Novena has undergone a major transformation as new shopping malls, hospitals and residential condominiums have sprung up. Many expats from Indonesia, Malaysia and PRC are calling it home.
Novena is the home of Health City Novena, which is set to be Singapore’s largest healthcare complex by 2030. It comprises and integration of Tan Tock Seng Hospital, medical guru, a medical school and a number of healthcare research facilities.
Despite the face-lift, Novena maintains its religious origin. It is named after Novena Church or Church of Saint Alphonsus, a distinctive landmark in the area. Novena is also a devotional prayer in Catholic.
Novena is in a location of high demand for both residential buyers and investors. It is strategically located in prime District 11 where it has close proximity to the CBD and good schools. The area also has high rental income potential.
There are also many shopping malls nearby such as United Square, Velocity @ Novena Square and Square 2. These give residents the convenience of a one-stop shopping and dining choices.
For residents wishing to get a greater experience of the heritage, they can visit Balestier and enjoy the local gourmet. Zhongshan Park is also nearby which hosts various restaurants and shopping mall.
Despite its connectivity and accessibility, Novena will benefit from a further enhanced connectivity by the Thomson-East Coast line that is coming up. The line will connect Novena to other parts of Singapore via Stevens and Botanic Gardens MRT station.
The transformation that is going on at Novena should result to good rental yield at both Newton and Novena. Among the new condos nearby are 12 on Shan and 26 Newton which are near an area that will be popular with investors.
Royal Square is another property in Novena comprising of retail shops and medical suites. Its TOP is set by 2018 and it will add to the list of medical suites in the area.