02-07-2025
Loyang Valley owners make third try for en bloc sale at S$880 million
[SINGAPORE] Changi condominium Loyang Valley is being put up for collective sale for S$880 million, in its third attempt at an en-bloc deal.
The 99-year leasehold property sits on a 840,648 square feet (sq ft) plot of land, which now houses 362 apartments.
Subject to planning approval, developers may build around 1,249 dwelling units, assuming an average unit size of 1,076 sq ft, marketing agent Huttons Asia said on Wednesday (Jul 2).
The indicative price of S$880 million works out to a land cost of S$936 per sq ft per plot ratio (psf ppr), inclusive of an estimated Land Betterment Charge of approximately S$221 million, and a lease upgrading premium of approximately S$245 million after factoring in a 7 per cent bonus balcony gross floor area.
Loyang Valley's first attempt at a collective sale was made in 2018, at a reserve price of S$750 million, but it failed to garner sufficient support.
In 2022, the condominium was launched for sale at S$980 million, but pulled in no bids when the tender closed later that year.
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Huttons Asia's head of investment sales Terence Lian said: 'Given current market dynamics, the reduced reserve price of S$100 million below the previous level offers a compelling and achievable opportunity for developers.'
Owners stand to receive between S$1.67 million and S$3.9 million for their properties, which range from 1,001 sq ft for the smallest two-bedroom unit to 3,272 sq ft for the four-bedroom unit, the development's largest.
Four units in Loyang Valley were sold this year, said URA Realis. The most recent sale was in May 2025, when a 1,980 sq ft unit changed hands for S$1.9 million or S$959 psf.
Huttons' Lian said: 'Loyang Valley offers a rare opportunity to develop a tranquil residential enclave in the East, blending modern living with the charm of Changi's heritage.'
Built in 1985, the development has 56 years left on its 99-year lease. Under the 2019 Master Plan, the site is zoned for residential use and has a gross plot ratio of 1.6.
The last new launch in the Changi East area was freehold condominium Kassia, which sold 52 per cent of its 276 residential units on its launch weekend in July 2024. The prices ranged between S$1,821 and S$2,177 psf. The development's site on Flora Drive is being developed by Hong Leong Holdings, City Developments and TID.
Significant infrastructure and industrial developments are expected in the Changi East area, and these include the Loyang Viaduct and the Cross Island Line, which will put a new Loyang MRT station next to the condo's site.
The Changi East area now under development expand to nearly double the footprint of the current Changi Airport; it will add 10.8 sq km of new infrastructure, including Terminal 5, a third runway, the Changi East Industrial Zone and the Changi East Urban District.
Loyang Valley is also near industrial hubs such as Aviation Logistics Park, Loyang Industrial Estate and Changi Business Park.
Lian said: 'With growing demand from the semiconductor and aviation sectors in Tampines North, Pasir Ris and Changi, the site offers a strong rental catchment for investors, while providing residents with convenient access to job opportunities and lifestyle offerings.'
The tender for Loyang Valley, to be launched on Jul 8, closes on Sep 9.
