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New Launch ReviewD20 · Upper Thomson99-year leasehold

Thomson Reserve Review: The Site Plan Is Out, The Price Isn't, And It Already Scores 10/10

The site plan, the schools, the doorstep MRT and the developer are all here. With Upper Thomson resale already trading at $2.4M to $2.9M, even a $3,000 psf launch reads as a must-grab. The official price, due at the October 2026 preview, is the only box left to tick.

MJ
Founder, Review Homes SG
Updated
23 Jun 2026
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22 min
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Thomson Reserve
Thomson Reserve · D20 · Upper ThomsonSite plan: UOL · Singapore Land · CapitaLand (draft, subject to authorities' approval)
TL;DR

Thomson Reserve is the 1,268-unit redevelopment of the former Thomson View, bought en-bloc for $810 million by UOL, Singapore Land and CapitaLand. It sits beside Upper Thomson MRT, opposite Thomson Plaza, within 1km of Ai Tong School, on a fresh 99-year lease. This is the launch of the decade for Upper Thomson: a 10/10 on the site, schools and developer. The only open box is the official price, and with Upper Thomson resale already at $2.4M to $2.9M, even a $3,000 psf launch is a must-grab. Price it at or below $3,000 psf and the score locks at 10.

Thomson View En Bloc Closed At $810M — Now Launching As Thomson Reserve
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Thomson View En Bloc Closed At $810M — Now Launching As Thomson Reserve
Full Review18 minRead →

Thomson Reserve is the redevelopment of the former Thomson View. UOL, Singapore Land and CapitaLand struck the $810 million collective sale in November 2024. It was the second-largest en-bloc of that year, and one the old estate took five attempts and 17 years to pull off.

The consortium bought one of the most complete addresses you will find on an Upper Thomson new launch. The MRT is at the side gate. Thomson Plaza is across the road. Ai Tong School is on the same street. The land cost, at $1,178 per square foot per plot ratio, came in below several suburban sites sold around the same window.

The one thing Thomson Reserve does not have yet is an official price. That is the only open question. It is why this Thomson Reserve review calls it a 10 out of 10, the launch of the decade for Upper Thomson, with the score conditional on a launch price at or below $3,000 psf, which, as you'll see, is exactly where the area's resale already trades.

Where this stands · June 2026
Land (Nov 2024): Thomson View en-bloc closed at $810M, or $1,178 psf ppr, on a fresh 99-year lease
Preview (targeted Oct 2026): floor plans and pricing not yet released
Our read: 10/10, conditional on the launch price. Quality and Exit are locked; the Price pillar locks at launch and holds at or below $3,000 psf
Our price call: around $2,800 psf across 2BR ($1.75M–$1.95M), 3BR ($2.65M–$2.95M) and 4BR ($3.36M–$3.55M), the level Upper Thomson resale already trades at
The case: Thomson Grand, Thomson Three and Jadescape 3BR resale already sit at $2.4M–$2.9M today, so even a $3,000 psf launch reads as a must-grab
We update this box as the floor plans, pricing and launch results come out. One article, built up over time.

Thomson Reserve's en-bloc: what did $810 million buy?

Thomson View sat on its 5-hectare plot for four decades before the owners agreed to sell. The buyer was a heavyweight pairing: UOL with its subsidiary Singapore Land on one side, CapitaLand on the other. EdgeProp reported the deal at $810 million.

After land betterment charges and a lease upgrading premium for a fresh 99-year term, that works out to $1,178 psf per plot ratio. The sale only cleared the High Court in 2025 after years of minority objections, and the original owners walked away with between $2.22M and $4.94M each. We covered the full saga in our Thomson View en-bloc breakdown.

The consortium is not a first-timer. The same three names are behind Parktown Residence in Tampines North, Skye@Holland, Watten House and Meyer Blue. That track record matters for two reasons. Build quality on their recent projects has been consistent, and a developer this size has the balance sheet to price a 1,268-unit launch patiently rather than dump stock. What it does not tell you is how this specific site will be laid out. That waits on the floor plans.

Thomson Reserve's location is doing the heavy lifting

The location is the biggest reason Thomson Reserve scores 8 out of 10. Start with the MRT. Upper Thomson station on the Thomson-East Coast Line sits right beside the development, and Exit 2 is a two to three minute walk from the door. For a project this size, that is rare.

Thomson Reserve connectivity map: beside Upper Thomson MRT, opposite Thomson Plaza, within 1km of Ai Tong School in District 20 Source: UOL · Singapore Land · CapitaLand

One stop north, Bright Hill is set to become a Thomson-East Coast Line and Cross Island Line interchange when CRL Phase 1 opens, targeted for 2030, the same year Thomson Reserve is due to complete. The Cross Island Line runs east-west, so you get a second direction of travel on top of the north-south TEL you have today. One stop the other way, Caldecott connects to the Circle Line. That puts three lines — the TEL at the door, the Circle Line and the future Cross Island Line — within a single stop.

Then the schools. Ai Tong School, one of the most heavily balloted primaries in the country, is at 100 Bright Hill Drive, the same road, comfortably inside 1km. CHIJ St Nicholas Girls' School, Catholic High School, Marymount Convent School and Eunoia Junior College sit within the wider 1-2km band, with Raffles Institution nearby in Bishan. For a family buyer, that cluster is the single biggest reason to be on this site.

Daily life is already built. Thomson Plaza is directly opposite for groceries and everyday errands, and you are sitting at the top of Upper Thomson, one of the island's best-known food and cafe belts. The eateries and coffee spots here are a short walk or drive, not a destination you have to plan around. Five green spaces ring the area within minutes: Bishan-Ang Mo Kio Park, Lower Peirce, Windsor Nature Park, MacRitchie and Thomson Nature Park. You are buying into a mature, settled pocket of District 20, not a new estate that needs a decade to fill in.

Aerial view of the Thomson Reserve site at Bright Hill Drive in Upper Thomson, beside Thomson Plaza, Junction 8 and Ai Tong School Source: UOL · Singapore Land · CapitaLand

What does the Thomson Reserve site plan show?

The draft site plan lays out six towers of around 24 storeys across the curved 5-hectare plot, built to a plot ratio of 2.1. It fronts three roads with two ways in: the main entrance off Bright Hill Drive and a second off Sin Ming Avenue, with Upper Thomson Road along the remaining side. That spread lets a project this size breathe, rather than funnelling 1,268 homes through one driveway.

Orientation matters here, because it is what you wake up to. The premium stacks face south and south-west, over the low-rise landed enclave and out toward the MacRitchie and Lower Peirce greenery, with the reservoir tree line opening up from the higher floors. The stacks fronting Bright Hill Drive and Upper Thomson Road take the road side. They shield the quieter homes behind them, but they are the ones to look at last if a view matters to you. One block at the Sin Ming Avenue end runs east-west rather than north-south. Its west side faces the greenery, but east-west units take more direct sun through the day than the north-south stacks do. Check the facing on that block before you commit.

Thomson Reserve site plan: six towers across the curved 5-hectare plot, central pool and full facilities, with frontage on Bright Hill Drive, Upper Thomson Road and Sin Ming Avenue Source: UOL · Singapore Land · CapitaLand (draft site plan, subject to authorities' approval)

On facilities, the land gives the layout room: a large central pool running through the spine of the site, a separate kids' pool, a clubhouse, a gym and fitness corner, a tennis court at the Sin Ming end, a multi-purpose court, BBQ pavilions and play areas, with parking and services tucked into the basement. There is no dedicated lap pool, though. The pools here read as leisure and family pools, so if you swim laps every morning, that is one to check on the final plan.

Those 1,268 homes run from 1+study up to 5-bedroom. Scale of this kind tends to get framed as a negative. The better way to read it: a project this big comes with full facilities, spreads the maintenance bill across more homes, and once it fills up, produces a steady flow of resale transactions. Those resales build a clear price record over time, which is exactly what you want behind you when it is your turn to sell.

None of that settles the unit itself. The exact bedroom mix, the sizes and the layout efficiency are all still to be confirmed. A doorstep-MRT mega-project can still ship a compact 3-bedder with a single-bed common room, or a genuinely usable family layout. We do not know yet, and we will not guess. That is the gap the floor plans will close.

Thomson Reserve price: what the land cost says, and what it doesn't

Here is the land cost in context. The $1,178 psf ppr the consortium paid is a Rest of Central Region figure that landed below a string of suburban sites sold in the same stretch.

Region Recent land sale Land cost (psf ppr)
OCR Bedok Rise $1,330
OCR Lentor Central $1,278
OCR Hougang Central $1,179
RCR Kallang Close $1,415
RCR Dover Drive $1,556
RCR Thomson Reserve (former Thomson View) $1,178
CCR Dunearn Road $1,625

Land costs per plot ratio. Source: URA tender results and reported collective sale figures.

Read that carefully, because it is easy to over-read. A lower land cost is a starting point, not the finish line. It is the base the developer builds up from. It does not promise a cheaper launch price, and it is not a knock on any of the projects above, each of which answers to its own micro-market. Construction, financing and margin still get layered on top, and a fresh-99 RCR site beside an MRT will not be priced like a discount.

That said, a low land cost does give the developer room. It gives the consortium more flexibility on the launch number than a developer who overpaid for land would have. Whether they use that room to price keenly or push the top of the range is what decides whether our conditional 10/10 locks in.

So the Price pillar stays officially open until the list is out, targeted for the October 2026 preview. We won't carve a final score into a number that isn't real yet. But we will put our prediction on the record, clearly labelled, so you can hold us to it when the guide price drops. As the next section shows, the resale market around this site already tells us where that number should land.

What will a Thomson Reserve unit cost?

The official price list isn't out, so this is our call, not the developer's. We're putting it on the record so you can check it when the guide price lands. Our working number is around $2,800 psf, not a stretch figure but exactly where Upper Thomson resale already trades, which we'll show in a moment.

Expect the guide price to tease low. Like most launches, the headline will sit on the smallest unit on a low floor. Treat it as the draw, not the average.

Unit Size Guide price ("from") Where most will land ~PSF
2-bedroom 624–689 sqft ~$1.68M $1.75M–$1.95M ~$2,800
3-bedroom 969–980 sqft ~$2.42M $2.65M–$2.95M ~$2,800
4-bedroom 1,184–1,259 sqft ~$3.20M $3.36M–$3.55M ~$2,800

Total price leads; PSF is the area-resale benchmark, not a developer figure. Sizes and prices are our prediction, to be checked against the official floor plans and guide price.

So if you are an upgrader cross-shopping a 3-bedroom here, budget closer to $2.65M to $2.95M, not the sub-$2.5M headline. We will update this the moment the guide price is out, and see how close we were.

How Thomson Reserve compares: what Upper Thomson already costs

Here is the part that settles the price question. Forget the launch list for a moment and look at what buyers are already paying, today, for resale condos in this exact pocket. This is the comparison every Upper Thomson buyer should run.

Development (resale, 3BR) Age Recent size Recent price PSF
Thomson Grand ~10 yrs 1,356–1,593 sqft $2.36M–$2.73M ~$1,660–$1,910
Thomson Three ~8 yrs 1,055–1,141 sqft $2.20M–$2.70M ~$1,950–$2,380
Jadescape ~4 yrs 1,012–1,152 sqft $2.60M–$2.92M ~$2,490–$2,610
Thomson Reserve (new, predicted) New, fresh 99-yr 969–980 sqft $2.65M–$2.95M ~$2,800

Resale rows are completed (TOP'd) 3-bedroom transactions over the last two years, sourced to URA. A new launch is a different product: when Thomson Reserve itself TOPs and hits resale, expect its prices higher again.

And here are real transactions from the last few months, not asking prices, behind those ranges:

Condo Contract date Size Price PSF
Thomson Grand May 2026 1,593 sqft $2,730,000 $1,714
Thomson Grand Apr 2026 1,367 sqft $2,588,888 $1,894
Thomson Three Jun 2026 1,141 sqft $2,695,000 $2,362
Thomson Three Apr 2026 1,141 sqft $2,640,000 $2,314
Jadescape Apr 2026 1,055 sqft $2,745,000 $2,602
Jadescape Feb 2026 1,141 sqft $2,900,000 $2,542

Source: URA resale transactions, 3-bedroom, 2024 to 2026.

Read down the price column. Upper Thomson 3-bedroom resale trades roughly $2.4M to $2.9M today, and that is for homes four, eight, ten years old. A new-launch 3-bedroom at Thomson Reserve, around $2.8M, asks about what the newest of them already costs, for a brand-new unit on a fresh 99-year lease with the MRT at the gate.

Now read the PSF column, because that is the real tell. It climbs with age: Thomson Grand at ten years old sits near $1,800 psf, Thomson Three at eight around $2,200, and Jadescape, the newest at four, is already at $2,500 to $2,600. A new launch at $2,800 to $3,000 psf is the next rung on that same ladder, the normal premium for the newest product, and the gap narrows as it ages.

Here is the part most people miss. The buyers paying $2.7M today for a ten-year-old Thomson Grand, or stepping into an older condo like Thomson Impressions, are not buying at the bottom. For them to make money, they have to sell higher still, at $3M and up. Enter a brand-new Thomson Reserve at a similar total and you are buying the newest, most efficient version of the same address, on a fresh lease, ahead of where the older stock has to climb.

The layouts compound that edge. Thomson Reserve is a post-harmonisation launch, so its space is more efficient than the pre-2023 layouts at Thomson Grand, Thomson Three and Jadescape: less of your price goes to void balcony and aircon-ledge area, more to liveable floor. Put that in a 1,268-home development large enough to run fully self-sustained, with the pools, courts, gym, dining and daily errands on site or across the road, and you get the kind of product that trades the way Jadescape does today: high demand, steady resale.

That is the case against Jadescape specifically, the closest like-for-like. Thomson Reserve beats it on the things that drive resale: the station is at the gate rather than a walk away, the lease is a fresh 99 rather than part-run, Ai Tong sits within 1km, and the stacks are mostly north-south facing with unblocked views over the landed enclave and the reservoir treeline. Same corridor, same buyer. Newer, better-placed product.

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Why Thomson Reserve is a must-grab, even at $3,000 psf

This is the launch of the decade for Upper Thomson, and a must-grab even at $3,000 psf.

Run the worst case for a second. You ballot badly, you get no pick of unit, and you still go in at the top of the range: $3,000 psf, high floor, for your own stay. A 1,000 sqft home at that price is $3 million. So ask yourself honestly: at $3 million, in this location, with eight to ten years to hold, what is there to be afraid of? The same-sized resale in this pocket already trades around $2.6M to $2.9M today, and that is for homes four to ten years old with no MRT at the door. You would be buying the newest, best-placed version of that home, on a fresh 99-year lease, and holding it long enough that the entry price stops mattering.

Here is why the $3,000 psf number, the one that makes people hesitate, shouldn't. On total price, you are paying about what the newest resale next door already costs, except you are getting a brand-new home, a fresh 99-year lease and a doorstep MRT for it. On PSF, you are a few hundred dollars above the newest resale, which is the standard new-launch premium and the kind of gap that closes as the project matures. And on direction, the wider market is already moving toward $3,000 psf as the new normal, with the Business Times numbers behind that at the end of this review. Secure a unit around $2,800 psf in the strongest site in the district, and you are buying below where prices are heading, not at the top of them.

This is an RCR address, city-fringe rather than suburban, in one of the most demand-proven pockets on the island: elite schools, a doorstep TEL station, a future Cross Island Line interchange a stop away, and a deep Bishan and Ang Mo Kio upgrader base behind it. That combination, at this price, is why even the top of the range is still a grab.

Floor plans aren't out yet: what we'll be checking

The site plan is public. The unit floor plans are not. When they drop, these are the things that move the Quality score up or down:

  • Layout efficiency: how much of the sqft you are paying for is usable, versus what gets lost to long corridors and dead space.
  • Common room sizes, in sqm: a 7 sqm common room fits a single bed and little else. For a family 3 or 4-bedder, that is the gap between a real bedroom and a study with a door.
  • The 1+study and the larger family units: which layout suits whom, and where the value sits in the mix.
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When the Thomson Reserve floor plans and unit mix are released, we post them, with our layout read, in the community before this article is updated. Join to get the alert the day they're out.

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Thomson Reserve's exit: schools, the TEL, and a deep upgrader base

Exit is four of those ten points, and it does not depend on the price.

The schools alone guarantee steady demand. Families chase the Ai Tong and CHIJ St Nicholas addresses, and that pull shows up in both resale buyers and tenants. A doorstep MRT brings in everyone who commutes on top of that. Add the future Cross Island Line interchange at Bright Hill, and the transport links only get better the longer you hold, not worse.

Underneath all of it is the upgrader base. Bishan, Ang Mo Kio and Thomson are full of HDB owners and older-condo households who want to stay near their kids' schools and their parents. When they sell and move up, this is the kind of address they move into. That is about as deep and steady as buyer demand gets.

Who is Thomson Reserve not for?

No site is for everyone. A few things to weigh before you commit:

  • You want freehold. This is a fresh 99-year lease. It resets the clock to a full term, but if tenure is your hard line, that is a real consideration.
  • You want to see the numbers before you decide. Pricing and floor plans aren't out yet. If you are the kind of buyer who needs every figure in front of you before committing, there is nothing concrete to act on at this stage. Wait for the official price list and floor plans, then judge it on what is actually there.
  • You want a quiet, boutique project. A 1,268-home project with full facilities is busy by design: more residents, more shared spaces, more activity. If a small, low-density block is what you picture, this is a different kind of living.
  • You need a home soon. With a preview targeted for October 2026 and completion around 2030, this is a long runway. It suits a buyer who can wait, not one who needs to move next year.

How to actually get a unit: ballot as a group

Here is the part no agent will tell you. With a launch this strong, the question stops being whether you want Thomson Reserve and becomes whether you get the chance to buy one. Expect buyers from all over the island, including plenty who do not even need it and will ballot just to try their luck. That is what a once-in-a-decade launch draws.

So do not walk in alone, but be clear on who counts. The bulk-purchase route is for immediate family only. You have to be related to the person you ballot with: your spouse, your parents, your children or your siblings. A friend, an unmarried partner or a colleague does not qualify. Find a relative who is also in the market and go in together. A related group can qualify for the bulk-purchase balloting queue at the VVIP preview, which is how you move up the order and protect your pick of unit. Our read is that this launch leans almost entirely on VVIP and public booking, with little to no separate agent booking window, so the family route may be the most reliable way to secure a good unit and a good queue number. Line it up before the preview, not on the day.

Who counts for the bulk-purchase queue
You and / or your spouse
Parents
Spouse
Children
Siblings (brother / sister)
Ballot alongside one of these and the developer can group you in the bulk-purchase queue. A friend, an unmarried partner or a colleague does not qualify.

Should you shortlist Thomson Reserve now?

Thomson Reserve is, on paper, one of the stronger sites to come to market in District 20 in a while. A doorstep TEL station, a future Cross Island Line interchange a stop away, Ai Tong on the same road, Thomson Plaza across it, a fresh 99-year lease and a top-tier developer team. This Thomson Reserve review scores it a genuine 10 out of 10, conditional on a launch price at or below $3,000 psf, before a single price is published.

We will be upfront about our own read on this one. On location, this is about as complete a site as we have come across at the new-launch stage: the MRT, the schools, the mall and the developer all in one place, with very little to pick at. We expect the October preview to draw one of the heavier crowds of the year. That is also why we are holding the line on price: the stronger you think the site is, the more it matters what you actually pay to get in.

We will go one step further, because it is the comparison every Upper Thomson buyer raises. How does this sit against Emerald of Katong, which sold close to 99% of its 846 units on its 2024 launch weekend at an average of $2,621 psf? Katong and Upper Thomson are different markets, so treat this as a read on the two sites, not the two postcodes. On what this review has already scored, our opinion is that Thomson Reserve is the stronger of the two, and we would back its preview to be contested just as hard.

The downside rating sits at "waiting for floor plans" for now, and that is the honest read on the layouts. But on everything we can already see, this is a 10 out of 10. The official Thomson Reserve price is the one thing left to lock it: price it at or below $3,000 psf, where the area's resale already sits, and the 10 holds. Price it well beyond that and what changes is how much margin you start with, not whether this is the best site to reach District 20 in a decade.

One more thing for the patient buyer. This is the backdrop behind the whole price question. New-launch prices have risen almost every year this decade. Business Times reported on 2 June 2026 that rising land bids have put the question of whether $3,000 psf becomes the new normal squarely in focus, with the 2026 new-sale median already around $2,573 psf. Read against that, a Thomson Reserve 3-bedroom secured at the lower-to-middle of our predicted range, roughly $2,500 to $2,800 psf, is priced below where the market looks to be heading, not at the top of it. Draw a good ballot number, secure a unit in that band, and you have a real margin of safety: a market already treating $3,000 psf as the direction of travel has to fall a long way before a $2,500 to $2,800 entry looks expensive.

Business Times, June 2026: rising land bids and whether S$3,000 psf becomes the new normal for Singapore new launches Source: Business Times, 2 June 2026

If location, schools and developer matter most to you, put the Thomson Reserve condo on your shortlist and get yourself in front of the October preview. If you want to see the number before you fall for the address, wait for the price list, and we will update this Thomson Reserve review the day it lands.

100%
◆ Our rating

Thomson Reserve — QPE Score

10
/ 10
Strong · conditional
Quality
4/4
Exit
4/4
Price
2/2 · pending
Conditional score. The Price pillar here is our prediction — we lock it the day official pricing is released.How is this rating calculated?

All information provided is for general reference only and is based on current planning assumptions. Details are subject to change without notice and may vary depending on final design development, regulatory requirements, and operational considerations. No representation or warranty is made as to the accuracy or completeness of the information provided.

QPE
10
/ 10
On the site, schools and developer, this is a 10/10 launch. We lock the Price pillar at launch. At or below $3,000 psf, where Upper Thomson resale already trades, it stays a 10.

Reader questions, answered

Should I buy Thomson Reserve?+
On the site, schools and developer, it's a 10/10, the strongest launch to reach Upper Thomson in a decade. And the resale market next door, already at $2.4M to $2.9M, says even a $3,000 psf launch is a must-grab. The one box still open is the official price: at or below $3,000 psf the score locks at 10. Floor plans aren't out, so check the layout when they land, but this belongs near the top of your shortlist for the October 2026 preview.
Where is Thomson Reserve?+
On Bright Hill Drive in District 20, the former Thomson View site. It sits beside Upper Thomson MRT and directly opposite Thomson Plaza.
How many units does Thomson Reserve have?+
1,268 units across roughly 5 hectares, in layouts from 1+study to 5-bedroom. The exact unit mix is still to be confirmed.
Who is the developer of Thomson Reserve?+
A joint venture of UOL Group, Singapore Land and CapitaLand, the same consortium behind Parktown Residence and Skye@Holland.
When does Thomson Reserve launch?+
A VVIP preview is targeted for around October 2026, subject to approval of sale. Estimated completion is around 2030, though developer guidance has ranged 2030 to 2032.
What is the tenure of Thomson Reserve?+
A fresh 99-year leasehold. The consortium topped up the lease as part of the $810 million Thomson View collective sale.
Is Thomson Reserve near a good school?+
Ai Tong School sits on the same road, 100 Bright Hill Drive, within 1km. CHIJ St Nicholas Girls' School, Catholic High School and Eunoia Junior College are also nearby.
What was the land price for Thomson Reserve?+
$810 million, or $1,178 psf per plot ratio after land betterment and the lease top-up. That is lower per square foot than several recent suburban (OCR) land sales.
How much will a 3-bedroom at Thomson Reserve cost?+
Pricing isn't official yet, so this is our prediction. The 3-bedroom here runs roughly 969 to 980 sqft. Expect the guide price to tease low, near $2.42M on the smallest, lowest-floor unit (around $2,500 psf). We expect most 3-bedrooms to land between $2.65M and $2.95M, about $2,800 psf, the level Upper Thomson resale already trades at. We will confirm against the official guide price when it is released.
Is Thomson Reserve worth buying at $3,000 psf?+
We think so. Upper Thomson 3-bedroom resale already costs $2.4M to $2.9M today. Thomson Grand, Thomson Three and Jadescape all sit in that band, and Jadescape, the newest at four years old, is already around $2,600 psf. A new launch at $2,800 to $3,000 psf buys a brand-new, doorstep-MRT home on a fresh 99-year lease for roughly the same total price as ageing resale next door. With the 2026 new-sale median already near $2,573 psf and the market moving toward $3,000 psf as the norm, securing a unit around $2,800 psf is buying below where prices are heading, not at the top.
What MRT is near Thomson Reserve?+
Upper Thomson MRT on the Thomson-East Coast Line is beside the site. Neighbouring Bright Hill is set to become a TEL and Cross Island Line interchange when CRL Phase 1 opens, targeted 2030.
Is Thomson Reserve a good investment?+
The exit fundamentals are strong: elite schools, a doorstep MRT, future Cross Island Line connectivity and a deep upgrader base in Bishan and Ang Mo Kio. Whether it is priced to deliver a return depends entirely on the launch number, which isn't out yet.
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