GuocoLand, in a consortium with Intrepid Investments and TID Residential, secured the 99-year leasehold Lentor Central residential site after submitting the top tender of S$657.1 million, translating to a record land rate of S$1,277.71 per square foot per plot ratio, following the March 3 close of the Government Land Sales exercise that drew five bids. The site is expected to yield about 560 homes. The bid set a new benchmark for Lentor Hills Estate, where the consortium’s acquisition is the eighth residential parcel released under the programme.
GuocoLand’s consortium clinched the 99-year Lentor Central site with a S$657.1 million top bid, setting a record S$1,277.71 psf ppr.
The 171,428-square-foot plot, zoned for residential use with commercial permitted at the first storey, sits near Lentor MRT station on the Thomson-East Coast Line, within the Ang Mo Kio Planning Area and District 26’s chiefly private-housing catchment. It is about a 3-minute walk to the future Lentor MRT Station on the Thomson–East Coast Line. It is bordered by Lentor Estate to the north and the Teachers’ Housing Estate to the south, and it carries a maximum gross floor area of 60,480 square metres across a land area of 17,279.9 square metres. Development concepts indicated a mixed-use scheme of residential towers over ground-floor retail, with preliminary planning pointing to three 25-storey blocks and an estimated yield of about 560 private homes, while other unit-count scenarios cited roughly 600 apartments.
At S$1,277.71 psf ppr, the offer exceeded analyst expectations of roughly S$900 to S$1,150 psf ppr, and it was reported to be 4.5% above the second-highest tender. Market commentary linked the record land rate to potential future launch pricing around S$2,700 per square foot, a level that would help define the next phase of supply in a precinct surrounded by about 10 additional residential plots slated for development. The strong bidding activity at Lentor has been cited as a contributing factor to broader market sentiment improvement, with analysts noting that successful launches in the estate have reinforced developer confidence across Singapore’s residential land sales programme.
The winning consortium brings established experience in premium residential and mixed-use execution, and GuocoLand has a recent track record in the area through Lentor Modern, a 605-unit integrated development launched in 2021 next to the MRT station. Lentor Modern sits on a 17,279.9 sqm site with plot ratio 3.5 and incorporates about 86,100 sq ft of commercial space, while earlier condominiums in the broader Lentor vicinity include Thomson Grove from 1984 and President Gardens from 1989. The estate features greenery and pedestrian connectivity throughout.
