GLS 2025

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The mixed-use site at Hougang Central is 504,805 sq ft and zoned for “commercial and residential” use with a gross plot ratio of 2.5. (Source: EdgeProp Landlens)

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https://www.edgeprop.sg/property-new...sembawang-road

Mixed-use site at Hougang Central
The mixed-use site at Hougang Central has the potential to be the first fully integrated mixed-use development above a MRT interchange, and may be the first new major shopping mall to serve residents in the Hougang estate, says Marcus Yip, CEO of Huttons Asia.

The site is above Hougang MRT Station on the North-East Line, and the station will be turned into an MRT interchange when the Cross-Island Line is operational by 2030. A new bus interchange is also in the works. Chu notes that the development will likely become a key transport hub within the neighbourhood, heightening its overall appeal.
Quek anticipates strong pent-up demand for new private homes around the site due to the lack of any new private residential projects in the area in recent years. The most recent non-landed GLS site awarded in the vicinity was won by Hong Kong property developer Cheung Kong Property Holdings in 2014. The site was developed into the 390-unit Stars of Kovan on Upper Serangoon Road, after the developer submitted the top bid of $848.84 psf ppr.
Quek anticipates one to two bidders for the Hougang Central site, with the highest bid ranging from $880 to $1,000 psf ppr. Meanwhile, Chu expects developers to enter the tender as a consortium or joint venture given the size of the Hougang Central plot and mix of residential and commercial elements.

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