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Kingsford Group has emerged as the highest bidder for a prime private housing site at Lentor Gardens, submitting a bid of S$429.23 million, which translates to S$920 per square foot per plot ratio (psf ppr).
The only competing bid came from a consortium comprising Intrepid Investments, TID Residential, and CSC Land Group (Singapore), which placed a slightly lower bid of S$422.22 million (S$905 psf ppr).
The 99-year leasehold plot, which spans 20,639.4 square metres (sq m), has the potential to yield around 500 private residential units. It offers a maximum gross floor area of 466,540 square feet (sq ft), with a mandatory 6,458 sq ft allocated for an early childhood development centre.
This site is the seventh land parcel released by the Urban Redevelopment Authority (URA) in the emerging Lentor Hills estate, a new residential enclave designed to be sustainable and pedestrian-friendly, surrounded by lush greenery.
The Lentor area has been gaining popularity among homebuyers due to its proximity to the Lentor MRT station on the Thomson-East Coast Line, as well as the increasing availability of residential, retail, and recreational options.
The estate is also well-positioned near reputable schools, including:
Presbyterian High School
Anderson Primary School
CHIJ St Nicholas Girls’ School
A spokesperson for Kingsford Group expressed excitement about the opportunity to develop a 500-unit residential project in the up-and-coming Lentor neighbourhood.
“If awarded the site, this project would be our seventh residential development in Singapore,” the spokesperson stated, highlighting the group's growing presence in the local property market.
The Lentor Gardens site marks the seventh land parcel sold in the Lentor precinct. Out of the six sites transacted so far, five were acquired by Guocoland, Hong Leong Holdings, and TID, either individually or as part of a consortium.
The latest tender from Kingsford Group reflects continued developer confidence in Lentor’s transformation into a vibrant residential hub, noted Mr Chia JT, Managing Director of Propertyforsale.com.sg.
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