Eco World Development's top bid at the Lorong Puntong/Sin Ming Avenue tender sets a new land-rate record for the Rest of Central Region, with launch prices tipped from $3,000 psf.

TL;DR

  • URA's tender for the Lorong Puntong/Sin Ming Avenue GLS site closed 15 September 2026 with seven bids; this is only a tender close, not an award.
  • Malaysian, Bursa-listed developer Eco World Development topped the field at $208.099 million ($1,612 psf ppr), 11.1% above the second-highest bid.
  • If awarded, the site's roughly 140 homes could launch at $3,000-3,100 psf, according to Mogul.sg's Nicholas Mak, a new land-rate record for a GLS residential site in the Rest of Central Region.

What happened with the Lorong Puntong / Sin Ming Avenue tender?

URA released the 46,106 sq ft site, near Bright Hill MRT station and Ai Tong School in the Bishan/Ang Mo Kio area, for public tender on 25 June 2026 under the first-half 2026 Government Land Sales Programme. The tender closed at noon on 15 September 2026 with seven bids. URA has stated explicitly that this is not an announcement of tender award; a decision will follow after the bids are evaluated, with the outcome to be announced separately.

Who bid, and how much?

Eco World Development topped all seven bidders at $208.099 million, working out to $1,612 psf per plot ratio (ppr). That is 11.1% above the second-highest bid, a joint $187.33 million ($1,451 psf ppr) submission from Hong Leong Holdings and TID. Sunway MCL, EL Development, JBE Capital, a Santarli-led consortium, and Kheng Leong Co. rounded out the field, with bids ranging down to $1,256 psf ppr. The site carries a gross plot ratio of 2.8 and a maximum gross floor area of about 129,102 sq ft, translating to roughly 140 new private homes.

Why is a Malaysian developer's bid notable?

Eco World Development is listed on Bursa Malaysia, and its top bid is a reminder that Singapore's residential land market continues to draw capital from across the region, not only domestic and Hong Kong-linked players. Analysts note the site's relatively small scale made it more accessible to small and mid-sized developers rather than the largest local groups, even though a smaller project will not benefit much from economies of scale in construction. This bid follows a string of aggressive GLS results this quarter, including the record $1.43 billion New Upper Changi Road site in Bedok, which URA has already confirmed was awarded, and comes as HDB's own income ceiling increase widens who can buy into the November BTO launch, potentially redirecting some demand toward the resale and private markets.

What could future homes on this site cost?

Nicholas Mak, chief research officer at Mogul.sg, estimates a launch price of $3,000-3,100 psf if the tender is awarded to Eco World, which would sit close to Dunearn House's $3,140 psf average when it launched in Bukit Timah in July. Mak also flags the bid as a new record land rate for a GLS residential site in the Rest of Central Region, just 0.3% below the $1,616.77 psf ppr UOL Group paid for the Core Central Region's Orchard Boulevard site in February 2024.

What does this mean for buyers and investors in Bishan and Ang Mo Kio?

The site sits less than 500m from Thomson Reserve, the 1,240-unit project rising on the former Thomson View collective sale site, and near established resale condos including Jadescape and Artisan 8, the latter of which launched at an average $2,388 psf in August 2025. Resale HDB flats in the area have also climbed: from January to August 2026, median resale prices for four- and five-room flats reached $788,000 and $970,000 in Bishan, and $632,500 and $1,015,000 in Ang Mo Kio. Industry analysts caution that a high land cost does not guarantee buyers will accept a matching launch price, given prevailing mortgage rates and broader affordability pressures.

Frequently Asked Questions

Has the Lorong Puntong / Sin Ming Avenue site been awarded yet?

No. URA has confirmed only that the tender closed on 15 September 2026; award of the site will be announced separately after bid evaluation.

How much did Eco World Development bid, and how does it compare to rivals?

$208.099 million, or $1,612 psf ppr, 11.1% above the next-highest bid of $187.33 million ($1,451 psf ppr) from Hong Leong Holdings and TID.

What could new homes on this site cost when launched?

Analyst estimates point to $3,000-3,100 psf if the site is awarded to Eco World Development, though this is not confirmed and depends on the eventual award and market conditions at launch.

Sources and Method

This article draws on URA's official press releases (25 June 2026 and 15 September 2026) and Stacked Homes' reporting (15 September 2026), which cites commentary from Newmark, Mogul.sg, ERA Singapore and Realion (OrangeTee & ETC). Bid figures and launch-price estimates are as reported by these sources; the tender has not yet been awarded, and actual outcomes may differ.