Chencharu Close GLS: Evia-Led Consortium Leads with $980 PSF PPR Bid for First Mixed-Use Site

Introduction

Singapore’s property market witnessed another milestone with the Government Land Sales (GLS) programme. A consortium led by Evia Real Estate has placed the highest bid of $980 psf ppr for the first mixed-use site at Chencharu Close, located near Yishun.

This bid reflects strong developer confidence in the area’s growth potential and the rising demand for integrated residential and commercial developments.

About the Chencharu Close GLS Site

First mixed-use development plot in the vicinity
Land size: approx. 21,000 sqm
Potential for residential units with retail spaces on the lower floors
Located near Khatib MRT station and major expressways
Surrounded by schools, amenities, and green spaces

This development could reshape Yishun into a more vibrant lifestyle hub.

The $980 PSF PPR Bid – What It Means

The $980 psf ppr bid signals developers’ willingness to invest in suburban growth areas. For buyers and investors, this could mean:

Future property appreciation as Yishun develops into a mixed-use hub
Strong rental demand due to retail integration and transport accessibility
Competitive pricing for residential units compared to CCR and RCR projects

Market Implications

The bid shows confidence in north-side suburban developments.
With limited mixed-use plots in GLS, demand from developers will likely stay high.
Homebuyers may expect lifestyle-focused developments blending convenience, retail, and residential needs.

Buyer & Investor Tips

Watch for pricing of residential units once launched; likely competitive compared to city-fringe projects.
Consider long-term capital growth potential given Yishun’s urban renewal.
For investors, retail integration could boost rental demand and resale value.

Conclusion

The Evia Real Estate-led consortium’s $980 psf ppr top bid for the Chencharu Close GLS site marks a turning point for Yishun’s property landscape. As the first mixed-use development site in the area, it will set the tone for future projects and provide buyers with an exciting opportunity to be part of a new, integrated community hub.