Key Takeaways
- The Chencharu Close mixed-use site in Yishun was awarded to an Evia Real Estate, Gamuda Land and Ho Lee Group consortium at $1.012 billion, or $980 per square foot per plot ratio.
- The 99-year leasehold site can yield about 875 residential units plus 135,627 square feet of commercial space, integrated with a bus interchange and a hawker centre near Khatib MRT.
- Chencharu is a new 70-hectare precinct within Yishun that will deliver roughly 10,000 new homes by 2040, of which at least 80 percent will be public housing.
- Based on the land rate, analysts project an indicative launch price of around $2,450 to $2,550 per square foot, with a showflat targeted for mid-2026.
- Buyers should weigh first-mover scarcity and integrated amenities against air-base height controls, OCR pricing risk and a multi-year construction timeline to 2029 or 2030.
Expert takeaway: The Chencharu Close mixed-use site, the first private housing parcel in Yishun's new Chencharu precinct, was awarded at $980 per square foot per plot ratio, pointing to an indicative launch price of around $2,450 to $2,550 psf. For northern HDB upgraders and investors, it is a rare first-mover opportunity, but air-base height controls and a 2029 to 2030 completion timeline mean the case is more nuanced than the marketing suggests.
Yishun has not seen a major new private launch in years, so the arrival of an integrated mixed-use development beside Khatib MRT is genuinely significant. The Chencharu Close mixed-use development blends roughly 875 homes with a sizeable retail podium, a hawker centre and a bus interchange, all under one roof. This guide breaks down the verified facts, the analysis behind the headline land price, and the opportunities and risks every buyer should weigh before getting excited.
What's Happening at Chencharu Close in Yishun
The site was launched under the Government Land Sales programme by the Housing & Development Board acting as the Government's land sales agent. HDB and URA confirm the parcel is the first private housing site in Chencharu, a new estate within the Yishun HDB Township.
According to the tender documents, the 99-year leasehold plot spans 316,997 square feet with a gross floor area of over 1.03 million square feet, and can yield about 875 residential units and up to 135,627 square feet of commercial space. The tender documents allocate 58,125 square feet of that commercial space for a bus interchange and a further 37,674 square feet for a hawker centre.
The tender drew three bids. A consortium led by Evia Real Estate, with Gamuda Land and Ho Lee Group, emerged as the top bidder at S$1.012 billion, equivalent to S$980 per square foot per plot ratio. The second-highest bid came from a Frasers Property-led consortium at S$818 psf ppr, a wide gap that signals cautious, site-specific pricing rather than a bidding frenzy.
| Key Detail | Figure |
|---|---|
| Site area | 316,997 sq ft |
| Gross floor area | Over 1.03 million sq ft |
| Estimated residential units | About 875 |
| Commercial space | Up to 135,627 sq ft |
| Bus interchange | 58,125 sq ft |
| Hawker centre | 37,674 sq ft |
| Top bid | S$1.012 billion ($980 psf ppr) |
| Tenure | 99-year leasehold |
Why the $980 PSF PPR Land Price Matters
On the surface, $980 psf ppr looks high for an Outside Central Region site in Yishun. The context, however, is important. The need to build and integrate a bus interchange and hawker centre adds construction complexity and cost that sets this parcel apart from a plain residential plot. That complexity, plus a cautious land market, helps explain the wide bid spread.
For comparison, the most recent similar mixed-use site at Tampines Avenue 11 was awarded at $885 psf ppr in July 2023 to a UOL and CapitaLand joint venture. That project, launched in February 2025 as Parktown Residences, sold about 87 percent of its 1,193 units at an average of around $2,360 psf over its launch period. A smaller Tampines Street 94 mixed-use plot was awarded at $1,004 psf ppr in September 2024, but that site did not carry transport and hawker obligations.
| Comparable Mixed-Use Site | Land Rate (psf ppr) | Notes |
|---|---|---|
| Chencharu Close (2025) | $980 | Bus interchange + hawker centre |
| Tampines Street 94 (2024) | $1,004 | No transport/hawker obligation |
| Tampines Ave 11 (2023) | $885 | Now Parktown Residences |
Working from the land rate, market analysts have floated an indicative launch price of roughly $2,450 to $2,550 psf. Treat this as an estimate, not a confirmed figure, since final pricing depends on construction costs, interest rates and sentiment closer to the showflat opening, which is being targeted for around mid-2026. Estimated completion sits in the 2029 to 2030 window.
Location, Connectivity and the Bigger Chencharu Vision
The development sits roughly 500 metres from Khatib MRT on the North-South Line, one stop from the Yishun integrated transport hub and Northpoint City. The integrated bus interchange means residents will have rail and bus connectivity at their doorstep, a meaningful convenience premium that tends to support resale value. If you want to understand how much that location factor is worth, our analysis on how location and financing affect your purchase power is a useful companion read.
Zooming out, Chencharu is a new 70-hectare precinct that will deliver about 10,000 new homes by 2040, of which at least 80 percent will be public housing. The vision is summarised as "a vibrant village, connecting communities and heritage," with new schools, parks and a nursing home planned alongside existing draws like Lower Seletar Reservoir Park, Yishun Stadium and HomeTeamNS Khatib. For families, nearby schools include Naval Base Primary, Chung Cheng High School (Yishun) and Orchid Park Secondary.
This is the second-largest mixed-use project in the north after North Park Residences and Northpoint City, both of which have performed steadily in the Yishun resale market. If you are weighing a brand-new integrated project against your current flat, our step-by-step guide to buying a new launch condo walks through the process end to end.
Opportunities Versus Risks for Buyers and Upgraders
No project is one-sided. Here is the balanced view.
The Opportunities
- First-mover scarcity. New private launches in Chencharu and Khatib are rare, and the last Yishun condo launch was the boutique Essence back in 2019. Limited new supply in the immediate area can support long-term demand.
- Integrated lifestyle. A retail podium, hawker centre and bus interchange under one roof appeal strongly to owner-occupiers who value convenience.
- Upgrader catchment. Many Yishun HDB flats have reached or are approaching their Minimum Occupation Period, creating a pool of nearby upgraders. If your flat is in that window, see our guide on what to do when your HDB reaches MOP.
- Established consortium. Evia, Gamuda Land and Ho Lee Group bring a track record across residential and commercial developments.
The Risks
- OCR pricing ceiling. An indicative $2,450 to $2,550 psf is ambitious for Yishun and leaves limited margin for capital growth if broader sentiment softens.
- Air-base controls. Proximity to Sembawang Air Base and Nee Soon Camp imposes building height limits and visual control requirements that may shape layouts, window placement and outlook.
- Long completion runway. A 2029 to 2030 completion means carrying costs and exposure to interest-rate and policy changes over several years.
- Buyer stamp duties. Second-property buyers face Additional Buyer's Stamp Duty on top of Buyer's Stamp Duty. Check the latest rates on the IRAS ABSD page and BSD page.
Financing discipline is critical for a purchase of this size. Your loan is capped by both the MAS Loan-to-Value limits and the TDSR framework, while CPF usage rules are set out on the CPF home-ownership page. Upgraders should also map out the cash component early; our breakdown of the cash needed to buy private property and our stamp duty explainer cover the numbers in detail.
Weighing a private purchase?
Entry price decides your outcome. Score the project before you commit.
The difference between a well-priced entry and an overpaid one compounds for a decade. Every major Singapore new launch is scored on our independent 100-point Insider Benchmark, the same framework we use in client advisory. Check the score before you visit any showflat.
New Launch Reviews & ScoresWhatsApp: Get a Second OpinionFrequently Asked Questions
When will the Chencharu Close condo launch?
The showflat is being planned for around mid-2026, with estimated completion in the 2029 to 2030 window. These timelines are developer estimates and may shift with construction progress and regulatory approvals, so confirm details closer to the official preview.
How much could units cost?
Based on the $980 psf ppr land rate, market analysts have suggested an indicative average of around $2,450 to $2,550 psf. This is an estimate, not a confirmed price, and the final figure depends on construction costs, interest rates and market sentiment at launch.
Is Chencharu Close a good option for HDB upgraders in Yishun?
For nearby upgraders, the integrated amenities, Khatib MRT access and first-mover scarcity are attractive. The trade-off is OCR pricing risk and a multi-year completion timeline. The right answer depends on your budget, holding power and whether you intend to live in or invest. If you are also weighing an Executive Condominium, the HDB EC eligibility page is worth reviewing.
What restrictions affect the development?
Because the site is near Sembawang Air Base and Nee Soon Camp, the tender imposes building height controls and visual control measures to shield sensitive military facilities. These may influence the number of storeys, building orientation and window placement.
How does it compare to North Park Residences?
Chencharu Close is the second-largest mixed-use project in northern Singapore after North Park Residences and Northpoint City. North Park benefits from a more central Yishun location and an established mall, while Chencharu offers a brand-new precinct with first-mover scarcity but a longer maturity runway.
The Chencharu Close mixed-use development is one of the most closely watched northern launches heading into 2026, but the smart move is to look past the marketing and run your own numbers on affordability, stamp duty and exit strategy before committing. If you would like an independent, data-grounded assessment of whether this project fits your finances and goals, the team at PropertyNet.SG is happy to help you weigh the options clearly and without sales pressure. Reach out for a personalised consultation and we will walk you through the figures specific to your situation.