This was the only mixed-use investment recorded in Singapore in Q3

The total transaction value declined by 26.5% from the previous quarter.

In Q3/2025, the mixed-use sector in Singapore again recorded only one investment transaction—the award of a 99-year leasehold commercial and residential site at Chencharu Close through the GLS Programme.

According to a Savills report, the site was awarded for slightly more than S$1.01 billion (S$980 psf ppr) to a JV comprising Evia Real Estate, Gamuda Land, and Ho Lee Group. For the mixed-use sector, the value transacted in the third quarter was 26.5% lower than the S$1.38 billion investment sales recorded in the previous quarter.

Here’s more from Savills:

The land parcel is the first GLS site launched in the new Chencharu Town, a new planned 70-hectare housing area within Yishun Town that is expected to offer around 10,000 new homes by 2040. Located within a short walking distance of the Khatib MRT Station, the 317,000 sq ft site can be developed into a mixed-use development with about 875 private residential units and over 135,000 sq ft of commercial space, including a hawker centre and a bus interchange.

There exists the likelihood that due to the high land price and its status as the first GLS site launched in the new town, the tender attracted only three bids—fewer than typically seen for GLS private residential sites awarded in the same quarter. Developers may have exercised caution, given the lack of established demand and market precedent in the area.