Chencharu Close GLS at a glance
The Chencharu Close GLS site was the first private residential land parcel in Chencharu, a new 70-hectare HDB estate in Yishun. HDB launched it as a mixed-use site under the Government Land Sales programme. The conditions required the winning developer to build a bus interchange and a hawker centre as part of the project. The tender closed on 11 September 2025 and the site was awarded on 26 September 2025.
| Site | Chencharu Close, Yishun |
|---|---|
| Site area | About 29,450 sqm (about 317,000 sq ft) |
| Gross plot ratio | 3.26 |
| Estimated homes | About 875 |
| Commercial | Up to about 12,600 sqm, including a hawker centre (about 3,500 sqm) and a bus interchange (about 5,400 sqm) |
| Tenure | 99 years |
| Awarded | 26 September 2025 |
The three bids
Bids in S$ psf ppr. Source: HDB tender results as reported in the press.
The winning bid was about 19.8% above the second bid and about 46% above the lowest. A gap that wide usually means the winner sees more value in the site than its rivals do. Here, that likely came from the integrated bus interchange and hawker centre, the limited private supply in Chencharu, and steady demand from Yishun's large base of HDB upgraders.
What analysts said
PropNex's head of research and content, Wong Siew Ying, said she expected the homes to sell at an average above S$2,300 psf. CBRE's head of research for Southeast Asia, Tricia Song, did not give a price forecast. She pointed to the Tampines Avenue 11 site, now Parktown Residence, as the most recent comparable integrated site. Since then, agencies have generally worked with a range of about S$2,200 to S$2,500 psf.
From land price to launch price
Land is only part of a developer's cost. A simple way to estimate the break-even price is:
| Cost item | Rough psf |
|---|---|
| Land (S$980 psf ppr) | S$980 |
| Construction, including the commercial and transport components | S$500 to S$600 |
| Financing, fees, marketing, taxes and contingency | S$300 to S$400 |
| Indicative break-even | About S$1,800 to S$2,000 |
An illustrative industry rule of thumb, not the developer's figures.
Add a typical developer margin and you arrive near the analyst range. The final Chencharu Central Residences price will also depend on competing launches in 2027 and on interest rates.
What it means for buyers
- The land price sets a floor. Developers rarely launch below break-even, so very low prices are unlikely.
- Integrated projects tend to be priced at a premium to standalone condos nearby. You are paying for transport and food convenience.
- With 875 homes, there will be a wide spread of prices. Lower floors and less popular facings can offer better value than the headline average.
Want the price list as soon as it is out? Register your interest.
Frequently Asked Questions
Who won the Chencharu Close GLS tender?
A consortium of Evia MCS, Gamuda (Singapore) and H108 (Ho Lee Group), with a bid of about S$1.012 billion, or S$980 psf ppr. HDB awarded the site on 26 September 2025.
How many bids did the Chencharu Close site receive?
Three. The other bids came from a Frasers Property, Mitsubishi Estate and Lum Chang consortium (S$845 million, S$818 psf ppr) and Sim Lian Group (S$692.4 million, S$670 psf ppr).
Why was the Chencharu Close site sold by HDB, not URA?
The site is in an HDB town and includes public facilities, a bus interchange and a hawker centre, that HDB planned for the Chencharu estate. HDB acts as the land sales agent for such sites under the Government Land Sales programme.
What is psf ppr?
Price per square foot per plot ratio, the land price divided by the maximum gross floor area allowed. It lets you compare land costs between sites of different sizes and densities.