Singapore Land Group Announces Joint Development for Major Integrated Project at Hougang Central

Key Points of the Announcement

• Singapore Land Group Limited (“SingLand”) has entered into a Joint Development Deed (JDD) for an integrated residential and commercial site at Hougang Central, Singapore.
• The development will be carried out by two special purpose vehicles (SPVs):
  • Residential SPV: Horizon Residential Pte. Ltd., held by UOL Group Limited (30%), SingLand (10%), Kheng Leong Company (Private) Limited (10%), and CapitaLand Group Pte. Ltd. (50%).
  • Commercial SPV: Horizon Commercial Trustee Pte. Ltd. (as trustee of Horizon Commercial Trust, a wholly owned sub-trust of CapitaLand Integrated Commercial Trust).
• The JDD clearly delineates the responsibilities and interests of the Residential and Commercial SPVs, including their proportionate stake based on the market value of the respective components as determined at the tender submission date by an agreed valuer.
• Each SPV will independently own and bear the development costs for their respective components (residential and commercial), while jointly undertaking shared aspects of the project and allocating costs as per the JDD or mutual agreement.

Details Investors and Shareholders Must Know

• Ownership Structure: The Residential SPV and Commercial SPV are backed by prominent real estate companies, notably CapitaLand Group (majority in Residential SPV and sole owner of Commercial SPV), UOL Group, SingLand, and Kheng Leong. This diversified ownership could enhance financial stability and execution capability.
• Market Value-Based Interests: The interests of each party in the development are pegged to the market value of the residential and commercial units at the tender submission date. This valuation mechanism ensures transparency and fairness in profit sharing and risk allocation.
• Cost Allocation: Each SPV is responsible for all costs, obligations, and liabilities associated with their component. Shared project costs will be split according to the JDD, providing clarity on financial responsibilities.
• Potential Impact on Share Price:
  • This project represents a significant new development for SingLand, UOL, CapitaLand, and Kheng Leong, expanding their portfolio in a prime Singapore location (Hougang Central).
  • The partnership’s structure and the involvement of leading property players may signal positive growth prospects and unlock considerable value upon completion and sale of units.
  • Shareholders should monitor future announcements regarding sales launch, project financing, and regulatory approvals, as these milestones could materially impact share valuations.
• Execution Risk: Investors should be aware of possible execution risks, cost overruns, and market demand fluctuations for both residential and commercial components, which may affect profitability.
• Price Sensitivity: The announcement of this joint venture and integrated development is likely to be price-sensitive, given the scale of investment, the strategic location, and the caliber of participating companies. Any delays, changes in ownership, or valuation adjustments may significantly affect the share price.

Additional Information

• The announcement was submitted by Yeong Sien Seu, Company Secretary, on 9 February 2026 to the Singapore Exchange (SGX).
• Further updates, including detailed financial projections, timelines, and sales strategies, are expected as the project progresses.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own due diligence and consult with financial advisors before making any investment decisions based on this announcement. The information herein is based on official company disclosure and may be subject to change.

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