On September 29, Gamuda Berhad Group announced that its real estate arm, Gamuda Land, has officially been handed over a key land parcel at Chencharu Close, Yishun, Singapore. This land parcel was successfully tendered for SGD 1.012 billion (equivalent to MYR 3.305 billion) through a joint venture among Gamuda (Singapore) Pte Ltd (50% stake), Evia MCS Pte Ltd (30%), and H108 Pte Ltd (20%).
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Strategically located within the steadily developing Northern corridor in Yishun, this area is projected to provide 10,000 new homes by 2040, meeting long-term housing demands.
Gamuda Land expands its investment portfolio in Singapore with the Chencharu Close project
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This success affirms the sustainable cooperation of Gamuda Land with Evia and H108, partners who possess deep local experience and market insights.
By combining its regional development capabilities with the insights of its partners, Gamuda Land is well-positioned to deploy a project tailored to the needs of homebuyers in Singapore, while simultaneously boosting community vitality in Yishun.
With a strong property absorption rate and limited land supply in Singapore, the Chencharu Close project is predicted to be a key driver contributing to the sales of the group's real estate segments.
The Chencharu Close project is expected to bolster the Group's sales performance in the coming years, bringing both revenue predictability and profit diversification.
Gamuda Land's 50% ownership ensures a significant contribution to the Group's performance, while reinforcing the company's QTP (Quick Turnaround Project) strategy in high-demand urban markets.
Furthermore, in alignment with the Singapore Green Plan 2030, the Chencharu Close project will aim to achieve the BCA Green Mark Platinum Super Low Energy (SLE) certification, demonstrating Gamuda's ESG commitment and its philosophy of building communities that endure over time.
Gamuda's Footprint in Singapore
Gamuda has been operating in Singapore since 2015 through both infrastructure and real estate projects. The GEM Residences and OLÁ projects, with a total development value of SGD 1.35 billion (equivalent to MYR 4.4 billion) and fully sold out, demonstrate the company's capability to successfully execute residential projects.
Meanwhile, contracts such as the stations and tunnels for the MRT Cross Island Line and the Gali Batu Multi-Storey Bus Depot affirm Gamuda's prestige in the infrastructure sector.
Together with Evia and H108, Gamuda aims to deliver another project that seamlessly integrates into Singapore's urban fabric, working closely with agencies such as the Land Transport Authority (LTA) and the Urban Redevelopment Authority (URA).
Gamuda Land expands its investment portfolio in Singapore with the Chencharu Close project
Established in 1976, Gamuda Berhad has grown into a regional leader in the engineering, real estate, and infrastructure sectors. The Group is renowned for its innovative solutions and commitment to excellence, with a presence in Malaysia, Taiwan, Singapore, Australia, the United Kingdom, India, Vietnam, Bahrain, and Qatar.
The unique strengths and expertise of the group have been the foundation for its development over more than five decades. The Group undertakes the conceptualization, design, and delivery of pioneering engineering solutions and knowledge.
Gamuda Land is the real estate arm of Gamuda Berhad - a regional national construction group with diverse experience and expertise in engineering, construction, and infrastructure concessions, headquartered in Malaysia.
Gamuda Land possesses over two decades of experience developing townships, high-rise projects, hospitality clubs, and commercial real estate. Some of Gamuda Land's prominent and award-winning projects in Malaysia include Gamuda Cove, Gamuda Gardens, twentyfive7, Horizon Hills, Kota Kemuning, Bandar Botanic, Jade Hills, and Valencia, among many others.
Notably, Gamuda Land's international footprint is further strengthened through projects in Australia, Singapore, Vietnam, and the United Kingdom, many of which have also won prestigious awards.
