The Government Land Sale (GLS) tender for Media Circle (Parcel A) in one-north closed on March 4 with a winning bid of $315 million from the consortium of Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. The 99-year leasehold site is zoned for residential use, with commercial spaces on the first storey.The top bid translates to a land rate of $1,037 per square foot per plot ratio (psf ppr) for the 82,125 square foot site, which has a maximum gross floor area of 303,865 square feet. The proposed development could have about 325 housing units and two high-rise residential towers.The neighbouring Media Circle GLS plot, which will be home to the upcoming Bloomsbury Residences with 358 units, was awarded to Qingjian and Forsea in January 2024 at $395.28 million, or $1,191 psf ppr. Du Dexiang, managing director of Qingjian Realty, is confident in the upcoming transformation of Media Circle, citing the well-designed master plan and continued government investment in one-north precinct.The partnership between Qingjian and Forsea has resulted in their third joint development, following the successful bid for the Jalan Loyang Besar executive condominium site last August. The top bid of $557 million was the highest for the site, translating to $729 psf ppr and the potential for up to 710 homes.In Lee Sze Teck, senior director of data analytics at Huttons Asia’s view, the bid for Media Circle (Parcel A) reflects the demand for homes in the area and gives the developer control over the supply and pricing of new homes. The Media Circle (Parcel B) site adjacent to Media Circle (Parcel A) measures 107,936 square feet and can house up to 500 residences. The tender for Parcel B will end on April 29.Media Circle (Parcel A) and Media Circle (Parcel B) are both on the Confirmed List of the 2H2025 GLS Programme. Additionally, the Reserve List of the 1H2025 GLS Programme offers another Media Circle site, zoned for residential with commercial spaces on the first storey. The lease is for 60 years and can accommodate an estimated 520 units and 4,306 square feet of retail space.With an area that frames greenery and black and white bungalows, the Media Circle area is home to only two precincts meant for residences. In total, there are just 987 non-landed residential units in one-north, leaving less than 100 unsold. The area’s high proportion of foreign workers, as well as its proximity to retail and dining options such as Anchorpoint Shopping Centre, Alexandra Central Mall, and Timbre+ One North, make it an attractive location.With a starting price for the future development on Media Circle (Parcel A) of $2,300 psf, Leonard Tay, head of research at Knight Frank Singapore, calculates that the location’s relative seclusion, while still within walking distance to Mediapolis, makes it ideal for potential buyers. He adds that the media and entertainment industries, in particular, could attract workers to residential projects or mixed-use developments with residences for sale or serviced apartments for lease.
Hougang Central Condo is a highly sought after development located at the heart of Hougang Town, just a stone’s throw away from the Hougang MRT Station. This prime location offers residents convenient access to the public transport network, allowing them to easily commute to different parts of Singapore. Living at Hougang Central Condo also means being surrounded by an array of amenities, from shopping malls to schools to restaurants. With its modern and luxurious design, coupled with its strategic location, Hougang Central Condo is truly an ideal choice for those who value both comfort and convenience. Don’t miss the opportunity to own a unit at Hougang Central Condo and experience the best of city living in the tranquil surroundings of Hougang Town.