GuocoLand's five FY2026 residential launches near sell-out; Lentor Central and Berlayar Drive in pipeline

GuocoLand recorded one of its strongest residential sales performances in recent years in FY2026 (ended June 30), launching five projects comprising 3,120 units between August 2025 and April 2026.

The five projects are the 941-unit Springleaf Residence, 399-unit Faber Residence, 462-unit Penrith, 455-unit River Modern and 863-unit Tengah Garden Residences. As at June 30, sales rates ranged from 93% at River Modern to 99% at Tengah Garden Residences (see table below).

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The strong take-up has yet to be fully reflected in GuocoLand’s financial results, as most of the projects remain in the early stages of construction. Four are scheduled for completion in 2029, while River Modern is expected to be completed in 1H2030. Group CEO Cheng Hsing Yao says the substantially sold residential developments “will contribute to the Group’s earnings in the coming years as construction progresses”.

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Property development revenue fell 32% to $1.07 billion in FY2026 from $1.57 billion a year earlier, reflecting the timing of progressive revenue recognition from its Singapore residential projects, according to GuocoLand.

GuocoLand does not include revenue from joint-venture developments such as Springleaf Residence and Faber Residence in its property development revenue, as the projects are equity-accounted. The group’s proportionate revenue from equity-accounted Singapore projects rose to about $391 million in FY2026 from $211 million in FY2025.

Its share of profit from associates and joint ventures also rose to $32.4 million, reversing a loss a year earlier, mainly due to contributions from Springleaf Residence and Lentor Hills Residences as construction progressed.

Meanwhile, GuocoLand is replenishing its residential pipeline. Its next launch is expected at the Lentor Central site, its fifth residential site in the Lentor Hills estate. The project, a joint venture with Intrepid Investments and TID Residential, is slated for launch in 1H2027 and will comprise about 553 units across three towers.

The site is adjacent to Lentor Modern mall and Lentor MRT station on the Thomson-East Coast Line. GuocoLand says most units are expected to have unblocked views of the surrounding landed housing, Lower Seletar Reservoir or Lower Peirce Reservoir.

Beyond Lentor, GuocoLand is expanding its residential pipeline to the Greater Southern Waterfront. Together with Intrepid Investments, a subsidiary of Hong Leong Holdings, it was awarded the Berlayar Drive government land sale (GLS) site on August 7 for $576.78 million, or $1,515 psf per plot ratio.

Read also: Hong Leong Holdings-GuocoLand JV submits sole bid for Berlayar Drive GLS site at $1,515 psf ppr

The site can yield up to 416 private homes and faces Keppel Bay on one side and the forested Bukit Chermin on the other. It is about 330m from Telok Blangah MRT station. The project is expected to be launched sometime in 2027.

Several substantially sold projects are nearing completion. The 598-unit Lentor Hills Residences is expected to be completed in 2H2026, while the 533-unit Lentor Mansion was completed in 3Q2026. The 477-unit Lentor Central Residences, launched in March 2025 and fully sold as at June 30, is scheduled for completion in 2H2027.

On the investment property side, revenue rose 4% to $292.5 million in FY2026. The office and retail components of Guoco Tower and Guoco Midtown were 100% committed as at June 30, while 20 Collyer Quay was 97% committed. Lentor Modern mall, which opened in January, was 95% committed.

Overall, GuocoLand reported FY2026 revenue of $1.43 billion, down 25% y-o-y, while profit attributable to equity holders fell 11% to $95.2 million. The group recognised a $207.2 million allowance for foreseeable losses on its development properties in Chongqing, China.

In the immediate term, GuocoLand says its main focus for investment and growth remains on its two “twin engines” in Singapore — property development and property investment.

“Our investment properties in Singapore maintained almost full occupancies and saw positive rental reversions while our residential projects sold very well at their launches,” says Cheng.

Read also: April private home sales hit six-month high of 1,548 units on OCR launch momentum

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