Freehold Sembawang Apartments Up for Collective Sale at S$130 Million

Hong Heng Garden at 33 Sembawang Road is being marketed by ETC of Realion Group, with the en bloc sale launched on Monday (17 August). The S$130 million price tag translates to a land rate of S$1,128 per square foot per plot ratio, which includes a 7 per cent bonus gross floor area and land betterment charge of around S$18 million.

The 87,545 sq ft site is zoned for residential use under URA’s Master Plan 2025. It has a gross plot ratio of 1.4 and an estimated total GFA of around 122,563 sq ft. Based on an average unit size of 85 square metres, the parcel is estimated to yield up to 133 new private homes. Owners stand to receive S$2.1 million to S$14.7 million, depending on the size of their units.

Swee Shou Fern, ETC head of investment advisory, said that the development’s launch comes at an “opportune time” amid strong and healthy demand for suburban homes from owner-occupiers and upgraders. The nearby Springleaf Residence sold 92 per cent of its 941 units at an average of S$2,175 psf over its launch weekend in August 2025.

Hong Heng Garden owners’ attempt at a collective sale follows recent changes to Singapore’s en bloc regime. This includes lowering the consent threshold needed to kick-start the en bloc sale process to as low as 65 per cent for developments that are more than 60 years old, while developments between 40 and 59 years old will need at least 70 per cent of owners to agree, a level lower than the current 80 per cent.

Safeguards have also been added to ensure non-consenting owners are not pressured, such as a much shorter window for signature collection and a longer restriction period after a failed bid. In July, the runway was also extended for the construction and sales of large en bloc redevelopments to six years for those yielding at least 700 new homes and seven years for those yielding at least 1,400 new homes. The tender for Hong Heng Garden closes on 23 September at 3pm.

Caveats data showed just six residential transactions at Hong Heng Garden over the past decade. The latest transaction was for a 2,067 sq ft unit for S$1.8 million, or S$856 psf, in September 2022.

In the Upper Thomson and Springleaf area, new non-landed private homes recorded a median price of S$2,356 psf in the year thus far, while it was S$1,499 psf for resale transactions and S$2,413 psf for sub-sales.

“At the same time, reasonably sized freehold redevelopment sites remain scarce in Singapore, making 33 Sembawang Road a rare acquisition opportunity for developers seeking to replenish their landbank,” added Swee.