SINGAPORE, Sept 11 – Oriental Pacific Development, a subsidiary of JBE Holdings, has secured the top spot in the tender for an executive condominium (EC) site at Sembawang, surpassing three rival bids in the latest state land sale.
The winning offer came in at S$197.7 million, equivalent to S$692 per square foot per plot ratio (psf ppr). The 99-year leasehold site covers 18,968 sqm and is expected to deliver around 265 homes.
Tighter Bidding Landscape
JBE’s offer was 4 per cent above the second-highest bid of S$665 psf ppr from TID, the joint venture between Hong Leong Group and Mitsui Fudosan.
The third-place consortium—comprising ABR Holdings, Roxy-Pacific, Macly Capital, and LWH Holdings—came in at S$588 psf ppr, while Sim Lian submitted the lowest figure at S$381 psf ppr.
Market observers had anticipated bids in the S$700–800 psf ppr range, citing CDL’s recent record of S$782 psf ppr for a Woodlands EC plot in August.
Outlook for Sembawang ECs
This is the first EC site in Sembawang to be sold since 2019, when MCC Land acquired the Canberra Link parcel at S$566 psf ppr. That project became Provence Residence, launched in 2021, which sold 53% of its 413 units in its opening weekend at S$1,142 psf on average.
More recently, Otto Place EC in Tengah, launched in July 2025 by Hoi Hup Realty and Sunway Developments, recorded a strong debut with 58.5% of its 600 units sold at an average of S$1,700 psf.
JBE’s Experience
JBE Holdings has a solid track record in the EC market, with past developments including Signature at Yishun and Skypark Residences in Sembawang. The group is recognized for producing well-designed projects that balance practicality with lifestyle appeal.
Given its location near Canberra MRT, established schools, and neighbourhood amenities, analysts expect the new project to attract robust interest from upgraders and first-time buyers.
What Buyers Can Look Forward To
The upcoming Sembawang EC is likely to feature:
Around 265 modern homes in various layouts tailored to family living.
Convenient transport access, including Canberra MRT and the North-South Expressway.
Development by a trusted local player with proven EC expertise.
With ECs remaining an affordable entry point compared to private condos, the new project is poised to appeal strongly to both HDB upgraders and new homeowners.
Source: Edge Prop