Key Takeaways
- Loyang Valley in Pasir Ris sold collectively for $880 million to a SingHaiyi-led consortium on its third attempt, making it the largest residential en bloc of 2026.
- The deal translates to roughly $940 psf per plot ratio after an estimated $226 million land betterment charge and $246 million lease upgrading premium, and owners receive between $1.67 million and $3.91 million.
- Singapore's collective sale market remains structurally subdued, with developer ABSD on land purchases and elevated construction costs keeping appetite focused on smaller, well-located plots.
- The site sits on about 840,648 sq ft and can yield around 1,249 new homes, benefiting from the Cross Island Line, a future Loyang MRT station and the Changi East transformation.
- For owners and buyers, a collective sale payout triggers a fresh property purchase that may attract ABSD, so sequencing the replacement home matters.
Expert takeaway: Loyang Valley's $880 million sale is the biggest residential en bloc of 2026, but it is a story of selective developer appetite rather than a return to en bloc fever. One landmark deal does not reset a structurally cautious collective sale market.
Why Loyang Valley's $880 Million En Bloc Matters for Singapore's Private Property Market in 2026
After eight years and three separate attempts, the Pasir Ris condominium Loyang Valley has finally crossed the finish line. The deal is the headline collective sale of the year so far and a useful lens through which to read the wider private property market in 2026. It tells us where developers are willing to commit capital, what owners can realistically expect, and why the so-called en bloc revival is more nuanced than the eye-catching number suggests.
What Actually Happened at Loyang Valley
The Straits Times reported the key facts of the transaction. Changi condominium Loyang Valley was sold to a SingHaiyi Group-led consortium for $880 million on April 17, the biggest residential collective sale since the $810 million Thomson View deal in 2025. Loyang Valley in Pasir Ris has been sold en bloc for $880 million on its third attempt, making it the largest collective sale deal so far this year, and the deal follows the $391.9 million sale of the rear block of The Centrepoint in February.
The path to a successful sale was not smooth. The public tender for Loyang Valley at $880 million, which was about $100 million lower than its previous one in 2022, closed on Feb 10 without any bids. The momentum only came afterwards. The latest tender closed on Feb 10, followed by a 10-week private treaty period, and on April 17, ahead of the close of that period, a consortium led by SingHaiyi Group announced that it had secured the site for $880 million, the same price at which it was relaunched on Jan 8.
The Numbers Behind the Land Price
The headline price is only part of the picture. The effective land cost depends heavily on the charges layered on top.
| Metric | Figure |
|---|---|
| Sale price | $880 million |
| Land rate (psf ppr) | ~$940 psf ppr |
| Estimated land betterment charge | ~$226 million |
| Lease upgrading premium | ~$246 million |
| Site area | ~840,648 sq ft |
| Estimated new homes | ~1,249 units |
| Owner payouts | $1.67 million to $3.91 million |
The $880 million price tag, unchanged from the reserve price indicated in its January 2026 relaunch, translates to $940 psf per plot ratio after factoring in an estimated $226 million in land betterment charges and a $246 million lease upgrading premium. The lease position is central to understanding that premium. The 362-unit Loyang Valley condominium has about 55 years left on its 99-year lease. A topping-up of the lease back to a fresh 99 years is what the lease upgrading premium pays for.
What Owners Walk Away With
For existing owners, the payout is the part that matters most. Owners of Loyang Valley will walk away with proceeds ranging from $1.67 million for a 1,001 sq ft unit to nearly $3.91 million for the largest unit of 3,272 sq ft from the collective sale. The uplift over selling individually is meaningful. Based on caveats lodged for units sold at Loyang Valley last year, prices ranged from $1.9 million for a 1,981 sq ft unit on the first level to $1.08 million for a 1,001 sq ft unit on the second level. If you are weighing a similar payout against your next move, our guide on the decoupling of private property in Singapore is a useful companion read.
Why This Is a Selective Revival, Not En Bloc Fever
It is tempting to read $880 million as proof the collective sale boom is back. The data argues for restraint. Excluding the Loyang Valley sale, the collective sales market has been subdued with only two transactions so far in 2026, with a rear block of The Centrepoint sold to a Frasers Property unit on 26 February for $391.9 million, while other recent residential collective sales have been smaller in scale, including the 24-unit River Valley Apartments that sold for $56 million to a family office.
Property consultants share that cautious framing. The en bloc market surprised on the upside, with the first successful residential collective sale in 2026 at Loyang Valley for $880 million in April, but although sentiment is sanguine on a pickup in en bloc activity in 2026, transactions are likely to skew towards smaller sites with good location fundamentals, reflecting development risk considerations. In other words, developers are buying, but they are being picky.
The Structural Drag: ABSD and Construction Costs
The single biggest reason en bloc volumes stay low is the cost stack developers face. The additional buyer's stamp duty on land purchases compresses how much a developer can pay an owner, and that remission is conditional on completing and selling the entire project within a fixed window. You can read the official framework on the IRAS ABSD page. Layer on elevated construction costs and a more cautious bidding stance, and the maths only works on sites with clear redevelopment upside. For context on how stamp duties stack up across a purchase, see our explainer on stamp duty in Singapore.
Why SingHaiyi Paid Up for This Particular Site
The buyer's logic rests on scale, lease reset and a transforming eastern corridor. Subject to planning approval, developers may build around 1,249 dwelling units, averaging 1,076 sq ft each. Location is the other half of the thesis. Major infrastructural and industrial developments are expected in the Changi East area, including the Loyang Viaduct and the Cross Island Line, with a new Loyang MRT station next to the new condo. The site's rarity also matters. Located in Pasir Ris, the site is one of the largest residential plots in the eastern region and is second only to Mandarin Gardens in land size, highlighting its rarity and strategic importance.
SingHaiyi has form with large-scale redevelopment. The project was built on the former Park West condominium site, which SingHaiyi acquired en bloc for $840.9 million in January 2018. Grand Dunman, a 1,008-unit project in District 15 launched in July 2023, was about 90% sold at an average $2,518 psf as of April 2026. If you are tracking how projects like this eventually reach the market, our step-by-step guide to buying a new launch condo walks through the full process.
Opportunities Versus Risks
This deal opens doors, but it carries real caveats on both sides.
Opportunities:
- For owners in ageing developments, Loyang Valley shows that a patient, well-priced sale can still clear even in a quiet market.
- For buyers, a future Pasir Ris launch on this plot taps into the Changi East growth corridor, the Cross Island Line and a fresh 99-year lease.
- For investors, the broader pipeline of city-fringe and suburban freehold sites coming to market may create entry points ahead of any 2027 launch wave.
Risks:
- A collective sale payout is treated as a fresh purchase. Buying your next home can attract ABSD, and the matrimonial-home remission requires selling your existing property within a tight window you may not fully control.
- En bloc success rates are low. Many sale committees never clear their reserve, and even Loyang Valley needed three attempts over eight years.
- Launch pricing on the redeveloped site is unconfirmed. Land cost alone does not guarantee a particular selling price, and energy and construction costs remain elevated.
Before committing to a replacement home, it pays to map your cash and financing position early. Our guides on the cash needed to buy private residential property and how TDSR and LTV limits affect your loan are good starting points, alongside the official MAS loan-to-value rules.
Frequently Asked Questions
How much did Loyang Valley sell for and to whom?
Loyang Valley in Pasir Ris was sold for $880 million to a SingHaiyi-led consortium on 17 April 2026, the largest residential collective sale of the year so far, secured on the development's third en bloc attempt.
How much will Loyang Valley owners receive?
Owners are set to receive between $1.67 million for the smallest 1,001 sq ft units and $3.91 million for the largest 3,272 sq ft units, a meaningful uplift over the resale prices recorded for the development in the prior year.
Does the Loyang Valley sale mean en bloc fever is back?
Not quite. Excluding Loyang Valley, only two collective sales transacted earlier in 2026, and consultants expect activity to stay focused on smaller, well-located sites because developer ABSD on land and elevated construction costs continue to compress what buyers can offer.
Will I pay ABSD if I receive an en bloc payout and buy a new home?
Potentially yes. A collective sale payout is treated as a separate transaction, so buying a replacement property can attract ABSD. Married couples buying a single matrimonial home may qualify for a remission if they sell their existing property within the required period, but the timing is tight and should be checked with a conveyancing lawyer and against the IRAS rules.
When could a new condo launch on the Loyang Valley site?
No launch date has been confirmed. The site still requires planning approval and redevelopment, and indicative pricing and unit mix will only become clear closer to launch, so buyers should treat it as a watch-list site rather than a near-term decision.
Whether you are an owner weighing a collective sale payout, a buyer eyeing the Changi East corridor, or an investor reading the broader 2026 market, the right move depends on your own numbers, timeline and risk appetite. At PropertyNet.SG we offer independent, analytical guidance with no sales agenda, helping you sequence an en bloc payout, manage ABSD exposure and assess whether a future Pasir Ris launch fits your goals. Reach out to our team for a personalised, no-obligation conversation before you make your next move.