Loyang Valley in Pasir Ris has been sold en bloc for $880 million on its third attempt, making it the largest collective sale deal so far this year.

The deal follows the $391.9 million sale of the rear block of The Centrepoint in February.

The latest tender for Loyang Valley closed on Feb 10, followed by a 10-week private treaty period. On April 17, ahead of the close of the private treaty period, a consortium led by SingHaiyi Group announced that it had secured the site for $880 million — the same price at which it was relaunched on Jan 8.

The $880 million price tag, unchanged from the reserve price indicated in its January 2026 relaunch, translates to $940 psf per plot ratio (psf ppr) after factoring in an estimated $226 million in land betterment charges and a $246 million lease upgrading premium. The sale was brokered by Terence Lian, head of investment sales at Huttons Asia. Meanwhile, Lee Liat Yeang, senior partner at Dentons Rodyk, represented the buyers.

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Loyang Valley can potentially be redeveloped into a new residential project of 1,249 units (Source: EdgeProp Landlens)

Under the Draft Master Plan 2025, the site is zoned “Residential” with a gross plot ratio of 1.6, translating to about 1.35 million sq ft of gross floor area (GFA). Based on an average unit size of 100 sqm (1,076 sq ft), the site could yield about 1,249 units.

The existing Loyang Valley has a 99-year lease from 1982, with about 55 years remaining, and is prized for its tranquil, low-density setting. Its 362 units are spread across 12 blocks of four to seven storeys, with warm red-brick façades, expansive balconies and lush, mature landscaping.

The site’s appeal was enhanced by an uplift in the height limit from 40m to 50m, granted by the Civil Aviation Authority of Singapore in August 2025, allowing redevelopment of up to 12 storeys.

“This transaction reflects not only the intrinsic value of Loyang Valley, but also the importance of clarity and alignment in today’s market environment," says Lian of Huttons Asia. "The timely guidance from the authorities provided greater certainty for all parties, which was instrumental in allowing the deal to move forward with confidence.”

At 840,648 sq ft, the site is believed to be the second-largest residential plot in the east after Mandarin Gardens, a 1,006-unit development on a 1.08 million sq ft site.

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Owners of Loyang Valley will walk away with proceeds ranging from $1.67 million ($1,668 psf) for a 1,001 sq ft unit to nearly $3.91 million ($1,195 psf) for the largest unit of 3,272 sq ft from the collective sale. Based on caveats lodged for units sold at Loyang Valley last year, prices ranged from $1.9 million ($959 psf) for a 1,981 sq ft unit on the first level to $1.08 million ($1,079 psf) for a 1,001 sq ft unit on the second level.

Huttons' Lian acknowledges that "continued clarity and collaboration in regulatory requirements" will be key to strengthening market confidence and enabling a smoother collective sale process, ultimately unlocking value for owners and supporting "Singapore’s long-term urban renewal objectives".

The acquisition marks 30-year-old Gallant Tang’s first collective sale deal since taking on the group CEO role at SingHaiyi a year ago. He recently oversaw the preview of the 515-unit Vela Bay — the first private residential project in the new Bayshore precinct — which is slated for launch on April 25. The sales gallery drew nearly 8,000 visitors during its debut weekend on April 11–12.

“SingHaiyi is pursuing the Loyang Valley site because, like Vela Bay, which is experiencing strong interest, the site is anchored by strong East Coast fundamentals and has clear, compelling long-term potential,” says Tang.

He adds that the future development will benefit from proximity to key lifestyle amenities, including two primary schools within 1km, upcoming transport infrastructure such as Loyang MRT Station and the Changi Northern Corridor, as well as major employment drivers like Changi Airport Terminal 5.

“Just as importantly, the site’s land area of over 840,000 sq ft gives us a rare opportunity to create a distinctive living concept -- one that enhances the residential experience in a way that is increasingly hard to find today,” Tang comments.

Read also: Vela Bay: First luxury seaview condo launch in new Bayshore precinct

SingHaiyi is no stranger to developing large-scale projects.

In July 2023, it launched the 1,008-unit Grand Dunman in District 15, which is about 90% sold at an average price of $2,518 psf.

Prior to that, the group developed the 1,468-unit Parc Clematis in Clementi, which was fully sold and completed in 2023. The project was built on the former Park West condominium site, which SingHaiyi acquired en bloc for $840.9 million in January 2018.

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