NEWS

UOL-led consortium submits top bid for mixed-use site at Hougang Central

On 16 December 2025, a joint venture comprising UOL consortium, CapitaLand Development (CLD) and CapitaLand Integrated Commercial Trust (CICT) emerged as the highest bidder for a residential and commercial development at Hougang Central, with a bid of $1.50 billion or $1,179 psf ppr.

If awarded, UOL and CLD (50:50) will jointly develop the residential component of the site for sale, while CICT will develop and retain full ownership of the commercial component. The 99-year leasehold government land sales (GLS) parcel spans a total site area of 504,820 sq ft.

The tender attracted three bidders, with the second-highest bid at $1.47 billion or 2.0% below the top bid.

In a joint statement, the consortium said: “This is the first GLS parcel in the Hougang area since 2019. The consortium will draw on the combined expertise of UOL, CLD and CICT to transform the site into a mixed-use development integrated with the new Hougang bus interchange, MRT station and a town plaza.

“It is set to become a major civic hub for community events and activities, with a sheltered public event space and F&B offerings that add to the vibrancy of the area. With around 830 residential units and about 300,000 sq ft of net lettable area for retail and lifestyle offerings, the project will be the largest mall in Hougang and a key anchor for future growth of the precinct.”