District 11
Novena
Singapore's Health City medical precinct
Overview
Precinct overview
Novena is being transformed into Health City Novena, a 17-hectare integrated medical and research campus anchored by Tan Tock Seng Hospital and the Lee Kong Chian School of Medicine. The precinct combines Core Central Region prestige with recession-resistant healthcare employment.
Investment advantages
- Health City Novena master plan through 2030
- Core Central Region address at a discount to Orchard
- Medical professional tenant base with low churn
- One MRT stop from Orchard and two from the CBD
Market performance
Current indicators
- Residential median
- S$2,680 psf
- Medical suite price
- S$4,100 psf
- Occupancy
- 96.0%
- Gross rental yield
- 3.3 – 3.8%
Residential median: +4.8% year-on-year
Medical suite price: +5.2% year-on-year
Occupancy: Medical suites
Gross rental yield: Residential
Rental demand
Consultants, visiting clinicians and medical students provide unusually stable occupancy.
Office demand
Strata medical suites are among the most tightly held commercial assets in Singapore.
Residential demand
District 11 freehold sites are scarce and rarely released.
Connectivity
Infrastructure & transportation
Infrastructure
- Health City Novena master plan
- Tan Tock Seng Hospital and National Skin Centre
- Central Expressway access
- Novena Square and United Square retail
MRT connections
- Novena (NS)
- Newton (NS/DT)
- Toa Payoh (NS)
Business districts
- Health City Novena
- Thomson Medical Hub
- Balestier
Current developments
- Elevate Novena Medical Suites
Featured projects
