The Housing & Development Board has just closed the land tender for a site at Hougang Central under the 1H2025 Government Land Sales (GLS) programme. The sites can yield approximately 835 units and 40,000 sqm of commercial space.

There were three bids received for this plot, which was within our expectations. The highest bid was from Horizon Residential Pte. Ltd. and Horizon Commercial Trustee Pte. Ltd. (as trustee of Horizon Commercial Trust), at a bid price of S$1,500,738,338 or around S$1,179 psf ppr. This was above our estimates and was 2.1 per cent higher than the next highest bid from Sim Lian Land Pte Ltd & Sim Lian Development Pte Ltd, which was S$1,470,500,000 or around S$1,155 psf ppr. The most recent mixed commercial and residential development sold was the site at Chencharu Close, which was awarded at a land rate of S$980 psf ppr in September 2025.

The strong response to the tender was unsurprising. The site boasts an outstanding location, seamlessly connecting to the Hougang MRT Station Interchange for both the future Cross Island Line and the North East Line. There will also be approximately 40,000 sqm of commercial space located at the future development, bringing amenities, retail options, and dining spots to residents.

Moreover, the site is situated within 1km of several primary schools, including CHIJ Our Lady of The Nativity, Holy Innocents’ Primary School, Monfort Junior School, Punggol Primary School, and Yio Chu Kang Primary School. This site will be particularly appealing for parents with school going children.

There may be some pent-up demand for private homes in Hougang due to a lack of supply of new homes. It has been quite some time since the last plot of land was released for sale in Hougang. The most recent non-landed land parcel awarded in Hougang was in 2014 to Asset Legend Limited for the development now known as Stars of Kovan. Moreover, there have only been two new non-landed project launches since 2022 in Hougang – Jansen House and Kovan Jewel – where both are boutique projects with limited units and nestled within landed housing estates. As such, there may be keen interest in the project here when launched for sale. Moreover, HDB resale prices of younger (less than 20 years) 4-room and 5-room flats in Hougang have reached a median of S$675,000 and S$830,000 respectively in Jan-Nov 2025, which will also support HDB upgraders looking to buy private property.

The OCR integrated development, Parktown Residence, yielded excellent sales during its launch in February 2025, demonstrating that many buyers were willing to pay a premium for a project that boasts accessibility to amenities and transport options at their doorstep. More recently, the integrated development Zyon Grand, near River Valley, also sold 84 per cent of the total units during its launch weekend in October, reinforcing the popularity of integrated developments. Additionally, integrated developments remain relatively rare, with only a handful of such sites released for sale in the GLS programme each year. The excellent connectivity of two MRT stations directly linked with retail space in the future development here will likely boost demand for this project when launched.