BUYER GUIDE · OFFICIAL TENDER DATA

Hougang Central Land Price: What S$1,179 psf ppr Means for Buyers

The developers paid about S$1.5 billion for the Hougang Central site. This guide explains what that land price is, how it compares with other mixed-use sites sold by HDB, and why it cannot tell you the launch price.

By Melvin Tan, ERA Realty Network (CEA R026686A) · Updated 12 November 2026

What did the developers pay for the Hougang Central site?

S$1,500,738,338. HDB awarded the site on 14 January 2026 to Horizon Residential and Horizon Commercial Trustee, the companies set up by CapitaLand Development, the UOL consortium and CapitaLand Integrated Commercial Trust (CICT). Spread over the floor area allowed on the site, that works out to about S$1,179 per square foot per plot ratio.

The Hougang Central land sale, from HDB's tender records
Item	Detail
Location	Hougang Avenue 10 / Hougang Central
Site area	46,899.4 sq m
Plot ratio	2.5
Maximum floor area	118,268 sq m, or about 1.27 million sq ft
Lease	99 years
Tender closed	16 December 2025
Awarded	14 January 2026
Price	S$1,500,738,338, about S$1,179 psf ppr

The planned development has about 830 homes, about 300,000 sq ft of retail space, a new bus interchange and a town plaza, integrated with Hougang MRT station. CICT will own the retail part. CapitaLand Development and the UOL consortium will develop the homes for sale. Sources: HDB's list of mixed-use sites sold and the CapitaLand and CICT award release.

What does "psf ppr" mean?

It means price per square foot per plot ratio. It divides the land price by the total floor area the developer is allowed to build, not by the size of the land. It is the standard way to compare land prices between sites of different sizes and densities.

For Hougang Central, the allowed floor area is 2.5 times the site area, about 1.27 million sq ft. S$1.5 billion divided by 1.27 million sq ft is about S$1,179. That floor area covers the mall, bus interchange and other commercial space as well as the homes, so S$1,179 is a blended figure for the whole site. The tender records do not show how much of the price relates to the homes alone.

How many developers bid, and how close were the bids?

Three, and the top two were close. The winning bid was about 2.0% above the second and about 6.6% above the third. Close bids suggest the bidders reached similar views of what the site was worth.

All three bids for the Hougang Central site
Bidder	Bid	Per square foot per plot ratio
Horizon Residential and Horizon Commercial Trustee (CapitaLand Development, UOL consortium and CICT)	S$1,500,738,338	About S$1,179
Sim Lian Land and Sim Lian Development	S$1,470,500,000	About S$1,155
Phoenix Property 1 and Phoenix Property 2	S$1,400,969,888	About S$1,101

Bid amounts are from HDB's tender records. The per-square-foot figures are our calculations from HDB's published floor area.

How does it compare with other mixed-use sites sold by HDB?

It is among the highest. HDB has sold several town-centre sites that combine homes with a mall, and Hougang Central's land rate is about the same as Bidadari's in 2017 and about 33% above Tampines Avenue 11 in 2023.

Mixed-use sites sold by HDB: land price per square foot per plot ratio
Site	Awarded	Price	Per sq ft per plot ratio	Development
Hougang Avenue 10 / Hougang Central	January 2026	S$1.50 billion	About S$1,179	Not yet named
Chencharu Close, Yishun	September 2025	S$1.01 billion	About S$980	Not yet named
Tampines Avenue 11	July 2023	S$1.21 billion	About S$885	ParkTown Tampines and ParkTown Residence
Pasir Ris Central	March 2019	S$700 million	About S$684	Pasir Ris Mall and Pasir Ris 8
Upper Serangoon Road, Bidadari	June 2017	S$1.13 billion	About S$1,181	Woodleigh Mall and Woodleigh Residences
Punggol Central	February 2011	S$1.02 billion	About S$753	Waterway Point and Watertown

Prices, floor areas and development names are from HDB's tender records. The per-square-foot figures are our calculations. Land prices from different years reflect the market at the time, so compare the recent sites more closely than the older ones.

What happened at the closest example, ParkTown Residence?

ParkTown Residence is the closest example because the same developers bid through the same kind of residential-and-commercial structure, for a town-centre site with a mall and transport hub. The land at Tampines Avenue 11 sold for about S$885 psf ppr in July 2023. ParkTown Residence launched in February 2025, about 19 months later, and sold 1,041 of its 1,193 units on launch weekend at an average of S$2,360 psf, according to UOL and CapitaLand.

That was a gap of about S$1,475 psf between the land rate and the average selling price. Adding the same gap to Hougang Central's S$1,179 would give about S$2,650 psf.

This is an illustration, not a forecast. Construction and financing costs, the market and the developers' pricing will all differ between ParkTown and Hougang Central. Hougang Central is also a smaller project, with about 830 homes against 1,193. The real price will be known only when the developers publish their price list.

The comparison pages on this site use scenarios of S$2,100, S$2,300 and S$2,500 psf to show what different launch prices would cost. On the ParkTown example, S$2,500 psf should be read as a mid-range case, not an upper limit.

Why can't the land price tell you the launch price?

Because land is only one of the developer's costs. The selling price also has to cover construction, financing over several years of building, marketing and the developers' margin. All of these change with the market. The developers also choose how to price different stacks, floors and unit types, so the average hides a wide range.

Any figure you see quoted as the Hougang Central launch price before the official price list is an estimate. The developers have not announced prices, a unit mix or floor plans.

What should a buyer do with this information?

Set your budget against a range, not one number. Test what you could afford at S$2,300 psf and at S$2,700 psf before deciding to wait.
Compare with what nearby condos sell for. Over the past year, URA-recorded sales had medians from S$1,610 to S$1,905 psf at the four main condos nearby. See the Florence, Riverfront, Kovan and Midtown comparisons.
Look at total price, not psf alone. A small unit at a high psf can still cost less in total than a large unit at a lower psf.
Wait for the official price list before committing to any figure, and compare it with these benchmarks when it comes out.

Bottom line: The developers paid about S$1,179 psf ppr for Hougang Central, a high land rate for a mixed-use site and about 33% above what the same developer group paid at Tampines. The land price is a large part of the developers' cost, but it cannot tell you the launch price. Plan your budget against a range.

Sources (retrieved 12 November 2026): HDB list of mixed-use sites sold, with tender bids; HDB final tender result (13 January 2026); CapitaLand and CICT award release (14 January 2026); CapitaLand ParkTown Residence release (23 February 2025); UOL ParkTown Residence release (24 February 2025); URA private residential transaction records via the URA Data Service. Per-square-foot figures are our own calculations from these sources.

Next: buying Hougang Central with CPF and a bank loan, Hougang Central price guide, Hougang Central vs The Florence Residences, or ask a pricing question.