# Freehold development Hong Heng Garden up for collective sale at $130 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-08-17T09:04:54.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/freehold-development-hong-heng-garden-collective-sale-130-mil
- **Topics:** Private Residential, Commercial & Industrial, New Launches

## Featured rationale

Strong nearby new-home demand and the future Upper Thomson mixed-use project may support developer interest, although an unsuccessful neighbouring collective sale signals pricing sensitivity.

## AI summary

Freehold Hong Heng Garden launched its first collective sale tender at $130 million, equivalent to $1,128 psf ppr including 7% bonus GFA.

## Original article

Hong Heng Garden, a freehold residential development at 33 Sembawang Road in the Springleaf-Upper Thomson area, has been launched for collective sale by public tender. The low-rise development, which comprises 27 apartments and four shop units, has a reserve price of $130 million.

Hong Heng Garden occupies a site spanning approximately 87,545 sq ft. The land is zoned for residential use with a plot ratio of 1.4, which means it can yield an estimated GFA of approximately 122,563 sq ft.

This is the development’s first collective sale launch, according to marketing agent ETC, a member of Realion Group. The reserve price of $130 million works out to a land rate of $1,128 psf per plot ratio, including a 7% bonus floor area (GFA), the firm added.

Read also: City Plaza launches collective sale tender at $970 mil after two failed attempts

The site is roughly a 10-minute walk from Springleaf MRT Station (Thomson-East Coast Line). It is also close to recreational amenities including Upper Seletar Reservoir Park and Springleaf Nature Park.

Retail offerings nearby include shops along Sembawang Road and Upper Thomson Road, while malls such as Causeway Point and Lentor Modern are around a 10-minute drive away.

Hong Heng Garden sits within a residential enclave predominantly comprised of landed housing and low-rise developments. The latter includes Hong Heng Mansions, located across the road from Hong Heng Garden. Owners of Hong Heng Mansions had launched the freehold condo for collective sale in February 2023 with a reserve price of $133 million, but did not find a buyer.

Hong Heng Garden's launch comes as demand for homes in the Outside Central Region (OCR) remains strong and healthy, said Swee Shou Fern, head of investment advisory at ETC.

She points to the August 2025 launch of Springleaf Residence as a recent benchmark. The 99-year leasehold, 941-unit development by GuocoLand and Hong Leong Holdings moved 92% of units during the first two days of launch at an average price of $2,175 psf.

Swee also expects the site to benefit from the upcoming mixed-use development at the Upper Thomson Road Parcel A Government Land Sale plot, which will add more amenities in the vicinity.

Read also: $350 mil en bloc sale bid: Owners of Lakeside Towers hope to be third time lucky

Located next to Springleaf Residence, the plot was awarded to Wee Hur Holdings and its largest shareholder, the Goh family-controlled GSC Holdings, in October of last year for $613.94 million, or $1,062 psf ppr. Wee Hur beat four other bidders for the site, which can yield around 595 residential units and 21,527 sq ft of ground-floor commercial space.

The tender will close at 3pm on Sept 23.

Check out the latest listings for Springleaf properties

## Chinese translation

> Translation model: grok_cli

### 永久地契项目Hong Heng Garden以新币1.3亿元推出集体出售

这个位于三巴旺路、春叶-上汤申一带的低层项目，由27个公寓单位及4个店屋单位组成。

位于春叶-上汤申一带、三巴旺路33号的永久地契住宅项目Hong Heng Garden，已通过公开招标方式推出集体出售。这个由27个公寓单位及4个店屋单位组成的低层项目，底价为新币1.3亿元。

Hong Heng Garden占地约87,545平方英尺。该地段规划为住宅用途，容积率为1.4，意味着可产生约122,563平方英尺的估计总楼面面积。

营销代理ETC（Realion集团成员）表示，这是该项目首次推出集体出售。公司补充称，新币1.3亿元的底价相当于每平方英尺容积率新币1,128元的地价，已计入7%的额外楼面面积（总楼面面积）。

另读：City Plaza在两次尝试失败后以新币9.7亿元推出集体出售招标

该地段步行至春叶地铁站（汤申-东海岸线）约10分钟。附近亦有休闲设施，包括上实里达蓄水池公园及春叶自然公园。

邻近零售选择包括三巴旺路与上汤申路沿线店铺，而大华继显购物中心（Causeway Point）及Lentor Modern等商场驾车约10分钟可达。

Hong Heng Garden坐落于以有地住宅及低层项目为主的住宅区。后者包括位于Hong Heng Garden马路对面的Hong Heng Mansions。Hong Heng Mansions业主曾于2023年2月以新币1.33亿元底价推出该永久地契共管公寓集体出售，但未觅得买家。

ETC投资咨询主管Swee Shou Fern表示，Hong Heng Garden此次推出之际，中央区以外地区（OCR）的住宅需求依然强劲且健康。

她以2025年8月推出的Springleaf Residence作为近期基准。该由国浩置地（GuocoLand）与丰隆控股（Hong Leong Holdings）开发的941个单位、99年地契项目，在开盘首两天售出92%单位，平均售价为每平方英尺新币2,175元。

Swee亦预计，该地段将受益于上汤申路地段A政府售地混合用途项目的未来开发，为附近增添更多设施。

另读：新币3.5亿元集体出售竞标：Lakeside Towers业主希望第三次成功

该毗邻Springleaf Residence的地段，去年10月由维翰控股（Wee Hur Holdings）及其最大股东、由吴氏家族控制的GSC Holdings以新币6.1394亿元、即每平方英尺容积率新币1,062元中标。维翰击败另外四名竞标者拿下该地段，可开发约595个住宅单位及21,527平方英尺的底层商业空间。

招标将于9月23日下午3时截止。

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