Knight Frank Commentary | GLS Tender closing for Lentor Central

Knight Frank Commentary | GLS Tender closing for Lentor Central

Tender Closing for GLS Site

Lentor Central

There were five bidders for the Lentor Central site, as the number of interested developers and the top three bids came in above expectations. This is the eighth and last site (for the moment) to be tendered out in Lentor in the Government Land Sales (GLS) programme, where since 2021, seven other sites have been sold. The earlier sites comprise Lentor Modern, Lentor Hills Residences, Hillock Green, Lentor Mansion, Lentoria and the most recently launched Lentor Central Residences. Another site at Lentor Gardens (Lentor Gardens Residences) that was awarded on 9 April 2025 has yet to launch. While the number of interested developers is the highest since the nine bids submitted when the tender closed at the first Lentor Central site in July 2021, the land rate represented by the top bid at today’s tender is the highest among all the government land sales (GLS) tenders in this neighbourhood at S$1,278 psf per plot ratio (ppr). Considering that the last three sites in Lentor that sold in the GLS programme in 2023 and 2025 were under $1,000 psf ppr, four out of five bids today were above $1,000 psf ppr. This represents developers’ confidence in demand for non-landed private homes in the area, notwithstanding that together with this eighth site, there will be over 4,000 new homes within less than a 400 m radius.  

The six projects that have been launched registered encouraging sales, with Lentor Modern, Lentor Central Residences, Lentor Hills Residences and Lentor Mansion fully sold out, and a remaining 12 and 31 units at Hillock Green and Lentoria respectively based on the January developer sales data from URA. Earlier fears of oversupply within the neighbourhood did not materialise, and Singapore residents continue to be drawn to the Lentor area as a new non-landed private home enclave.  

A top bid of S$657 million comes in quite substantially above expectations. With the top bid at a land rate of S$1,278 psf ppr, the selling prices at launch could possibly start from S$2,600 psf and average above S$2,700 psf depending on the design and finishes of the project. A unit at Lentor Central Residences was sold for S$2,586 psf in March 2025, and another at the recently completed Lentor Modern that was sold for as a subsale for S$2,582 psf in December 2025, strongly suggests that demand continues to exist for this new private home locality that is fast taking shape. If the site is awarded to the highest bidder, a new project launch in about a year’s time is expected to lead to a price increase for the Lentor neighbourhood, and a probable overall rise in the URA non-landed price index in the Outside Central Region (OCR).

The Lentor Gardens site is situated in the Ang Mo Kio planning area, within walking distance to the Lentor MRT station. Potential homebuyers would be drawn by the site’s connectivity to public transport and recreational facilities such as Thomson Nature Park, and Yio Chu Kang Stadium and Sports Complex. The site is also about 1 km from CHIJ St Nicholas Girls School, with its appeal to parents of school-going children. Demand for this site would stem mainly from local homebuyers comprising HDB upgraders from nearby Ang Mo Kio, Yio Chu Kang and Serangoon housing estates. Furthermore, retirees and older residents currently living in the landed estates around Lentor and Yio Chu Kang Road, such as the adjacent Teachers’ Estate might consider downsizing their residences as their space requirements and priorities change, serving as a source of potential buyers for the last new condominium (at least for the foreseeable future) in this location.