{"id":3790,"date":"2025-04-04T09:54:57","date_gmt":"2025-04-04T01:54:57","guid":{"rendered":"https:\/\/thedunmangrand.sg\/?p=3010"},"modified":"2025-04-04T09:54:57","modified_gmt":"2025-04-04T01:54:57","slug":"kingsford-emerges-top-bidder-for-lentor-gardens-site-with-s920-psf-ppr-offer","status":"publish","type":"post","link":"https:\/\/pinegroveresidence.sg\/navagrove\/kingsford-emerges-top-bidder-for-lentor-gardens-site-with-s920-psf-ppr-offer\/","title":{"rendered":"Kingsford Emerges Top Bidder for Lentor Gardens Site with S$920 psf ppr Offer"},"content":{"rendered":"<p class=\"\" data-start=\"332\" data-end=\"624\">In a closely watched state land tender, Kingsford Group has emerged as the highest bidder for a private residential site at Lentor Gardens, with an offer of S$964 million, translating to S$920 per square foot per plot ratio (psf ppr).<\/p>\n<p class=\"\" data-start=\"626\" data-end=\"840\">This bid marks a significant moment for Singapore\u2019s housing market, reaffirming developer confidence despite cautious sentiment around the Lentor precinct, which has seen multiple land launches in recent years.<\/p>\n<hr class=\"\" data-start=\"842\" data-end=\"845\" \/>\n<h3 class=\"\" data-start=\"847\" data-end=\"889\">Details of the Lentor Gardens Site<\/h3>\n<ul data-start=\"891\" data-end=\"1181\">\n<li class=\"\" data-start=\"891\" data-end=\"952\">\n<p class=\"\" data-start=\"893\" data-end=\"952\">Location: Lentor Gardens (Government Land Sales site)<\/p>\n<\/li>\n<li class=\"\" data-start=\"953\" data-end=\"988\">\n<p class=\"\" data-start=\"955\" data-end=\"988\">Top Bidder: Kingsford Group<\/p>\n<\/li>\n<li class=\"\" data-start=\"989\" data-end=\"1026\">\n<p class=\"\" data-start=\"991\" data-end=\"1026\">Bid Amount: S$964 million<\/p>\n<\/li>\n<li class=\"\" data-start=\"1027\" data-end=\"1069\">\n<p class=\"\" data-start=\"1029\" data-end=\"1069\">Unit Land Price: S$920 psf ppr<\/p>\n<\/li>\n<li class=\"\" data-start=\"1070\" data-end=\"1125\">\n<p class=\"\" data-start=\"1072\" data-end=\"1125\">Land Area: Approximately 51,411.9 square metres<\/p>\n<\/li>\n<li class=\"\" data-start=\"1126\" data-end=\"1181\">\n<p class=\"\" data-start=\"1128\" data-end=\"1181\">Maximum Gross Floor Area: 104,966 square metres<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"1183\" data-end=\"1360\">The 99-year leasehold plot is designated for private housing and can accommodate up to 530 residential units, according to the Urban Redevelopment Authority (URA).<\/p>\n<p class=\"\" data-start=\"1362\" data-end=\"1606\">This is Kingsford\u2019s second site in the Lentor area. The group previously won the Lentor Hills Road (Parcel A) site in 2022, where it is currently developing <a href=\"https:\/\/lentorcollection.sg\/lentor-hills-residences\/\" target=\"_blank\" rel=\"noopener\">Lentor Hills Residences<\/a> in collaboration with Hong Kong-based MCC Land.<\/p>\n<hr class=\"\" data-start=\"1608\" data-end=\"1611\" \/>\n<h3 class=\"\" data-start=\"1613\" data-end=\"1658\">Muted Interest Despite Prime Location<\/h3>\n<p class=\"\" data-start=\"1660\" data-end=\"1905\">While Kingsford submitted the top bid, the site drew only two bids, indicating cooling demand for sites in the Lentor area. Analysts believe this reflects market saturation and developers\u2019 caution after a series of nearby land sales.<\/p>\n<p class=\"\" data-start=\"1907\" data-end=\"2061\">The second bid came from a joint venture between GuocoLand and Hong Leong Holdings, which offered S$910 psf ppr, just below Kingsford\u2019s offer.<\/p>\n<hr class=\"\" data-start=\"2063\" data-end=\"2066\" \/>\n<h3 class=\"\" data-start=\"2068\" data-end=\"2106\">What This Means for the Market<\/h3>\n<p class=\"\" data-start=\"2108\" data-end=\"2309\">Property analysts note that Kingsford\u2019s bid is considered \u201cmeasured,\u201d given the slower sales observed in the Lentor precinct and broader concerns over high interest rates and buyer fatigue.<\/p>\n<p class=\"\" data-start=\"2311\" data-end=\"2542\">Despite these challenges, Kingsford\u2019s interest suggests a long-term outlook on the area\u2019s potential, buoyed by the presence of the Lentor MRT station and the transformation of the Lentor area into a new residential enclave.<\/p>\n<hr class=\"\" data-start=\"2544\" data-end=\"2547\" \/>\n<h3 class=\"\" data-start=\"2549\" data-end=\"2589\">Background: Lentor Land Releases<\/h3>\n<p class=\"\" data-start=\"2591\" data-end=\"2914\">The government has launched six residential sites in the Lentor area since 2021, aiming to create a new housing cluster in Singapore\u2019s North Region. However, some recent projects, including <a href=\"https:\/\/lentorcollection.sg\/lentor-modern\/\" target=\"_blank\" rel=\"noopener\">Lentor Modern<\/a> and <a href=\"https:\/\/lentorcollection.sg\/lentor-hills-residences\/\" target=\"_blank\" rel=\"noopener\">Lentor Hills Residences<\/a>, have experienced moderate sales momentum compared to earlier launches.<\/p>\n<hr class=\"\" data-start=\"2916\" data-end=\"2919\" \/>\n<h3 class=\"\" data-start=\"2921\" data-end=\"2942\">Looking Ahead<\/h3>\n<p class=\"\" data-start=\"2944\" data-end=\"3242\">The outcome of this latest tender will influence how developers approach future land bids in Lentor and similar areas. With Kingsford now doubling down on its investment in the precinct, all eyes will be on how well the upcoming project performs in a market that\u2019s watching for signs of recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a closely watched state land tender, Kingsford Group has emerged as the highest bidder for a private residential site at Lentor Gardens, with an offer of S$964 million, translating to S$920 per square foot per plot ratio (psf ppr). This bid marks a significant moment for Singapore\u2019s housing market, reaffirming developer confidence despite cautious [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3791,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-3790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-property-news"],"_links":{"self":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts\/3790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/comments?post=3790"}],"version-history":[{"count":0,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts\/3790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/media\/3791"}],"wp:attachment":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/media?parent=3790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/categories?post=3790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/tags?post=3790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}