Miltonia Close EC site draws strong interest with top bid at $732 psf ppr

The EC site in Yishun attracted three investors at tender close.

The Miltonia Close executive condominium (EC) site in Yishun drew three bids at tender close, with Hoi Hup Realty submitting the highest offer of $340.85m, or $732 per square foot (psf) per plot ratio (ppr), according to Housing & Development Board (HDB) data and property consultants.

The second-highest bid came in at $670 psf ppr for the site that can yield about 430 units, followed by a third bid at $656 psf ppr.

The site is the first EC parcel in the area since 2014, when two sites at Yishun Street 51 were awarded and later developed into Signature at Yishun and The Criterion.

Demand for ECs continues to be supported by first-time buyers and HDB upgraders, said Huttons Asia CEO Mark Yip.

“The exceptional sales in Coastal Cabana and Rivelle Tampines showed that there is a considerable pool of demand looking for attractively priced ECs,” he said.

He added that over 4,000 HDB flats in Yishun are expected to reach their Minimum Occupation Period (MOP) between 2025 and 2027, which could support future demand.

The top bid of $732 psf ppr was at the higher end of the projected range, said Knight Frank Singapore head of research Leonard Tay.

“It is about 7.8% less than the Woodlands Drive 17 EC site awarded earlier in 2026 at $794 psf ppr,” he said.

“A possible launch price could be just above $1,600 psf, with an overall average of around $1,700 psf,” he added.

The tender result was in line with expectations, said Realion (OrangeTee & ETC) Group deputy group CEO Justin Quek.

“The site is not within walking distance of an MRT station, but it is near Lower Seletar Reservoir, which may appeal to homebuyers seeking a quieter environment,” he said.

He added that demand may also be supported by limited EC supply under upcoming GLS releases.

The bidding outcome reflects differing views among developers, said PropNex CEO Kelvin Fong.

“The gap between bids suggests varying assessments of the site’s potential,” he said.

The site is located near Lower Seletar Reservoir and Orchid Country Club, with Khatib MRT station about 2km away.

It is also close to several schools, including Naval Base Primary School, Northland Primary School, Huamin Primary School and Northview Primary School.

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