Eco World Development has taken the 99-year site at Lorong Puntong / Sin Ming Avenue for $208.1 million, a land rate of about $1,612 psf ppr, which is likely to set a floor under the price of whatever gets built there.
haioURA has awarded the Lorong Puntong / Sin Ming Avenue site to Eco World Development (S) Pte. Ltd. at $208,099,000, or about $1,612 psf ppr. That is the land cost alone, for a residential plot in Bishan.
The site went to tender on 25 Jun 2026 and closed on 15 Sept 2026. It is residential, on a 99-year lease.
| Item | Detail |
|---|---|
| Location | Lorong Puntong / Sin Ming Avenue |
| Allowable development | Residential |
| Tenure | 99-year lease |
| Site area | 4,283.4 sqm |
| Maximum permissible GFA |
| 11,994 sqm |
| Successful tenderer | Eco World Development (S) Pte. Ltd. |
| Tendered price | $208,099,000 ($17,350.26 per sqm of GFA) |
| Tender closed | 15 Sept 2026 |
Source: URA.
Government Land Tenders — psf ppr
Source: URA and HDB tender results, Sept 2025 to Sept 2026.
On haio's count of URA and HDB tender results, only four of the other 19 residential, EC and mixed-use awards in the 12 months to 18 Sept 2026 went for more. The median of the other 19 is $1,415 psf ppr, so Eco World paid about $200 psf ppr above the middle of the market for a Bishan site.
Eco World has committed $208.1 million on the view that the finished homes can sell for enough to cover land, build cost and a margin. Land at roughly $1,612 psf ppr means the eventual launch is likely to be priced comfortably above that, because everything else in the stack sits on top of it.
Breakeven Ladder (haio estimates)
Source: haio estimates; land rate from the URA award.
haio estimates the breakeven at about $2,410 psf. A 15% margin on top would take a launch to about $2,771 psf.
Nearby Projects vs the Breakeven Ladder
Source: URA caveats, 12 months to 18 Sept 2026.
In URA caveat records, only Amo Residence, at $2,524 psf on 35 sub-sale caveats, trades above the estimated breakeven. The older resale condos around the site sit well below it.
If you are house-hunting in Bishan, that is your early warning on pricing: a launch here is likely to be priced against the area's newest stock, not its older resale condos. If you already own nearby, a new 99-year project on this plot could become the fresh reference point buyers and agents quote in the area, which can cut both ways for a resale unit that is older and shorter on lease.
The bid says a real developer, with real money, likes Bishan at this price. That is a genuine vote of confidence in the area, and buyers should treat it as one. It also points to a floor on pricing: a project built on $1,612 psf ppr land is unlikely to launch cheap, and the developer's margin is likely to be built into the launch price. Wait for the actual launch price before deciding whether the area's fundamentals justify it.
To see how this plot fits the pipeline of new homes against buyer demand, check supply and demand on haio.
Estimate only, not financial advice. A model-generated guide from public data, not a formal valuation; actual prices and bank valuations may differ, so verify before acting. haio accepts no liability for decisions made in reliance on it.