The Hougang Central site could be the first fully integrated mixed use development above a MRT interchange. This will be the first major mall to serve Hougang estate.
Such sites offer connectivity and convenience and sell well on launch weekend. For example, PARKTOWN Residence sold more than 87% of its 1,193 units during the launch weekend in Feb 2025.
Due to the large gross floor area of more than 1 million sq ft, joint ventures from developers are likely.
The large quantum and complexity of developing a fully integrated mixed use development may see not more than 3 bidders and a top bid between $800 and $900 psf ppr.
The Sembawang Road (EC) site is in a private residential enclave. ECs are usually in HDB neighbourhoods and seldom in a private residential enclave.
The site is about 500m away from Canberra MRT station which is extremely rare for EC projects. Huttons Data Analytics estimate only 8 out of 71 completed EC projects are within 500m of a MRT station.
The last land parcel sold for EC project in Sembawang was in 2019. Recent EC project launches have seen very strong demand. For example, Aurelle of Tampines was sold out in a month. There is no available supply of EC in the North and this EC site will satisfy the upgrading demand from more than 3,000 flats that will or has fulfilled the 5-year MOP in recent years.
The site may attract up to 8 bidders and a top bid between $600 and $700 psf ppr.
