The city-state’s Urban Redevelopment Authority said on Tuesday it has received an application from Tunku Ismail, who is also the Regent of Johor, to develop his 16.6 hectares of land into low-rise, low-density housing, including GCBs, with a gross plot ratio of 1.4.
After reviewing the application, the agency proposed rezoning the land parcels for residential use, adding that part of the site zoned “residential” would also be designated as a GCB Area if the development plan is approved.
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The land parcels (Plots A and B) owned by the Regent of Johor that are planned for development. Photo from Urban Redevelopment Authority’s website |
GCBs are the most coveted type of landed housing in Singapore. They are confined to specific zones, require a minimum land size of 1,400 square meters, and are capped at two stories under URA rules. There are fewer than 3,000 such properties in 39 designated areas across the city-state.
Tunku Ismail, the eldest of six children of Sultan Ibrahim, is also the Regent of Johor. The Johor royal family’s wealth was estimated at US$5.7 billion in 2024, with their property holdings in Singapore making up a sizable portion of that fortune.
The Singapore government disclosed last June that Tunku Ismail planned to develop his land parcels along Holland Road, and that a land swap would be carried out to move the project further from the nearby Singapore Botanic Gardens, as reported by The Business Times.
Under the deal, some 13 hectares of his land nearest to the UNESCO World Heritage Site were traded for 8.5 hectares of nearby state land.
Following the swap, the Regent’s holdings in the area amount to 16.6 hectares.
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Tunku Ismail Sultan Ibrahim, the Regent of Johor and son of Malaysian King Ibrahim Iskandar. Photo by AFP |
Marcus Chu, CEO of real estate agency ERA Singapore, said the site could produce about 100 to 200 low-rise, low-density homes, including GCBs, if fully developed as a landed residential enclave.
Located between Holland Road and Tyersall Avenue, the site sits on freehold land within an exclusive residential enclave flanked by designated GCB Areas.
It is also situated in District 10, one of the “highly desirable” districts where landed housing remains scarce, Chu said, as quoted by The Edge Singapore.
Market timing may also be favorable, with activity in the GCB segment showing signs of recovery. Around 30 GCB deals were recorded last year based on caveats lodged, up from 23 a year ago, EdgeProp Singapore reported.
Among them was the priciest transaction in over a decade—a GCB on Peirce Road that changed hands for S$148 million (US$116 million) in December.
