Eco World Development (S) Pte. Ltd. has won the residential site at Lorong Puntong / Sin Ming Avenue with a bid of S$208,099,000. URA's release of 18 September 2026 puts that at S$17,350.26 per square metre of permissible floor area, which converts to S$1,612 psf ppr. If you own, or are weighing, a home in Bishan, you will hear that figure often. It is a measure of land, not of homes.
- S$1,612 psf ppr Lorong Puntong, tendered price per square foot of permissible floor area 18 September 2026 · URA release, converted from S$ per m² at 10.7639 sq ft per m²
- S$208.1 million Lorong Puntong, total tendered price 18 September 2026 · URA release
- 7 bids received for Lorong Puntong 2026-09-18 · URA Government Land Sales — past sale sites
A land price is not a launch price
The S$1,612 psf ppr figure is what the developer agreed to pay for each square foot of floor area it is allowed to build. It covers only the right to build. Construction, financing and every other cost come on top.
URA's filed transactions put the median resale price of condominiums and apartments in Bishan at S$2,012 psf between 2025-10 and 2026-09. That is the price of finished homes that already exist. The two measures sit side by side easily, but they describe different things. The gap between them is not a launch price, and no launch price for the new project can be read from it.
The same care applies to comparisons over time. An earlier residential site at Lorong Puntong was awarded at S$731 psf ppr, according to URA's Government Land Sales record for the award dated 2014-10-13. Land prices from different years are not like for like. The market, the plot and the lease terms all differ from one tender to the next.
7 bids for a 99-year residential plot
URA's Government Land Sales record shows 7 bids for the site. URA launched the tender on 25 June 2026 and closed it on 15 September 2026, and it awarded the plot to the highest tenderer. The lease is 99 years.
The site covers 4,283.4 m², with a maximum permissible gross floor area of 11,994 m². The total tendered price is S$208.1 million. The bid count shows how many developers were willing to put a price on this particular plot at this particular time. It says nothing about how any home nearby should be priced.
Why the earlier Lorong Puntong price is a poor yardstick
At first glance, the new award is more than double the earlier one. That comparison is easy to make and easy to misread. The two tenders took place in different markets, involved different plots and carried their own terms. A land price rising over the years is not evidence that finished homes rose by the same proportion, or by any particular amount.
If you see the two numbers set against each other as proof of a trend in Bishan home values, treat the claim with caution. It uses a land measure to make a point about homes.
What Bishan's resale median does and does not tell you
The S$2,012 psf median comes from 250 resale transactions in URA's private residential data over the same period. A median sits in the middle of the sales that happened. It blends different ages, sizes, floors and tenures.
So the median is a starting point for your own questions, not a figure to apply to your unit. A flat in an older freehold block and one in a newer leasehold development can both be part of those 250 sales and still differ widely in price.
What to ask before you act
This award records a land price for one plot. It does not value your home, and it does not set a price for the future project. Before you decide anything, check:
- Which measure is being quoted. Is it a land price per square foot of permissible floor area, or the resale price per square foot of a finished home? They are not interchangeable.
- How comparable the transactions are. For your own unit, look at recent resale records in your development or in similar ones. Match tenure, age and size, rather than relying on an area-wide median.
- Whether an old land price is being used to prove a point. A tender from an earlier year was run in a different market, on different terms.
- What the lease is. This site carries a 99-year lease. Compare it only with homes on similar tenure.
Past awards, including the earlier Lorong Puntong tender, are set out in the Truestorey land sales record. You can read URA's release of 18 September 2026 in full.
