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Real Estate Consultant | Trusted Advisor with 14+ Years of Experience | Founder of M | MIKE Framework Architect l FCPA (AUS) CA (SIN) MBA

Welcome to TOP SG Property Insights!

02/10/2026

The echo returns—voice sent, canyon waiting, truth sounding.

Shout the honest word into the void, listen to what bounces back with wisdom, and learn from the teacher of silence that holds no judgment.



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👇 Drop "Listen" when the echo fades—what truth is bouncing back to you today?

01/10/2026

ONE ORCHARD ROAD LEASE. NOW MULTIPLE LAWSUITS. WHAT WENT WRONG?

Taste Orchard was supposed to reinvent a prime Orchard Road property. Instead, it has become a warning story about commercial property leases.

Taste Orchard opened in February 2024 at the former OG Orchard Point building at 160 Orchard Road.

Hao Mart became the master tenant of five retail floors under a 7.5-year lease. The concept brought together a premium supermarket, F&B operators, retail businesses and service providers.

But the dream ended quickly.

OG terminated Hao Mart's master lease in September 2025, after just around 18 months. OG alleged breaches involving rent arrears and unauthorised subletting. Hao Mart has denied the allegations and disputed OG's claims.

What happened next shows why a master lease can be dangerous.

Once the master lease collapsed, the sub-tenants were affected.

Businesses that had invested in renovations, staff, equipment and branding suddenly faced the possibility of losing their operating locations.

The legal disputes then multiplied.

A Hao Mart-linked company, Hao Open Foods, sued OG over its forced early exit.

OG has rejected the lawsuit, calling it an alleged "abuse of process" and arguing there is no legal basis for the claim. The matter remains part of ongoing legal proceedings.

Other former sub-tenants have also brought claims connected to the closure.

And now, two former advisers have sued Hao Mart's owner and related companies, claiming more than S$5.2 million in allegedly unpaid fees for financial and strategic services.

This is the brutal reality.

A commercial property dispute rarely stays between just two parties.

One failed lease can affect:

• The landlord
• The master tenant
• Sub-tenants
• Employees
• Customers
• Contractors
• Advisers
• Lenders

The biggest lesson?

When you sign a commercial lease, don't just study your own tenancy agreement.

Ask one critical question:

What happens to me if the person above me in the lease structure loses their lease?

Because sometimes, your business can collapse even when you have done nothing wrong.


🌐 www.msingaporeproperty.com

01/10/2026

The well rope burns—bucket heavy, arm aching, water deep.

Draw daily even when the thirst seems distant, trust the aquifer beneath to refill, and quench the need others abandoned when the first pull grew heavy.



🌐 www.msingaporeproperty.com

👇 Type "Draw" when the rope bites—what daily pull are you making today?

01/10/2026

AFTER PAYING S$1,537 PSF PPR, HOW MUCH COULD THE NEW CONDO SELL FOR?

This is the question every property investor will now ask.

If UOL and CapitaLand paid S$1,537 psf ppr for the land, what could the future condos cost?

Let's be realistic.

The land price is only the beginning.

The developer still needs to pay for:

• Construction
• Financing
• Professional fees
• Marketing
• Development costs
• Demolition of existing structures
• Asbestos surveys and related site requirements
• Developer's profit margin

The site is also huge, with a maximum GFA of approximately 86,154 sq m and capacity for around 1,010 units.

My analysis suggests the future project could potentially be positioned around:

Conservative scenario

S$2,300 to S$2,500 psf

Base-case scenario

S$2,500 to S$2,900 psf

Bullish scenario

S$2,900 psf and above

These are estimates, not official developer prices.

Why could buyers accept these numbers?

Because the Bedok market is changing.

The area has a mature infrastructure, strong transport connectivity and a large population of homeowners with accumulated housing equity.

The S$1,537 psf ppr land bid itself shows that the winning consortium sees substantial pricing potential.

But there is another factor.

This is a 1,010-unit project.

A mega-project cannot rely on selling only to ultra-wealthy buyers.

It needs broad demand.

That is why I believe unit quantum will be critical.

A developer could sell a smaller unit at a higher psf price while keeping the overall price affordable for an upgrader.

For example:

A 700 sq ft apartment at S$2,600 psf equals approximately S$1.82 million.

That is still a significant amount.

But for some homeowners who have accumulated substantial HDB equity over many years, it may be achievable.

My prediction?

The developer will probably focus less on being the cheapest project in Bedok and more on creating an attractive price quantum for upgraders.

The psf price gets the headlines.

But the final cheque determines whether buyers buy.


🌐 www.msingaporeproperty.com

30/09/2026

The snail crosses the wall—pace mocked, trail glistening, summit certain.

Climb through the laughter of those who sprint and tire, leave your silver proof on every surface, and reach the garden while speedsters gasp at the base.



🌐 www.msingaporeproperty.com

👇 Drop "Climb" when the wall looms—what slow progress are you trusting today?

30/09/2026

S$1.4 BILLION FOR BEDOK LAND. WHY DID UOL AND CAPITALAND BID SO HIGH?

The East has just received a very expensive vote of confidence.

UOL Group, CapitaLand Development and Singapore Land Group submitted the winning bid of approximately S$1.425 billion, or S$1,537 psf per plot ratio, for the New Upper Changi Road GLS site.

The price is significant.

It is a new benchmark for a pure residential GLS site in Singapore's Outside Central Region (OCR). The bid was also about 13.8% higher than the second-highest offer and 15.6% above the S$1,330 psf ppr paid for the nearby Bedok Rise site in late 2025.

The site can potentially yield around 1,010 private homes.

That makes this a mega-development.

But why are developers willing to commit S$1.4 billion?

Look at the location.

📍 Mature Bedok estate
📍 Near Bedok MRT
📍 Near Bedok Mall
📍 Near Bedok Town Centre
📍 Established schools
📍 Close to East Coast Park

More importantly, this area has something developers love.

A large pool of potential buyers already living nearby.

Bedok has thousands of HDB households who may eventually upgrade to private property.

There are also surrounding landed homeowners who may want to right-size into a modern condominium without leaving the East.

The developers themselves said the project is intended to appeal to HDB upgraders and residents from surrounding landed estates.

But here is the interesting part.

The consortium is not simply betting on location.

They are betting on quantum.

The planned development is expected to offer mainly two to four-bedroom units.

That means they can potentially keep the absolute purchase price within reach of the large upgrader market.

This S$1.4 billion bid sends one clear message:

Developers still believe Singaporeans will pay for the right location, even outside the city centre.

And Bedok may have just been repriced.


🌐 www.msingaporeproperty.com

29/09/2026

The dawn fisherman pushes off—net ready, horizon calling, city sleeping.

Cast before the sun clears the mist, haul while the school still runs, and sell the catch while others still search for bait in daylight.



🌐 www.msingaporeproperty.com

👇 Type "Cast" when the net leaves your hands—what early catch are you pursuing today?

28/09/2026

WHY WOULD ANYONE DEVELOP THIS LAND WHEN THE LAND BETTERMENT CHARGE COULD EXCEED S$2 BILLION?

This is the real story.

Not the GCBs.

The economics.

Singapore's Land Betterment Charge is imposed when planning permission or other approvals increase the value of land.

And from September 2026, LBC rates for residential land have increased again. Residential landed rates rose an average 3.5%, while non-landed residential rates increased 3.4%.

Now consider the Holland Road site.

The latest reports say analysts estimate the potential LBC could exceed S$2 billion.

That is an extraordinary number.

So why develop it?

Because the underlying land is extraordinarily valuable.

The site sits in District 10, between Holland Road and Tyersall Avenue, surrounded by established luxury landed estates and close to the Singapore Botanic Gardens.

The Government itself has assessed the proposed low-density development as compatible with the surrounding neighbourhood, subject to the required approvals and environmental studies.

But this creates a fascinating market signal.

FOR EXISTING GCB OWNERS

Potentially positive.

A new ultra-prime enclave could reinforce the scarcity and prestige of District 10.

FOR SURROUNDING LANDED HOMES

Potentially positive, particularly for properties benefiting from proximity, privacy and improved neighbourhood positioning.

FOR FUTURE BUYERS

Be careful.

If developers must absorb enormous land-related charges, the cost eventually has to be reflected somewhere.

Usually, that means higher selling prices or lower developer margins.

And here's my biggest takeaway:

Singapore is not short of land.

It is short of prime, developable, low-density land in the right locations.

That is why this 16.6ha site matters.

The eventual question isn't whether the homes can sell.

It is whether the economics of unlocking the land make sense.

When land is this scarce, the biggest battle isn't finding buyers.

It is finding the price at which the land can be unlocked profitably.


🌐 www.msingaporeproperty.com

28/09/2026

The family table stretches long—dishes passing, laughter rising, roots deepening.

Pass the plate of patience, pour the glass of presence, and feast on the bond that outlasts every season of distance and disagreement.



🌐 www.msingaporeproperty.com

👇 Drop "Pass" when the dish circles—what relationship are you nourishing today?

28/09/2026

COULD THESE FUTURE GCBs BE WORTH S$15 MILLION, S$30 MILLION OR MORE?

Here's where the mathematics becomes interesting.

The Holland Road/Tyersall site is approximately 1.79 million sq ft and has been proposed for low-density residential development with GPR 1.4, including GCBs.

But don't make the mistake of multiplying the entire site by today's GCB land price.

The eventual development will be constrained by planning requirements, GCB designation, environmental studies, infrastructure and the final development plan.

Industry commentary has suggested the site could potentially produce around 100 to 200 low-rise homes, depending on how it is planned.

Let's look at today's market.

Recent Holland Road landed transactions include:

• 460 Holland Road: S$8.2M, S$2,735 psf
• 265 Holland Road: S$8M, S$1,869 psf
• 269 Holland Road: S$6.16M, S$1,876 psf

Meanwhile, a large 27,464 sq ft GCB at Ewart Park was marketed at S$68M, equivalent to S$2,476 psf on land.

My indicative future selling range, assuming the project receives the proposed approvals and the final product is genuinely ultra-low-density:

S$2,000–S$2,500 psf land equivalent: lower/base scenario.

S$2,500–S$3,000+ psf: premium scenario for exceptional plots.

That could put a 8,000 sq ft GCB at roughly S$16M–S$24M, while a 10,000 sq ft plot could potentially command S$20M–S$30M+.

But here's the catch.

The latest reporting suggests a potential Land Betterment Charge exceeding S$2 billion could complicate any sale of the land. This is an analyst estimate, not an official tax assessment.

Therefore, my price estimates are not a prediction of the final launch price.

They are a market-value framework.

The ultimate price will depend heavily on development costs, LBC, number of plots, plot sizes and positioning.

And that is why this could become one of the most fascinating luxury-property calculations in Singapore.


🌐 www.msingaporeproperty.com

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