Plans for a 470-Unit Development in New Estate
Real estate developer Yanlord Land Group announced on Monday (Sep 19) that its indirect subsidiary, UED Alpha, in collaboration with Forsea Residence and Soilbuild Group Holdings, has won the tender for a prime residential site at Lentor Central in Singapore. The successful bid came at S$481 million, equating to S$1,108 per square foot per plot ratio (psf ppr).
Details of the Development
The 144,714-square-foot site is located within the newly developed Lentor Hills estate and offers a maximum gross floor area of approximately 434,140 square feet. The consortium plans to build a residential project comprising about 470 units, contributing to the estate’s growing appeal as a prime residential hub.
Competitive Bids
Yanlord’s consortium outbid two competitors for the site. CapitaLand Development’s Tanglin Land submitted the second-highest offer at nearly S$1,069 psf ppr, while GuocoLand, in partnership with Intrepid Investments, placed the lowest bid of about S$1,038 psf ppr.
Market Performance
Yanlord’s shares closed unchanged at S$1.04 on Monday, reflecting market stability following the announcement.
This development signals strong interest in Singapore’s residential property market, particularly in newly established estates like Lentor Hills. The upcoming project is expected to further enhance the area’s appeal to homebuyers and investors alike.
