The tender for the Lorong Puntong and Sin Ming Avenue site closed on 15 September with 7 bids. Malaysian developer Eco World Development topped it at $208,099,000, or $1,612 psf per plot ratio.
That is the first residential government land sale site Bishan has sold since 2015, and Lorong Puntong went at a rate nobody forecast. Analysts had called $1,350 to $1,500.
It also lands 4 weeks before the largest launch the area has seen in years opens its doors 400m from Lorong Puntong.
Here is the full Lorong Puntong tender result, straight from the URA release.
| # | Tenderer | Bid | $ psf ppr |
| 1 | Eco World Development (S) | $208,099,000 | $1,612 |
| 2 | Intrepid Investments and TID Residential | $187,330,000 | $1,451 |
| 3 | SMCL Oasis | $185,380,000 | $1,436 |
| 4 | EL Development | $182,100,000 | $1,410 |
| 5 | JBE Capital | $173,292,200 | $1,342 |
| 6 | SNC3 Realty, HS Invesco and Kay Lim Realty | $168,888,000 | $1,308 |
| 7 | Peak Valley | $162,150,000 | $1,256 |
2 things stand out.
The gap at the top is 11.1%. Eco World did not edge this one. It paid $20.8 million more than the Hong Leong and TID joint venture behind it, which is a big margin on a site the size of Lorong Puntong.
And Lorong Puntong is Eco World’s first Singapore land bid. The group has sold Malaysian, London and Australian projects out of a Singapore gallery since 2015, but it has never built here. A first-time bidder clearing the field by double digits is how a developer buys its way into a market.
The 6 bids below the winner cluster between $1,256 and $1,451, which is roughly where the market thought this site was worth. The winning number is the outlier, and outliers set price expectations anyway.
The Lorong Puntong plot is small. 4,283.4 sqm of land, a maximum gross floor area of 11,994 sqm, and a plot ratio of 2.8. URA expects about 140 homes on a 99-year lease.
The attributes are the reason Lorong Puntong drew a crowd:
That plot ratio of 2.8 matters. It is a good deal denser than what sits around it, and it is why 140 homes fit on a site of this size.
The last residential government land sale site in the Bishan planning area was awarded in 2015. It became Thomson Impressions, 288 units, completed 2018.
That is an 11-year gap before Lorong Puntong. In the same period Lentor alone absorbed 9 sites.
New private supply in the immediate area since has been almost nothing. Artisan 8 is a 34-unit freehold mixed development that launched in August 2025, and it has sold 22 of those 34 at an average of about $2,388 psf. Before that you go back to JadeScape in 2018.
So a developer looking at Lorong Puntong sees an area with strong schools, a train line, a mall across the road, and nothing built in it for a decade. That is the case for bidding 11% above the next bidder.
Wondering what this does to a home you already own in Bishan? Send me a message on WhatsApp and I will pull the transactions for your block.
A land bid is not a price list, but it sets a floor, and Lorong Puntong just set a high one. The cleanest way to read it is the gap between what a developer paid for land and what it eventually charged per square foot.
Across 7 recent launches sold under harmonised floor area rules, using every recorded new sale at each:
| Project | Land ($ psf ppr) | Average launch psf | Gap |
| The Orie | 1,360 | 2,730 | 1,370 |
| Skye at Holland | 1,285 | 2,946 | 1,661 |
| Zyon Grand | 1,202 | 3,056 | 1,854 |
| Penrith | 1,154 | 2,796 | 1,642 |
| Emerald of Katong | 1,069 | 2,640 | 1,571 |
| Lentor Central Residences | 982 | 2,222 | 1,240 |
| Springleaf Residence | 905 | 2,178 | 1,273 |
The gap covers construction, finance, marketing and profit. It runs from $1,240 to $1,854, and it is not random. The 2 lowest sit in the Lentor and Springleaf corridor, where developers priced to move volume. The higher ones are smaller, better-specified projects closer to town.
A 140-unit site in Bishan with a school opposite belongs in the upper half of that range, and Lorong Puntong is exactly that. Add $1,370 to $1,642 to $1,612 and the Lorong Puntong project lands at roughly $2,980 to $3,250 psf.
Treat that as a planning band rather than a forecast. Nothing has been designed, let alone priced, and the developer has never built in Singapore before.
400m away, Thomson Reserve previews from 16 October with 1,268 homes. Its own land came from the Thomson View collective sale at a headline $1,178 psf ppr.
Set Lorong Puntong and Thomson Reserve side by side and the headline comparison is misleading.
| Lorong Puntong | Thomson Reserve | |
| Land | $1,612 psf ppr | $1,178 psf ppr, headline |
| Homes | about 140 | 1,268 |
| Plot ratio | 2.8 | 2.1 |
| Lease | fresh 99 years | topped up |
| Site | cleared, state land | old blocks demolished |
Thomson Reserve’s $1,178 is what was paid to the previous owners. Once the lease top-up, the premium to intensify the site, harmonisation and demolition go on top, our read puts its all-in land cost nearer $1,500 to $1,700. The Lorong Puntong site cost $1,612 with none of those items attached.
In other words Lorong Puntong and Thomson Reserve cost roughly the same, and the cheap-land story told about Thomson Reserve does not survive contact with the plot down the road.
What it does change is the order of the queue. Thomson Reserve launches on 31 October. The Lorong Puntong project will not see a showflat before 2028. Anyone buying in this pocket over the next 2 years is buying Thomson Reserve, and they now have a public number showing what the next project has to charge.
3 practical reads.
Lorong Puntong just handed existing owners a new benchmark. JadeScape set its record in July at $3.055 million for a 1,152 sqft 3-bedroom, which is $2,653 psf. A new project pricing near $3,000 psf makes that record look like the cheaper way into the area rather than the top of it.
Buyers waiting for the next launch will wait a long time. 140 Lorong Puntong homes arriving in 2029 or 2030 does not fix an 11-year supply gap, and it is a small project with no mall of its own.
The 1km ring is the whole story here. Ai Tong sits opposite the site and inside Thomson Reserve’s ring too. If you are buying for the school, you now have 2 projects competing for the same address, and only 1 of them has a price list this year.
For the wider picture, the Bishan condo guide covers all 34 projects and the Upper Thomson condo guide covers the road itself. The 2026 GLS land bids piece tracks every site sold this year.
Eco World Development (S) Pte. Ltd., with a bid of $208,099,000, or $1,612 psf per plot ratio. It was the highest of 7 bids and 11.1% above the second-placed offer.
URA expects about 140 on a 99-year lease, on a site of 4,283.4 sqm with a maximum gross floor area of 11,994 sqm.
At the junction of Lorong Puntong and Sin Ming Avenue, in the Bishan planning area. Bright Hill MRT is a 5-minute walk and Ai Tong School is directly opposite.
Nothing is priced yet. On the gap between land cost and launch price at 7 recent harmonised launches, roughly $2,980 to $3,250 psf is the planning band.
Dearer on the headline, $1,612 against $1,178. Once Thomson Reserve’s lease top-up, intensification premium, harmonisation and demolition are added, the 2 sites cost much the same.
No date has been set. A site awarded in late 2026 would normally preview in 2028 at the earliest.
Source for the Lorong Puntong tender result: Urban Redevelopment Authority. One land bid does not move a market, but it does tell you what the next developer thinks your neighbourhood is worth — and this one paid 11% over the field to find out. If you are weighing Thomson Reserve against waiting, message me on WhatsApp and I will run your numbers.
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