When CapitaLand and UOL Group were awarded the Hougang Central government land sale (GLS) site in January this year, the developers also secured the last undeveloped plot for a new integrated development above an MRT station on the North East Line (NEL). The site, bounded by Hougang Avenue 10 and Hougang Central, was awarded to the consortium of developers after they put in the top bid of $1.5 billion for the 504,820 sq ft site. This works out to a land rate of $1,179 psf per plot ratio (ppr). CapitaLand and UOL have shared that the new integrated development will comprise 830 residential units, and with approximately 300,000 sq ft of net lettable area for retail and lifestyle concepts, the development will house the largest mall in Hougang. Under the joint development structure, the residential component will be jointly developed by CapitaLand Development and UOL Group in a 50:50 joint venture, while CapitaLand Integrated Commercial Trust will develop and own the entire commercial component....