Short answer: OUE Twin Peaks is a 462-unit, 99-year leasehold condo at 33 Leonie Hill Road (District 9), completed in 2015. It has one of the weakest resale records in prime Singapore: EdgeProp counted 19 loss-making and one profitable resale in 2025, and the 2025 average of S$2,242 psf was 15.3% below the 2016 average.
Updated 28 September 2026. This page replaces an earlier version that contained incorrect facts; see the correction note at the end.
What is OUE Twin Peaks?
| Developer | Cove Development Pte Ltd, a subsidiary of OUE Limited |
| Address | 33 Leonie Hill Road, Singapore 239197 (District 9, River Valley planning area) |
| Tenure | 99-year leasehold from 10 May 2010 |
| Units | 462, in two towers of about 35 storeys |
| Unit types | One- to three-bedroom, 549 to 1,604 sq ft |
| Completion | TOP obtained February 2015 |
| Site area | About 130,983 sq ft |
| Nearest MRT | Orchard (TE14/NS22), about 490 m to the Thomson-East Coast Line station and 550 m to the North-South Line station in a straight line; Great World (TE15), about 580 m; Somerset (NS23), about 640 m |
Sources: EdgeProp project page (developer, tenure, units); EdgeProp, 20 Dec 2019 (towers, unit sizes, TOP date, site area). MRT distances are our straight-line measurements between OneMap coordinates for the building and each station; actual walking routes are longer.
Over half of the units are one-bedders of 549 or 570 sq ft, according to EdgeProp (18 March 2024). With about 82 years of lease left in September 2026 (our calculation: 99 years from May 2010), it is a leasehold project in a part of District 9 dominated by freehold condos.
How did OUE Twin Peaks sell at launch?
Slowly. EdgeProp reports that OUE Twin Peaks was first launched in late 2010 to 2011 at about S$2,702 to over S$3,000 psf, and that the average price of units sold in 2010 was S$2,835 psf. Only 79 of the 462 units (17.1%) had been sold by the end of 2015, the year the project was completed.
The developer relaunched the project in November 2015 and again in April 2016, this time with a deferred payment scheme (DPS). Under it, buyers paid 20% of the price upfront and the remaining 80% two or three years later. EdgeProp reports that all 462 units were sold by October 2017.
How have resale prices performed?
Poorly. EdgeProp's analysis of URA caveats shows average prices well below both the 2010 launch level and the 2016 DPS level.
| Year | Average price (psf) | Source |
|---|---|---|
| 2010 (first sales) | S$2,835 | EdgeProp, Mar 2024 |
| 2016 (DPS relaunch) | S$2,647 | EdgeProp, Mar 2024 |
| 2017 | S$2,861 | EdgeProp, Mar 2024 |
| 2023 | S$2,323 | EdgeProp, Mar 2024 |
| 2025 | S$2,242 | EdgeProp, Jan 2026 |
| Last 12 months (checked 28 Sep 2026) | S$2,184 (range S$1,913 to S$2,573) | EdgeProp project page |
The 2025 average is 20.9% below the 2010 average and 15.3% below the 2016 average (our arithmetic: 1 − 2,242 ÷ 2,835 and 1 − 2,242 ÷ 2,647).
How many OUE Twin Peaks sellers have lost money?
Most of them. EdgeProp reported in March 2024 that the project had 48 unprofitable and only two profitable resale transactions since 2013. In 2023 alone there were 10 loss-making sales and no profitable ones, with losses from S$62,500 to S$607,802.
The pattern continued in 2025. EdgeProp (14 January 2026) counted 19 unprofitable transactions and one profitable one, with losses from about S$105,000 to S$1.002 million. It attributed the largest loss to the seller's above-average purchase price of S$2,919 psf.
Why has OUE Twin Peaks lost value?
EdgeProp's reporting points to three factors:
- Leasehold among freeholds. EdgeProp (March 2024) attributes the losses partly to Twin Peaks being a 99-year leasehold condo surrounded by freehold condos: 39 of the 46 condos within 500 m were freehold, and it said most buyers prefer freehold.
- Deferred-payment buyers. EdgeProp (March 2024) notes that some DPS buyers from 2016 could not secure a mortgage when the remaining 80% fell due and had to sell at a discount. In its 2019 report, four loss-making sales involved units bought between April and June 2016.
- Small one-bedders. Over half of the units are one-bedders. EdgeProp (March 2024) describes a 570 sq ft layout with a large planter and no wall between the bedroom and the living area.
These are the explanations given by EdgeProp's writers; SG Properties has not independently tested them.
Who might OUE Twin Peaks suit?
This is a summary of trade-offs, not a recommendation. The facts above suggest that Twin Peaks' main draws are its location between Orchard Road and River Valley, Thomson-East Coast Line stations at Orchard and Great World, and entry prices that are lower in psf terms than they were at launch. The main risks are a long record of resale losses, a shrinking lease in a freehold-heavy area, and a large supply of similar one-bedroom units competing for the same buyers and tenants.
Anyone considering a unit should check the latest URA caveats for comparable stacks and sizes, and weigh the lease against their holding period. Our guide to lease decay explains how the remaining lease affects financing and value, and our District 9 and 10 guide covers the wider area.
FAQ
Is OUE Twin Peaks freehold? No. It is a 99-year leasehold development, with the lease starting on 10 May 2010, according to EdgeProp's project record.
How many units does OUE Twin Peaks have? 462 units in two towers, most of them one-bedroom units of 549 or 570 sq ft.
When was OUE Twin Peaks completed? It obtained its Temporary Occupation Permit (TOP) in February 2015.
What is the nearest MRT station to OUE Twin Peaks? Orchard is the nearest: its Thomson-East Coast Line station (TE14) is about 490 m away in a straight line and its North-South Line station (NS22) about 550 m. Great World (TE15) is about 580 m away and Somerset (NS23) about 640 m. These are our straight-line measurements, not walking distances.
What is the average price at OUE Twin Peaks? EdgeProp's project page showed a 12-month average of S$2,184 psf when we checked on 28 September 2026. The 2025 average was S$2,242 psf.
Why do so many OUE Twin Peaks sellers lose money? EdgeProp links the losses to high launch prices (about S$2,835 psf on average in 2010), deferred-payment buyers who later had to sell, and buyers' preference for freehold condos in the area.
Correction
28 September 2026: An earlier version of this page described OUE Twin Peaks as freehold, with 483 units at "1 Leonie Hill", studio to four-bedroom layouts and a former life as a hotel. These statements were wrong or unsupported. The project is 99-year leasehold with 462 units at 33 Leonie Hill Road, and we found no source for a hotel history. The page has been rewritten from the sources below.
Disclaimer: This page is for information only and is not investment advice. SG Properties is not a licensed estate agency and is not affiliated with OUE Limited.
Sources
- EdgeProp: OUE Twin Peaks project page (tenure, units, developer, 12-month average psf; checked 28 September 2026)
- EdgeProp: Deferred losses for recent sellers at OUE Twin Peaks (20 December 2019)
- EdgeProp: Project Spotlight: 48 out of 50 sellers lost money in this District 9 condo (18 March 2024)
- EdgeProp: Lessons learnt from last year's most unprofitable condos (14 January 2026)
- OneMap (Singapore Land Authority) (building and station coordinates for our distance measurements)
- OUE Limited project image via cos.sg (cover image)
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