a strong school cluster, and East Coast Park all a short hop away.
• A near-closed financing ramp — the progressive-payment drag is essentially over, so you are not funding an empty site for years.
• The widest unit range here — from ~527 sq ft one-bedders to 5-bedroom penthouses, so entry points span sub-$1.4M to $4M-plus.

The trade-offs are the flip side of buying late and leasehold:

• Little first-mover upside left — with 635 of 638 units already sold, the early launch discount is largely priced in.
• 99-year tenure among freehold rivals — Meyer Blue and Amber House are freehold; over a long hold, lease decay is the cost of Tembusu Grand's cheaper entry.
• A large, dense project — 638 units across four towers is a busier, less exclusive setting than a boutique block.
• A near-term MRT you must verify — the Tanjong Katong TEL station was under construction in the developer's materials; confirm it has opened.

The buyer it fits: buyers who want to see the finished product before committing, own-stayers who want to be in Katong soon, and families who value the school belt and a sensible entry price over freehold status. Keep looking if: you are chasing the earliest launch discount, you specifically want freehold, or you want a small, exclusive development. For a head-to-head against a rival, use our two-project comparison scorecard.

Yes. Per CDL's construction updates, Tembusu Grand obtained its Temporary Occupation Permit (TOP) in December 2025 — meaning the building is complete and keys are collectible. That is well ahead of the 31 October 2028 expected vacant-possession date stated in its brochure, which is a contractual outside-date rather than the actual completion. Being finished is Tembusu Grand's defining feature versus the mostly off-plan launches around it.

Based on 635 URA developer-sale caveats, Tembusu Grand's indicative pricing is about $2,446 psf (median unit ~$2.29M), with most units between $2,388 and $2,522 psf. Entry ranges widely: compact one-bedders sit near $1.34M while larger formats run past $4M. Pricing is a live snapshot from caveats lodged so far and moves as the last units transact.

Tembusu Grand is 99-year leasehold, with the lease commencing 25 April 2022, developed by CDL and MCL Land. That is the key difference from its freehold District 15 rivals Meyer Blue and Amber House: Tembusu Grand's lease clock is running, which is part of why its ~$2,446 psf entry undercuts theirs by roughly $580–760 psf. Over a long hold, that leasehold status is the trade you accept for the lower entry price.

Where the figures come from. Tembusu Grand's indicative pricing is the median of 635 URA developer-sale caveats flagged New Sale for the project (window 7 April 2023 to 20 April 2026), from PropKaki's own transaction data. The ~29% premium compares that to the median PSF of Resale caveats in District 15 over the last ~18 months (1,830 caveats). The comparable-launch PSFs are the medians of each rival project's own New-Sale caveats over the last ~30 months. The 86.4% segment resale odds and 24.8% median gross gain are RCR matched buy→sell pairs from PropKaki's profitability model. Developer, tenure, site area, unit mix and completion status are from Tembusu Grand's official launch materials and CDL's construction updates — not our directory, whose completion field is unreliable for this redeveloped (former Euro-Asia Apartments) site. The TOP-obtained December 2025 status is per CDL's published construction progress; the 31 October 2028 date is the brochure's contractual expected vacant possession. External context on supply and price ceilings is cited inline from The Business Times.

What we did not do, and did not claim. This is a data and desktop analysis, not a showflat or site visit — we have not toured the units or verified finishes in person, even though the project is complete. Indicative PSF is a dated snapshot that moves as the final units sell; PSF is price ÷ area, so a median shifts with which units transact. The resale benchmark is a District 15 median, not a unit-matched valuation, and resale stock is older and on shorter leases, so some launch premium is expected and is not proof of overpricing. Segment profit odds are gross (before commission, stamp duties, any SSD and interest) and are a base rate, not a forecast — Tembusu Grand has essentially no resale history of its own yet. We quote no rental-yield figure; rental returns depend on your exact unit and price, so we point you to the model instead. Nothing here is financial advice; verify current rules, the MRT opening, and figures with URA, IRAS and HDB.