JTC has awarded the industrial land parcel at Sengkang West to Soilbuild Group Holdings Ltd., which submitted the highest of four bids at $156,114,008 — approximately $2,692 per square metre per plot ratio, or around $250 per square foot of permissible gross floor area.
The tender was launched on 24 June 2025 under JTC’s Industrial Government Land Sales (IGLS) programme and closed at 11am on 19 August 2025. The award was made on 1 October 2025 following evaluation of the bids.
Three of the four submissions were valid. Behind Soilbuild, a consortium of ZACD Capital Partners VCC (on behalf of ZACD Industrial Opportunities Fund), HPC Realty and Lexing bid $142,730,000, while BHCC Development (Project 2), Evermega and H10 Holdings jointly bid $136,888,999. A fourth submission from Green Earth Centre Pte. Ltd. at $6,190,000 was ruled invalid for non-compliance with tender conditions.
The gap between first and second place was roughly 9.4%, and the three valid bids spanned about 14% from top to bottom — a spread that suggests genuine competition for the site rather than a walkover.
The parcel measures 23,196.6 sqm (249,688 sqft), is zoned Business 2, and carries a maximum gross plot ratio of 2.5. That allows up to 57,991.5 sqm — 624,221 sqft — of gross floor area on a 33-year lease. JTC has set a project completion period of 84 months, and strata subdivision of the completed development is permitted.
The development that will rise on the site is being brought to market as SengKang Connection. Unit mix, sizes, pricing and TOP date have not been released.