The Lentor Central site closed on March 3, with GuocoLand, Intrepid, TID consortium submitting the top bid of $657.1 million. (Photo: EdgeProp LandLens)
The tender for a government land sale (GLS) site at Lentor Central closed on Mar 3, drawing five bids. A consortium comprising GuocoLand, Intrepid Investments and TID emerged as the highest bidder, submitting an offer of $657.1 million, which translates to a land rate of $1,278 psf per plot ratio (ppr).
According to GuocoLand’s spokesperson, “The Lentor Central site is one of the best sites in the estate.”
The consortium’s bid is 5.7% more than the second-highest offer of $621.5 million ($1,208 psf ppr), which was submitted by Frasers Property, Soilbuild and Sekisui House.
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Other offers included bids from Kingsford Group ($1,130 psf ppr), China Overseas Land and Investment (COLI) ($1,052 psf ppr) and Peak Valley (Kheng Leong Co) ($950 psf ppr).
The lowest bid, from Kheng Leong Co, stood at $488.33 million. There is a 10.8% difference between the highest and lowest bids.
Justin Quek, deputy CEO of Realion (OrangeTee & ETC), notes that the top bid is the highest land rate ever submitted in comparison to other Lentor Hills land parcels previously sold. He attributes the high demand to its locale and it being the last announced plot for sale in the area.
The top bid is also 6.1% above the previous high of $1,204 psf ppr achieved at the first Lentor Central GLS site, which was zoned for residential use with commercial at the first storey, says Tricia Song, head of research, Singapore and Southeast Asia, CBRE.
The tender for this Lentor Central GLS site was launched in December last year, under the 2H2025 GLS programme. The 99-year leasehold site spans 171,428 sq ft and is zoned for residential use. GuocoLand intends to develop it into three residential towers of about 27-storeys high, with up to 562 units.
Due to the openness of the site, most of the units in the development will have unblocked views of the landed housing estate, Lower Seletar Reservoir or Lower Peirce Reservoir, the developer says. The site is also a short walk away from Lentor MRT station (Thomson East-Coast Line) and close to Lentor Modern Mall.
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This is the eighth GLS site to be launched in the Lentor Hills estate. The most recent site sold in the vicinity was a plot on Lentor Gardens, with the tender awarded to Kingsford Group in April 2025 for $429.23 million ($920 psf ppr). The Lentor Gardens GLS site’s tender had drawn just two bids. The upcoming condo on the site, which can yield about 500 units, is expected to launch this year.
“Securing the Lentor Central site could be viewed as a strategic replenishment of GuocoLand’s development pipeline, ensuring continuity in its future launch schedule”, says Mohan Sandrasegeran, head of research and data analytics, SRI.
He adds that the relatively strong bid at $1,278 psf ppr reflects a combination of confidence in the Lentor area and familiarity with buyer demand patterns in the precinct. Having successfully tested pricing thresholds and absorption rates in previous Lentor projects, GuocoLand may have greater clarity on achievable selling prices and product positioning.
Besides this site, GuocoLand and Hong Leong Holdings are jointly-developing Lentor Central Residences and Lentor Hills Residences. The fully-sold out Lentor Modern is also developed by GuocoLand.
According to Propnex, Lentor Modern has achieved an average sub-sale unit price of $2,351 psf in 2025, and $2,360 psf in 2026, based on caveats lodged on Feb 20.
“This may also have given developers a measure of confidence as it indicates that buyers have demonstrated willingness to transact at these price points in the locale,” says Wong Siew Ying, head of research and content, Propnex.
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Including the latest Lentor Central plot, GuocoLand with its JV partners — Intrepid, TID and CSC Land — have submitted the top bid for six out of eight parcels in Lentor, showcasing their confidence in this area, says Mark Yip, CEO of Huttons Asia.
According to SRI, the increase in GLS supply within the Lentor precinct can be seen as a calibrated move to support measured and sustainable residential expansion.
By releasing sites progressively, the authorities are facilitating the gradual build-up of housing stock in tandem with infrastructure readiness, transport connectivity and the growth of supporting amenities. This approach helps to foster a stable development pipeline while minimising the risk of supply distortions, notes SRI.
The robust take-up rates achieved across successive launches reflect genuine owner-occupier demand rather than speculative activity.
Most notably, Lentor Central Residences achieved a 93% take-up rate at launch, underscoring buyers’ confidence in the precinct’s long-term liveability and value proposition, says Marcus Chu, CEO of ERA Singapore.
Leonard Tay, head of research, Knight Frank posits that with the top bid at a land rate of S$1,278 psf ppr for the latest Lentor Central GLS site, the selling prices at launch could possibly start from S$2,600 psf and average above S$2,700 psf depending on the design and finishes of the project.