The Housing & Development Board has closed the land tender for an executive condominium (EC) site at Miltonia Close under the 2H 2025 Government Land Sales (GLS) programme. The site can yield approximately 430 units.

Three bids were received for this plot, with the highest bid from Hoi Hup Realty Pte Ltd. at a bid price of S$340,850,000 or around S$732 psf ppr. This is around 9.2 per cent higher than the next highest bid from Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd.  

The healthy response to the tender was expected. While the site is not within walking distance of an MRT station, it is located near Lower Seletar Reservoir, which may appeal to homebuyers looking for a more tranquil homestead close to greenery and water bodies. Several schools are within 2km of the site, which may also boost its appeal to families with school-going children.

The supply of ECs from the 1H2026 GLS Confirmed List at 635 units, 13.9 per cent of the 4,575 total units offered, is lower compared to the 980 units (19.5 per cent of total units) and 990 units (21.0 per cent) offered in 1H2025 and 2H2025, respectively. Notably, one site in the 1H2026 GLS is also smaller, at just 185 units. Hence, demand for this site could have also stemmed from the relatively limited choices available in the first half of this year.

The most recent EC site sold in Yishun was the site at Yishun Avenue 9, which was awarded in November 2020 at a land rate of S$576 psf ppr. It is now the development North Gaia, which is fully sold out. The launch of a new EC site for sale in Yishun is timely, as it has been a number of years since a new EC site was launched here, which may lead to some pent-up demand.

Moreover, with a large catchment of HDB flats in Yishun, there may be keen demand from HDB upgraders looking for a new residential project in Yishun. Over 2,300 4-room and 5-room flats in Yishun will also reach their MOP between 2026 and 2028, adding to the base of potential upgraders at the future EC here. ECs generally remain highly popular among buyers, with recent EC launches such as Rivelle Tampines selling extremely well during the launch period in March 2026.