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Consortium comprising Evia, Gamuda and Ho Lee places top bid of $1.01b for Yishun site
The Straits Times
|September 12, 2025
A mixed-use commercial and residential site in Chencharu Close, near the Khatib MRT station, has drawn three bids in a state tender that closed on Sept 11.
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A consortium comprising the entities of Evia Real Estate, Malaysian group Gamuda and Ho Lee Group placed the top bid of slightly more than $1.01 billion, which works out to about $980 per square foot per plot ratio (psf ppr).
Frasers Property teamed up with Mitsubishi Estate and Lum Chang Building Contractors to offer $845 million or about $818 psf ppr.
The third bid, from Sim Lian Land and Sim Lian Development, was $692.4 million or $670 psf ppr.
The 99-year leasehold plot is expected to yield some 875 private homes. The development will be integrated with a bus interchange and a hawker centre.
It will also include up to 135,625 sq ft in gross floor area (GFA) of commercial space that may be used for retail. The commercial component has to be held as a single strata lot; strata subdivision will not be allowed.
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