Meyer House: Trophy property in the East

The Wee family’s Kheng Leong Co and listed property firm UOL Group have combined forces with three famous names in design to create a project rivalling those in the traditional prime districts and setting a new benchmark at Meyer Road

View of central courtyard and swimming pool, with the public park beyond (Credit: Kheng Leong/UOL Group)
Since private previews began at the end of May, five of the 56 units at Meyer House have been sold at prices from $7.45 million to $8.3 million apiece, or from $2,561 to $2,700 psf.
Located in the prestigious Meyer Road area in District 15, the freehold Meyer House is developed by a 50:50 joint venture between Singapore-listed property firm UOL Group and privately-held property development and investment firm Kheng Leong Co, owned by the family of billionaire banker and businessman Wee Cho Yaw.
Kheng Leong and UOL are hoping to replicate the success of their last luxury project, Nassim Park Residences, which they developed jointly with Japanese financial services group, Orix Corp. They have even positioned Meyer House as “the Nassim of the East”.
Rolled out 11 years ago at the end of May 2008, the 100-unit Nassim Park Residences was never officially launched. Yet, close to 70 units were snapped up within the first four months of preview – at an average price of $2,959 psf – before the global financial crisis struck in September 2008.
This was despite the super-sized units, with four-bedroom units starting from 3,175 sq ft and priced north of $10 million. Completed in 2011, Nassim Park Residences was fully sold shortly after.
Launched 11 years ago, close to 70 units at Nassim Park Residences were snapped up within the first four months of preview – at an average price of $2,959 psf – before the global financial crisis struck in September 2008 (Credit: Samuel Isaac Chua/EdgeProp Singapore)
In the market upturn following the global financial crisis, a 3,466 sq ft, four-bedroom unit was sold for $14.28 million ($4,120 psf) in 2010, which was the highest price psf achieved in the development; while a 6,878 sq ft penthouse changed hands in a sub-sale for $27.6 million ($4,001 psf) in...