CapitaLand-UOL Group tops bid for mixed-use development plot at Hougang Central with $1.5 bil bid or $1,179 psf ppr

The Hougang Central 99-year leasehold mixed-use GLS site received three bids, with a joint venture (JV) of UOL Group, CapitaLand Development (CLD), and CapitaLand Integrated Commercial Trust (CICT) submitting the top bid of $1.5 billion ($1,179 psf ppr). If successful, the JV plans to develop the site into a major civic hub with approximately 830 residential units and 300,000 sq ft of retail space, which would make it the largest mall in Hougang and a key growth anchor for the precinct. UOL and CLD will handle the residential component, while CICT will develop and own the commercial portion.

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