The government has launched the tenders for an executive condominium (EC) site at Sembawang Road, as well as a mixed-use commercial and residential site at Hougang Central. Both sites are on the Confirmed List of the 1H2025 Government Land Sales (GLS) programme.
The EC site at Sembawang Road is 204,170 sq ft with a gross plot ratio of 1.4. As part of the site control plan, the new development will feature a low-rise zone comprising residential blocks of up to 45m, and the project is expected to yield about 265 units. The tender is expected to close on Sept 11.
The mixed-use site at Hougang Central is 504,805 sq ft and zoned for “commercial and residential” use with a gross plot ratio of 2.5. The new development could yield up to 835 residential units and 430,556 sq ft of commercial space. The tender is expected to close on Dec 16.
Wong Siew Ying, head of research and content at PropNex, expects relatively keen interest from developers for both sites due to their attractive locations, as well as the sustained demand for EC projects and mass-market private residential homes. “In addition, some developers may be looking to bolster their land inventory following robust new homes sales in 4Q2024 and 1Q2025,” she adds.
EC site at Sembawang Road
The EC site at Sembawang Road is the third EC parcel launched for sale under the Confirmed List of the 1H2025 GLS programme. The other EC sites launched so far this year comprise a 109,354 sq ft site at Senja Close launched in March, as well as a 271,328 sq ft site at Woodlands Drive 17 launched last month. The tenders for both of these sites are expected to close in August. If all three sites are awarded, the new developments could yield 1,000 new EC units, says Wong.
Justin Quek, CEO of OrangeTee & Tie, notes that the appeal of the Sembawang Road EC site is boosted by its proximity to various amenities. The site is close to Canberra MRT Station and Canberra Plaza, and schools within a 1km radius include Ahmad Ibrahim Primary School and Yishun Primary School.
If awarded, the new EC project is likely to draw interest from nearby HDB upgraders, as the projected sales price would be more palatable compared to condo prices in the area, says Marcus Chu, CEO of ERA Singapore.
Transaction data compiled by ERA indicates that last year, new private residential units between 900 and 1,000 sq ft in the Outside Central Region (OCR) saw a 42% difference in median prices between ECs ($1.48 million) and private condos ($2.1 million).
However, Chu cautions that developer interest in the EC site could be negatively affected as the close of this tender will coincide with a mixed-use site at Chencharu Close. HDB had launched the 316,997 sq ft commercial and residential mixed-use site along Chencharu Close last September with an initial tender closing date of May 22. This has been extended to Sept 11 to give prospective tenderers more time to prepare. “This batch closing could moderate developers’ interest, as both (sites) are extremely attractive potential developments within a similar location in the north region,” says Chu.
Nevertheless, Wong expects to see four to five bidders for the Sembawang Road EC site, with a top bid of between $700 and $710 psf per plot ratio (ppr), adding that developers will be encouraged to bid due to the continued healthy buyer interest in new EC launches and strong take-up rates for such projects.
Mixed-use site at Hougang Central
The mixed-use site at Hougang Central has the potential to be the first fully integrated mixed-use development above a MRT interchange, and may be the first new major shopping mall to serve residents in the Hougang estate, says Marcus Yip, CEO of Huttons Asia.
The mixed-use site at Hougang Central is 504,805 sq ft and zoned for “commercial and residential” use with a gross plot ratio of 2.5. (Source: EdgeProp Landlens)
The site is above Hougang MRT Station on the North-East Line, and the station will be turned into an MRT interchange when the Cross-Island Line is operational by 2030. A new bus interchange is also in the works. Chu notes that the development will likely become a key transport hub within the neighbourhood, heightening its overall appeal.
Quek anticipates strong pent-up demand for new private homes around the site due to the lack of any new private residential projects in the area in recent years. The most recent non-landed GLS site awarded in the vicinity was won by Hong Kong property developer Cheung Kong Property Holdings in 2014. The site was developed into the 390-unit Stars of Kovan on Upper Serangoon Road, after the developer submitted the top bid of $848.84 psf ppr.
Quek anticipates one to two bidders for the Hougang Central site, with the highest bid ranging from $880 to $1,000 psf ppr. Meanwhile, Chu expects developers to enter the tender as a consortium or joint venture given the size of the Hougang Central plot and mix of residential and commercial elements.
