A Thriving Vision for Singapore's Lentor Precinct as New Projects Continue to Launch

When Stage 1 of the Thomson-East Coast Line (TEL) opened in January 2020, it significantly enhanced the accessibility of precincts earmarked in the URA Master Plan 2014 a decade ago. Lentor Hills is a prime example: once a 30-hectare expanse known as Lentor Forest, land clearing and master planning began in 2016.

Lentor Hills is a master-planned, 99-year leasehold private residential estate featuring 11 land parcels, projected to yield around 5,000 homes upon full completion. The government envisioned a tranquil private residential enclave where the built environment integrates seamlessly with nature. Few private neighbourhoods in Singapore have been master-planned from a completely greenfield site with such a distinct urban design concept.

When URA launched the first residential site in Lentor Hills under the Government Land Sales (GLS) programme in April 2021, developers including GuocoLand took keen notice. The Lentor Central parcel was zoned for residential use with commercial retail space on the ground floor, offering direct sheltered access to Lentor MRT station, which opened in August 2021 as part of TEL Stage 2.

When the tender closed in July 2021, GuocoLand emerged top among nine bids for the 186,000 sq ft site. Its winning bid stood at $784.1 million, translating to $1,204 per square foot per plot ratio (psf ppr).

The integrated development, Lentor Modern, will feature a 96,000 sq ft retail mall, anchored by a 12,000 sq ft supermarket and a 10,000 sq ft childcare centre. Perched atop the retail podium are three 25-storey residential towers housing a total of 605 units.

In many ways, GuocoLand has practically established itself as the master developer of Lentor Hills. Lentor Modern is the only mixed-use integrated development site directly linked to the MRT station.

Including the Lentor Modern plot, the government has launched six residential development sites for sale over the past two years. GuocoLand and its joint venture partners have secured four of these six parcels, which can yield an estimated 2,211 residential units—accounting for 75% of the 2,952 units launched or planned in Lentor Hills to date.

A seventh parcel is on the Reserve List and will only be triggered for sale if a developer submits an acceptable minimum indicative bid to the government.

The Dominant Master Developer

GuocoLand is currently the dominant force in Lentor Hills, holding stakes across multiple developments. A committed master developer plays a pivotal role in setting the tone for an emerging precinct, thereby reinforcing and elevating the authorities' overarching vision for the area.

GuocoLand has also been eager to maintain a substantial inventory of units in the enclave, as the estate continues to draw a wide spectrum of homebuyers from across the island.

Furthermore, holding multiple parcels within the same precinct allows a single developer to better differentiate project positioning, unit mixes, and architectural designs to cater to varied buyer demographics. Securing an expansive presence in a single locality provides a strategic advantage.

When Lentor Modern was launched in September 2022, 84% of its units were snapped up over its launch weekend. As at 30 January, 590 units (98%) have been sold, with an average price of $2,102 psf setting a robust benchmark for the neighbourhood.

The next project to launch in the estate was the 598-unit Lentor Hills Residences at Lentor Hills Road (Parcel A). During its launch weekend in July 2023, around 50% of the units were sold at an average price of $2,080 psf. As at 30 January, 75% of the development has been taken up at an average of $2,084 psf. Lentor Hills Residences was jointly developed by Hong Leong Holdings, GuocoLand, and TID.

Shorter Intervals Between New Launches

With more GLS land parcels awarded, the turnaround time between project launches has shortened considerably. Just four months after Lentor Hills Residences, the 474-unit Hillock Green was brought to market in November 2023.

Hillock Green is developed by a joint venture comprising Sea Holdings (a 50% stake, wholly owned by China Communications Construction Company), United Engineers, and Soilbuild Group (25% each). They became the first consortium without ties to GuocoLand or Hong Leong to clinch a parcel in Lentor Hills.

Caveats lodged as at 30 January show that Hillock Green has moved 126 units (27%) since its launch last November, achieving an average price of $2,114 psf.

The 267-unit Lentoria at Lentor Hills Road (Parcel B) is slated to commence its public preview in mid-February.

Another project in the pipeline is Lentor Mansion, a 533-unit development spanning 235,373 sq ft of land, expected to preview before the end of 1Q2024. GuocoLand and Hong Leong were the sole bidders for the site, jointly securing it in April last year for $486.8 million ($985 psf ppr).

Last September, the tender for the third Lentor Central parcel closed with just two bids. The top bid of $435.17 million ($982 psf ppr) was placed by a joint venture between GuocoLand, Hong Leong Holdings, and CSC Land Group. The upcoming residential project on this site is expected to yield approximately 475 units.

Inspired by Black-and-White Bungalows

Lentor Mansion marks the second entry in GuocoLand's Mansion Series, defined as "residential developments that harmonise with nature and embody a tranquil lifestyle".

The inaugural project in the Mansion Series was the 200-unit Meyer Mansion, located along prestigious Meyer Road in prime District 15 in the East. The freehold development is a redevelopment of the former Casa Meyfort, which GuocoLand acquired en bloc for $319.88 million in July 2018.

While Meyer Mansion drew architectural inspiration from the seafront bungalows of the East Coast, Lentor Mansion is inspired by the iconic colonial black-and-white bungalows.

The grand clubhouse at Lentor Mansion will showcase black-and-white bungalow architecture, featuring sweeping verandahs and soaring high ceilings. It will accommodate a residents' lounge with indoor and alfresco spaces, a formal function room, a gym, and other lifestyle amenities.

The colonial aesthetic extends into the residences as well, where high ceilings and timber-toned finishes echo the classic charm of heritage black-and-white estates.

Lentor Mansion will also be the first project launched under the harmonisation of strata and gross floor area (GFA) guidelines introduced by URA and other government agencies. All GLS sites sold from 1 September 2022 onwards adopt standardised GFA calculations, translating into more efficient, liveable layouts for homebuyers.

Alongside the Mansion Series, GuocoLand has established its signature Modern Series for transit-oriented mixed-use developments with a strong "live, work, play" synergy. Lentor Modern is the third instalment in this portfolio. The first was Martin Modern, a 450-unit luxury condominium in prime District 9 launched in July 2017 and now fully sold.

The second development in the Modern Series is the 558-unit Midtown Modern on Tan Quee Lan Street, offering direct underground connectivity to the Bugis MRT interchange station on the East-West and Downtown Lines.

Midtown Modern links seamlessly with the Guoco Midtown integrated hub on Beach Road, which comprises a 30-storey, 770,000 sq ft Grade-A office tower, a six-storey Network Hub, a 50,000 sq ft retail and dining podium, and the 219-unit Midtown Bay residential tower.

GuocoLand has also set its sights on the Marina Gardens precinct. At the tender close on 18 January, GuocoLand and its joint venture partners Hong Leong and TID submitted the sole bid for the 1.73-hectare white site at Marina Gardens Crescent, tabling an offer of $770.46 million ($984 psf ppr).

The prime site can be transformed into an integrated development combining commercial, hospitality, residential, sports, and recreational uses. With a maximum permissible GFA of 782,978 sq ft, it has the capacity to deliver approximately 775 residential units.

When developers acquire land and conceptualise architectural projects, keeping the needs of owner-occupiers at the forefront is paramount. Buyers purchase to fulfil lifestyle aspirations and personal living visions—and when buying a home for own-stay, purchasing decisions remain resilient against shifting market sentiment.