15/09/2026
Sometimes the most interesting property news is not about a new launch. It is about what a new land price tells us about projects that have already launched.
Today’s Lorong Puntong/Sin Ming Avenue GLS tender is worth studying.
Seven developers submitted bids for the 99-year site, which can yield about 140 homes. Eco World Development came in highest at S$208.1 million, or S$1,612 psf ppr.
What caught my attention was not only the number of bidders.
The winning bid was 11.1% above the second-highest bid of S$1,451 psf ppr. It also exceeded the S$1,350–S$1,500 psf ppr range analysts had expected.
Based on the winning land price, Newmark estimates that the eventual development could launch from around S$3,000 psf.
That does not mean every existing new launch suddenly becomes good value. It does mean buyers should pay attention to something that is easily overlooked: replacement cost.
When newer land is acquired at a materially higher price, I would go back and examine projects that have already launched.
What was the underlying land cost? What units remain? How does their absolute quantum compare? Is the layout efficient? Is the location equally compelling? How soon can the buyer actually use the property?
A project does not stop being interesting because its launch weekend is over.
In some cases, the opposite can happen.
As newer land transactions provide another reference point for development costs, an earlier launch may deserve a fresh look, particularly when there are still good units available at prices established against an earlier cost environment.
The comparison should never simply be “old launch versus new launch”.
It should be: what am I getting for my money today, and what will a comparable replacement likely have to contend with tomorrow?
That is where post-launch opportunities can become very interesting.
Sources:
EdgeProp Singapore — Ashley Lo, “Malaysian developer Eco World tops seven bids for Lorong Puntong GLS site at $1,612 psf ppr in tender debut”, 15 September 2026.
Urban Redevelopment Authority (URA) — Lorong Puntong/Sin Ming Avenue GLS site particulars, 2026.
Urban Redevelopment Authority (URA) — “URA releases two sale sites at Lorong Puntong/Sin Ming Avenue and Kitchener Link”, 25 June 2026.
Photo: EdgeProp Landlens