Sing Holdings prepares for massive Chuan Grove project after record 2025 profit on North Gaia EC
Lee Sze Hao, CEO, Sing Holdings: As the firm celebrates its strong 2025 performance, driven by North Gaia, it is also preparing for the next phase of growth. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
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Sing Holdings is preparing for its next major project which might potentially feature over a thousand apartments, after having acquired two adjacent land parcels at Chuan Grove in 2025.
After receiving in-principle approval to amalgamate the two sites, Sing Holdings plans to undertake a large-scale residential development with a gross floor area of 979,924 sq ft, the Singapore-listed property development and investment company said in a Feb 24 bourse filing as it also announced its latest financial results.
The proposed development will feature more than 1,000 apartment units and ancillary retail shops. With construction slated to begin in the second half of 2026, the company will focus its efforts over the next 12 months on the execution and launch preparation for this Chuan Grove development.
Concurrently, Sing Holdings will continue to work closely with its hotel operator to improve the performance of Travelodge Docklands, its investment property in Australia.
For 2025, Sing Holdings posted a more than 14 times increase in profit attributable to shareholders to $142.3 million. This was driven by the recognition of sales proceeds from its latest residential project, North Gaia, a 99-year leasehold executive condominium (EC) in Yishun.
Revenue was robust, comprising sales proceeds from North Gaia, which reached a key construction milestone during the year, and stable rental income from Travelodge Docklands. This was partly offset by lower sales of remaining units in a completed industrial building and a decrease in rental income from an investment property.
The exceptional performance underscores the team’s commitment to quality and dependability, said Lee Sze Hao, CEO of Sing Holdings, in the results announcement. “As we celebrate this milestone, we are also actively preparing for our next phase of growth with our new exciting development at Chuan Grove,” he added.
The board of directors proposed a final dividend of $0.01 per share and a special dividend of $0.04 per share.
In addition to the cash dividends, the board is also recommending a bonus issue to shareholders, based on one bonus share for every four existing shares held.
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