UOL and CapitaLand have successfully secured the Government Land Sales (GLS) site at Hougang Avenue 10/Hougang Central with a top bid of $1,179 per square foot per plot ratio. This marks their second joint venture following the successful launch of PARKTOWN Residence. The site, which will feature a fully integrated transport hub (ITH), attracted only three bidders due to its large gross floor area of over 1 million square feet and a development cost exceeding $1 billion.
The Hougang site is set to become the first major mall serving the large Hougang town, which is the third largest along the Northeast Line (NEL) after Sengkang and Punggol. With nearly 60,000 dwelling units, the area presents a significant pool of potential HDB upgraders. The development will also benefit from proximity to amenities such as Hougang Stadium, Hougang Sports Centre, and several primary schools.
Mark Yip, CEO of Huttons Asia, noted the strong bid reflects developers’ confidence in the appeal of ITHs, which are highly sought after for their convenience, rarity, and potential for capital appreciation. He highlighted the success of PARKTOWN Residence, which sold over 87% of its units during its launch weekend in February 2025.
The Hougang site will join the ranks of 12 ITHs in Singapore, contributing to a total of 8,790 residential units. As the fifth ITH along the NEL, it underscores the growing trend of integrated developments in the city-state.
