PETALING JAYA: Gamuda Bhd
’s property arm, Gamuda Land, says it has formally executed the acceptance of the award for a significant land parcel at Chencharu Close, Yishun, Singapore.
The site has a consideration of S$1.01bil or RM3.31bil and was secured through a joint bid by Gamuda (Singapore) Pte Ltd (50% stake), Evia MCS Pte Ltd (30%) and H108 Pte Ltd (20%), the company said in a statement.
The project is located within the mature northern corridor at Yishun and the parties will deliver a mixed-use development comprising up to 875 residential units and 12,600 sq m of commercial space which are anchored by community facilities such as a hawker centre and bus interchange.
The Yishun precinct is projected to yield 10,000 new homes by 2040, to ensure long-term housing demand, it said.
“The win underscores Gamuda Land’s continued partnership with Evia and H108, who bring deep local expertise and proven market knowledge.
“By combining its regional development capabilities with the partners’ insights, Gamuda Land is well-positioned to deliver a project that resonates strongly with Singapore homebuyers while enhancing community vibrancy in Yishun,” Gamuda said.
The group also said the Chencharu Close development is expected to be a key contributor to its property division’s sales, given Singapore’s strong property take-up rates and limited land supply.
“The Chencharu Close development is expected to strengthen group sales performance in the coming years, providing both revenue visibility and earnings diversification.
“Gamuda Land’s 50% equity stake ensures a meaningful contribution to group performance, while also reinforcing its strategy in high-demand urban markets,” it said.
Gamuda said it has been active in Singapore since 2015 through infrastructure and property projects.
Some of its earlier projects include the fully sold GEM Residences and OLÁ developments with a combined gross development value of SG$1.35bil or RM4.4bil.
Its infrastructure contracts include the Cross Island Line mass rapid transit stations and tunnels, and the Gali Batu Multi-Storey Bus Depot, it said.
“Together with Evia and H108, Gamuda aims to deliver another project that integrates seamlessly into Singapore’s urban fabric by working in close coordination with agencies such as the Land Transport Authority and the Urban Redevelopment Authority. The project will target BCA Green Mark Rating of Green Mark Platinum Super Low Energy,” it said.
Earlier in the month, Gamuda reported that its net profit for the financial year ended July 31, 2025 (FY25), rose 10% to RM1bil from RM912.1mil in FY24.
Revenue in FY25 climbed 20% to RM15.97bil from RM13.35bil in FY24, while earnings per share increased to 17.61 sen from 16.65 sen.
Its financial performance was boosted by strong domestic construction projects, with construction order book balance at a historical record high of RM38bil.
