Peace Centre Redevelopment and Planning Approval

Peace Centre Redevelopment and Planning Approval

Transforming Sophia Road: The Vision for The Collective at One Sophia

In a significant development for Singapore’s real estate landscape, the ageing Peace Centre on Sophia Road is slated for a comprehensive redevelopment, promising to reshape the area by 2028.

This follows the joint acquisition of the enbloc site by entities linked to CEL and SingHaiyi, who have ambitious plans to rejuvenate the site with a mixed-use development.

Planning Approval and Project Details

The redevelopment plans received the green light in late 2023, paving the way for the creation of a dynamic new hub named “The Collective at One Sophia.”

The project includes two residential blocks offering 367 units and a commercial tower branded as “One Sophia,” which will feature 11 levels of strata offices, retail spaces, and extensive amenities.

The Peace Centre site spans 7,118 square meters, strategically located near Orchard Road, one of Singapore’s prime districts.

The commercial tower, One Sophia, will stand 13 storeys high, integrating both office and retail uses.

With a gross floor area (GFA) dedicated 60% to commercial use and 40% to residential, the development aims to create a balanced environment catering to diverse needs.

Residential and Commercial Opportunities

The residential component, comprising studios, one, two, and three-bedroom units, is designed to cater to a range of homebuyers, from singles to families.

The commercial aspect of the redevelopment promises to attract businesses seeking prime office spaces, with the strata offices and retail units expected to draw significant interest from high-net-worth individuals and family offices.

Demolition works for the existing structures are set to begin in the third quarter of 2024, with the launch of residential and strata office units anticipated in the same quarter.

The entire project is scheduled for completion by 2028, marking a transformative period for the Sophia Road vicinity.

Michael Ng, Executive Director of SingHaiyi Holdings, expressed optimism about the project, highlighting its potential to inject new life into the area and meet the growing demand for both residential and commercial spaces in Singapore’s Core Central Region (CCR).

The development is expected to not only enhance the local real estate market but also provide a significant boost to the local economy by attracting new businesses and residents.

Comparative Market Analysis

Recent residential launches in the area, such as the Orchard Sophia, have seen robust sales, indicating strong market interest.

Experts suggest that the new 99-year leasehold residential units at One Sophia could command prices nearing the S$3,000 per square foot (psf) mark, given their strategic location and modern amenities.

With the redevelopment of Peace Centre, CEL and SingHaiyi are set to redefine the Sophia Road landscape, creating a vibrant, integrated community space that blends living, working, and leisure.

This project underscores the ongoing transformation of Singapore’s urban spaces and the city’s ability to adapt and innovate in response to changing market dynamics.

As the project progresses, it will be closely watched by industry stakeholders and potential investors, all keen to see how this ambitious redevelopment will shape the future of Sophia Road and its surroundings.

Recent En Bloc Properties Sold

  1. Delfi Orchard (Record Price)
  2. Noel Building
  3. Shenton House
  4. Kew Lodge 
  5. GSM Building 
  6. GS Building