Wynwood Grand

The research read

Wynwood Grand is a planned Executive Condominium of roughly 420 to 430 units (est.), at Woodlands Drive 17 in District 25. The lease is 99 years. An Executive Condominium, or EC, is a home built privately but sold under HDB rules for its first ten years. The developer is CDL Divine Pte Ltd, part of City Developments Limited. The site was won at an HDB tender in August 2025 for $360.9 million, or $782 psf ppr. Preview is targeted for Q4 2026 (est.), with keys around 2031 (est.).

Two things put this launch in a category almost no other EC is still in. The tender closed before 8 May 2026, so the project keeps the old EC rulebook. That means a five-year minimum stay rather than ten. Full private status comes at ten years rather than fifteen, and the Deferred Payment Scheme is still on the table. Only five EC projects in the country still carry those terms. Second, this is the first new EC in Woodlands since Northwave, back in 2016. It arrives in an estate where a large pool of flats has already cleared its own five-year stay.

A policy window closes. A record land price does not go away. Three things are worth settling before preview. What does $782 psf ppr force the developer to charge? Does the borrowing cap let an income-capped household reach that price? And what happens when a second, larger EC opens on the same street?

What a record EC land price means for the price list

At $782 psf ppr, this was the highest rate ever paid for an EC site at the time of award. CDL edged the second bid by a single dollar per plot ratio, across five bids. The record did not survive five months. The plot next door went to Sim Lian in January 2026 at $794 psf ppr, and is now named Clovelle of Woodlands. The ladder below places both against every EC land award that frames this launch.

Land is one line in the cost stack. Add construction, finance, professional fees and marketing to the $782 psf ppr land cost. That gives an estimated breakeven of about $1,595 psf ppr. We then apply the 1.15–1.30 margin band we use on every project on this site. That gives an indicative launch range of $1,830–$2,070 psf. The full working is in our pricing methodology. Note which direction a record land cost pushes. It raises the floor under the launch price. It does not raise the ceiling over it. A developer who paid $782 has very little room to cut the price. That limits what the buyer pays. It says nothing about the exit.

A second, separate check comes from recent EC launches at similar land costs. Rivelle in Tampines was awarded at $768 psf ppr, and launched in March 2026 at an average of $1,893 psf. That is about 2.47 times its land cost. Coastal Cabana in Pasir Ris was awarded at $729, and launched in January 2026 at $1,734, or about 2.38 times. Apply that observed 2.38 to 2.47 band to $782 and you get roughly $1,860 to $1,930 psf. That sits in the lower half of our modelled range rather than at the top of it.

Why the old EC rulebook still applies here

On 8 May 2026 the Ministry of National Development announced the largest EC reset since 2013. The minimum stay doubled from 5 to 10 years. Full private status moved from 10 years to 15 as well. The Deferred Payment Scheme was abolished. The share of homes set aside for first-time buyers rose from 70% toward 90%, with a longer wait for the rest. The measures apply only to EC state land sites whose tenders closed on or after 8 May 2026, and they are not backdated.

Five pipeline EC projects were named as exempt, because their tenders had already closed. They are Senja Close, Sembawang Road, Miltonia Close, and both Woodlands Drive 17 plots. This is the correction most worth making, because it is widely reported the other way round. The neighbouring Sim Lian site, Clovelle of Woodlands (about 570 units), is not a new-rules project. Its tender closed on 13 January 2026, four months before the cutoff. It carries the same five-year stay and the same Deferred Payment Scheme as this one. Anyone comparing the two plots on rulebook grounds is comparing a difference that does not exist. The Clovelle of Woodlands appointed developer sales website tracks that project's own timeline. Our wider write-up of the reset is in our analysis of the 2026 EC framework.

So what the exemption is genuinely worth is not an advantage over the neighbour. It is an advantage over every EC that comes after both of them. A buyer here reaches a first resale window around 2036 (est.), and full private status around 2041 (est.). A buyer at a Canberra Drive or Sembawang Drive EC would wait until roughly 2041 and 2046, on equivalent build timelines. The second-timer allocation is the sharper edge. This site sets aside 30% of units for second-timers. Later launches will offer roughly 10%, with a two-year wait afterwards. That is why second-timer demand is expected to concentrate on this shrinking group of launches.

Getting around Woodlands

• Woodlands South (TE3), about a 5-minute walk (est.) — verify with OneMap. Operational since January 2020 on the Thomson-East Coast Line. This is a working station, not a committed future one, and it carries a one-seat ride to Orchard, Marina Bay and Sungei Bedok with no interchange.
• Woodlands (NS9/TE2), one TEL stop north. The North-South Line interchange, Causeway Point, Woods Square and the bus interchange. Treat this as one stop rather than a walk — on foot it is roughly 25 minutes, which is not a realistic daily connection.
• Woodlands North (TE1), two TEL stops. The Singapore terminus of the Johor Bahru–Singapore RTS Link, a 4km cross-border shuttle to Bukit Chagar with co-located immigration and a five-minute journey.
• By road, the site sits between the Bukit Timah Expressway and the Seletar Expressway, with onward access to the PIE. Woodlands Checkpoint is immediately north and is undergoing a multi-phase redevelopment announced by ICA and SLA.

The RTS Link needs careful language. LTA states that passenger service is targeted for the end of 2026, with systems testing from around September 2026. Some reporting flags slippage into early 2027. As at August 2026 the transport ministers of both countries had still to announce the fare and the opening date together. Treat it as a dated target, not a delivered asset.

The test that matters is what holds if it slips. If the RTS Link opens a year late, the commute case here is unaffected. Woodlands South has been running for six years, and carries the daily journey on its own. The cross-border link is extra, layered on top. A page that made it the foundation would be selling a timetable rather than a location.

The Woodlands Regional Centre build-out

• Woodlands Regional Centre. URA-designated, roughly 100ha across two precincts, planned as the largest commercial node outside the city centre. Woods Square is the delivered first instalment rather than a rendering.
• The RTS Link (targeted end-2026). The one dated rail catalyst, with the terminus two TEL stops away.
• Johor–Singapore Special Economic Zone. Formally established in January 2025, giving the cross-border employment story a signed framework rather than an aspiration.
• Woodlands Health Campus. Operational since December 2023, immediately adjacent — an employment node that exists today.
• Woodlands Checkpoint redevelopment. Announced by ICA and SLA in June 2025, phased over an estimated 10–15 years, aimed at cutting peak clearance times materially.

By Singapore standards this is a genuinely dense catalyst list. It is denser than most launches outside the central region can claim, because three of the five are already built or signed. The care needed here is about timing, not about whether the items are real. The Regional Centre’s office build-out runs over a decade. The checkpoint rebuild is measured in phases stretching past 2035. A buyer on a ten-year view is backing the early part of that, not the end of it.

Schools: an unusually comfortable catchment

On our own schools dataset, three primary schools sit within 1km radius of the development. They are Innova Primary at about 0.39km, Woodgrove Primary at about 0.79km and Si Ling Primary at about 0.99km. In the 1–2km band sit Woodlands Primary (1.20km), Woodlands Ring Primary (1.23km), Fuchun Primary (1.57km) and Qihua Primary (1.84km). These are straight-line distances taken from OneMap map data. MOE measures priority on its own basis, from a specific registered address. Confirm the current band on MOE SchoolFinder before you rely on it.

The ballot record here is unusually comfortable. It is worth stating plainly, because it runs opposite to the pattern at most new launches. In the 2025 Primary 1 exercise, none of the three schools within 1km had to ballot at Phase 2C. Phase 2C is the stage for applicants with no family connection there. Innova Primary took 77 applicants against 105 places. Si Ling Primary took 26 against 118. Woodgrove Primary took 87 against 98.

Being inside the band gets a family into that ballot. It does not win it. But at these three schools in 2025, there was no ballot to win. That is a real advantage over a Bishan or Bukit Timah address. It is also a signal about demand, and a buyer should read it both ways. How this plays out across launches generally is covered in primary schools and new launch demand.

Beyond schools, Causeway Point is one of the largest OCR (Outside Central Region) malls in Singapore, one Thomson-East Coast Line stop away. Woodlands Health Campus and the Singapore Sports School are within walking distance. The tender also required a wellness-oriented design, tied to the NParks Woodlands Healing Garden next door. The tender required it, so it is not a marketing claim.

Renting out an EC: what actually applies

This is the section EC marketing skips, and for an EC it needs a rules note first. During the five-year minimum stay, an owner may not rent out the whole unit. They may not buy another home either. So any rental case here begins in roughly 2036 (est.), not when the keys arrive.

When it does begin, the sums are modest. Copen Grand is CDL’s Tengah EC, completed in 2025. On our dataset it shows an average rent of about $3.87 psf a month, against an average value of $1,341 psf. That implies a gross yield near 2.7%. Provence Residence in Sembawang runs about $4.00 psf against $1,182 psf, near 3.0%. District 25’s older condos rent in a $3.36 to $4.71 psf band.

A unit bought at $1,830–$2,070 psf lets into that same corridor. So the starting gross yield would be well below any of those comparisons. It falls again after the higher non-owner-occupied property tax, maintenance and a month of empty weeks. The case here, if there is one, rests on the policy window and the dated catalyst list. It does not rest on rental income. Anyone buying mainly for income should run their own entry price through our new launch ROI calculator rather than lean on a corridor average.

Who this EC is for

Four kinds of buyer fit. Woodlands and Marsiling upgraders whose flats have cleared their five-year stay. They want to stay inside a school and community network they already use. Second-timer households. At any EC launched after this batch they would face a roughly 10% share, and a two-year wait. Families for whom three easy primary schools inside 1km will shape the next decade. And owners who will live there, and hold through a 2031 completion and a 2036 resale window.

It does not suit a buyer who needs rental income, or a second home, inside the next decade. Both are barred until the five-year stay clears. Nor does it suit the household whose budget is entirely HDB sale proceeds with no cash or CPF behind it. As the financing section below shows, the borrowing cap decides who can reach this, not the income ceiling. And at this price it bites hard.

Income ceiling, borrowing cap and the cash you need

EC eligibility as at August 2026 requires a household gross income within $16,000 a month. You need at least one Singapore Citizen, in a family nucleus of two citizens or a citizen and a permanent resident. You must own no other home, or have sold one within the previous 30 months. There is no Additional Buyer’s Stamp Duty on a direct EC purchase from the developer. That holds provided you sell an existing flat within six months of taking possession. Buyer’s Stamp Duty applies on the tiered scale. Verify all of it at HDB.gov.sg. Rules change, and this page is research, not advice.

The binding constraint is the Mortgage Servicing Ratio. On an EC bought from a developer, your home loan repayment is capped at 30% of gross monthly household income. The test uses a 4% interest rate. That is much stricter than the 55% cap that governs private condos. So this is the ratio that decides the purchase.

Work it through at the income ceiling. A household on $16,000 a month has $4,800 of room. At a 4% stress rate over 25 years, that services a loan of roughly $909,000. Against a three-bedroom at the indicative range, the downpayment then lands closer to half the price than to the legal minimum of 25%. That gap is normally bridged with cash and CPF released from an HDB sale. So work out what cash you have before preview. Do not assume the downpayment maths of a private condo. Run the numbers in our affordability calculator and stamp duty calculator, and read our TDSR and MSR guide.

Progressive payments follow the standard shape for a building not yet built. You pay 5% cash on booking, then 15% plus Buyer’s Stamp Duty at exercise, roughly nine weeks later. After that, payments are staged against construction milestones, with the balance at completion. This site also keeps the Deferred Payment Scheme as an alternative. That matters most to an upgrader still carrying an HDB mortgage. Our guide to selling an HDB to buy a new launch covers the order of events. The progressive payment calculator models the cash profile. The concrete step before preview is an in-principle approval, so you know which unit types you can reach instead of guessing. Test the repayment at a rate above today’s, not at today’s.

The risks in an EC at a record land price

These are the trade-offs an EC buyer should price in here. Each comes with the argument that runs the other way.

• HighMSR headroom falls short of the entry quantumAt the $16,000 income ceiling, a 30% MSR stress-tested at 4% supports a loan near $909,000 — against a three-bedroom priced off a $1,830–$2,070 psf range, that is roughly half the purchase price, not the 25% a 75% LTV implies. The mitigant is real but conditional: HDB sale proceeds and CPF typically close the gap for a genuine upgrader, and smaller three-bedroom stacks sit at the bottom of the range. It is not closed by a payment schedule, and it should be checked against actual flat equity before preview.
• ModerateAround 990 EC units on one streetThis project's ~420–430 units (est.) and the ~570 at Clovelle of Woodlands, the adjacent Sim Lian parcel, will compete for the same upgrader pool, with the neighbour targeted for a Q2 2027 preview (est.). The mitigant is sequencing rather than rules — both carry identical old-rules terms — so the genuine edge is launching first, at $782 against $794 psf ppr, with first pick of stacks.
• ModerateRecord land cost sets a high floor$782 psf ppr was the highest EC rate ever paid at award, and it flows directly into the highest EC entry quantum the segment has seen. The mitigant is the observed 2.38–2.47× land-to-launch multiple at Coastal Cabana and Rivelle, which implies pricing nearer $1,860–$1,930 psf than the top of our range — and Norwood Grand across the road at about $2,079 psf shows what the same street already supports.
• ModerateDistrict 25's realised returns are below the national pictureOn our own dataset, 1,240 matched buy-and-sell exits across seven District 25 projects show 79.0% profitable, against 87.3% across 149,329 exits islandwide. The mitigant is that none of those projects had an operational TEL station, a Regional Centre designation or a cross-border rail terminus two stops away when they were bought — but the base rate is a useful discipline against transformation euphoria.
• ModerateConstruction next door through early occupancyThe adjacent EC was awarded in January 2026 and will very likely still be building when this project's buyers move in around 2031. Temporary, and it resolves before a typical ten-year hold matures, but it is a real condition of the first years rather than a footnote.
• LowMOP illiquidityNo whole-unit rental, no second residential purchase and no resale for five years after TOP — so roughly 2036 (est.) before any exit exists. The mitigant is that five years is now the shortest MOP available anywhere in the EC segment, and it is disclosed at eligibility screening rather than discovered later.

What to watch before preview

1. Jan 2020Woodlands South (TE3) opensThe Thomson-East Coast Line station about five minutes' walk (est.) from the site begins service.
2. Aug 2025Site awarded to CDL$360.9M at $782 psf ppr across five bids — the highest EC land rate on record at the time of award, by $1 psf ppr over the second bid.
3. Jan 2026Adjacent parcel awarded to Sim Lian$794 psf ppr for about 560 units, breaking the record five months later. Tender closed 13 January, so it shares this site's old-rules exemption.
4. May 2026MND tightens the EC framework10-year MOP, 15-year privatisation, no DPS and a ~90% first-timer quota for tenders closing from 8 May. Five pipeline projects exempt, including both Woodlands Drive 17 parcels.
5. Aug 2026Project name confirmedCDL lists the project as Wynwood Grand, at an estimated 430 units. Factsheet, floor plans and price list still pending.
6. Q4 2026 (est.)Target preview and price listUnit mix, floor plans, stack data and pricing all land here. This is when the estimates on this page become facts, and day-one take-up becomes the demand signal worth watching.
7. End-2026 (target)RTS Link passenger serviceLTA's stated target, with systems testing from around September 2026 and reported risk of slippage into early 2027. Fare and opening date to be announced jointly by both transport ministers.
8. 2031 (est.)Estimated TOPKeys collected and the five-year MOP clock starts from possession.
9. 2036 (est.)MOP clearsResale to Singapore Citizens and PRs, and whole-unit rental, become possible for the first time.
10. 2041 (est.)Full privatisationTen years from TOP under the old rules, opening the buyer pool to foreigners and entities.

Our read on Wynwood Grand

The trade is clear once stated as a trade. You pay the highest total price the EC segment has ever asked. It is priced off a record $782 psf ppr land cost. And the district’s past exits run below the national average. In exchange you get a five-year stay instead of ten, and the Deferred Payment Scheme. You also get a 30% second-timer allocation, and an MRT station running since 2020. Then three easy primary schools inside 1km, and a dated catalyst list denser than most OCR launches can claim. That suits a Woodlands-anchored upgrader with real flat equity, on a ten-year view. It does not suit a buyer who needs rental income before 2036. Nor one whose deposit is HDB proceeds alone, with nothing behind it.

Two figures decide it. The first is the launch price against our $1,830–$2,070 indicative range. At the bottom of it, the observed 2.38 to 2.47 land multiple has held, and pricing is disciplined. Near the top, the developer is asking the buyer to fund the record land bid in full. The second is the borrowing gap at the actual price list. Specifically, whether a typical Woodlands five-room sale bridges the downpayment that a $909,000 maximum loan implies. We re-check both the day the price list lands.

Wider context sits in our GLS pipeline tracker and the 1H 2026 GLS review. District 25’s transaction record is in our price trends data. Interested buyers should visit the Wynwood Grand appointed developer sales website to register interest, get the latest e-brochure and book a showflat viewing. It carries launch updates as CDL confirms them, including a pricing page and an eligibility FAQ. Use this page as the yardstick to read them against.

Wynwood Grand: the short version

• The tender closed in August 2025, so this EC keeps the old rules: a five-year stay, not ten, and the Deferred Payment Scheme.
• The plot next door is exempt too. Anyone telling you the rulebooks differ is wrong.
• Land cost $782 psf ppr, an EC record at the time. The neighbour paid $794 five months later.
• Our indicative launch range is $1,830–$2,070 psf. Recent EC launches at similar land costs point to $1,860–$1,930.
• Norwood Grand, a new private condo across the road, averages about $2,079 psf.
• Three primary schools sit within 1km, and none of them balloted at Phase 2C in 2025.
• The borrowing cap is 30% of income, not 55%. At the $16,000 ceiling that funds a loan of roughly $909,000.
• You cannot rent out the whole unit, or buy another home, until roughly 2036.

So what should you do with this? Work out your loan ceiling under the 30% cap before you look at anything else. That, not the income ceiling, decides whether this is reachable. Then check what your flat actually nets after the CPF refund and outstanding loan. See whether it covers a downpayment nearer half the price than a quarter. And when the price list lands, measure it against $1,860–$1,930, because that is what comparable EC land costs have actually produced this year.

Sources: HDB Government Land Sales tender results (Aug 2025, Jan 2026); MND's announcement of 8 May 2026 and subsequent reporting by Channel NewsAsia, The Straits Times, The Edge Singapore, EdgeProp and Stacked Homes; LTA and MOT records on the Johor Bahru–Singapore RTS Link; URA Woodlands Regional Centre urban design guidelines; ICA and SLA statements on the Woodlands Checkpoint redevelopment; HDB EC eligibility conditions and MAS MSR/TDSR rules as at August 2026; MOE P1 registration and balloting releases compiled in our own schools dataset; our own land-sales and matched-resale datasets. Figures marked (est.) are estimates and subject to change at preview; no developer price list has been released. Past performance of comparable projects is not indicative of future results. This page is research, not financial advice. PropertyInsider.sg is an independent research publication. The publisher’s agency is part of the developer’s appointed sales team for this project; that work sits outside the research desk and does not change our figures or verdict. See our editorial policy.

Page history

• 9 Oct 2026 — The neighbouring Sim Lian site is now named Clovelle of Woodlands, at about 570 units (was about 560). Name and unit count updated where the neighbour is mentioned, including one FAQ answer, and the link to its appointed developer sales website now points to clovelleofwoodlandsec.sg. No figure for Wynwood Grand changed.
• 3 Oct 2026 — Wording pass. Region names now use URA's CCR, RCR and OCR labels, and several phrases were simplified for first-read clarity. No figure, date or source changed.
• 2 Oct 2026 — Link to the project’s appointed developer sales website reworded, so readers can see where to register interest, get the e-brochure and book a showflat viewing. Disclosure line updated to state that the publisher’s agency is part of the appointed sales team. No figure, table, source or FAQ answer changed.
• 30 Sep 2026 — Estimated breakeven restated on the PropertyInsider.sg cost model, which replaces the third-party cost stack used before: $1,595 psf ppr; indicative range now $1,830–$2,070 psf. Cost lines quoted in the text updated to match.
• 9 Sep 2026 — Plain-English pass. Prose rewritten for shorter sentences and first-read clarity, jargon explained at first use, a short-version summary added before the FAQ, and em dashes removed from body prose. No figure, date, table row, source, link or FAQ answer was changed in substance.
• 20 Aug 2026 — Editorial pass: section headings and framing rewritten to be specific to this project rather than shared house phrasing across the launch pages. No figures, sources, tables or FAQ answers changed.
• 19 Aug 2026 — Research read rewritten to the house standard. Corrected a material error: the adjacent Sim Lian parcel was previously described as falling under the new 10-year MOP framework — it does not. Its tender closed on 13 January 2026 and it shares this site's old-rules exemption, so every comparison built on that difference has been rewritten around sequencing and land cost instead. TOP and all downstream MOP dates restated to 2031 / 2036 / 2041 (est.) from our project record. Pricing walked explicitly from the $1,600 psf ppr breakeven to the $1,840–$2,080 indicative range and cross-checked against the observed land-to-launch multiples at Rivelle and Coastal Cabana. School distances and 2025 Phase 2C ballot figures restated from our own dataset. Rental counter-case, buyer-fit and MSR affordability sections added, with the MSR gap raised to a high-rated risk. CDL's confirmation of the project name logged.
• 11 Jul 2026 — Page published: land-cost ladder, calibrated pricing estimate, old-versus-new EC framework table, District 25 dataset benchmark, risk register and timeline.
• Next scheduled update — the day CDL publishes a price list and site plan, when the indicative range is replaced with actual pricing and stack-level analysis is added.

Frequently asked questions