Chencharu Close Residences
Chencharu precinct, Yishun / Khatib · Evia Real Estate + Gamuda Land + Ho Lee Group
The anchor private launch in Yishun's new Chencharu master-plan precinct. Big numbers, OCR quantum, and a policy tailwind -- but the question is always whether the precinct delivers before your hold window runs out.
Location & neighbourhood
Where this sits on the Yishun / Khatib map.
Chencharu is URA's new sub-zone carved out between Yishun and Khatib, northwest of the Yishun Pond / ORTO area. The master plan reshapes what used to be a sports / nursery belt into a mixed-use residential precinct with new HDB BTO supply, a community club, retail, and integrated green network connecting Lower Seletar Reservoir and Yishun Park.
The site itself sits on Chencharu Close. You're a short walk to Khatib MRT and a 2-stop ride into Yishun town. For a buyer used to the established Yishun matrix of HDB-plus-malls, the Chencharu pocket will feel newer, quieter, and greener -- at least until the neighbouring BTOs TOP and the precinct fills up.
MRT & transport
- • Khatib MRT (NSL) -- ~6-10 min walk (indicative)
- • Yishun MRT (NSL) -- 1 stop, bus connection
- • Expressways: SLE, TPE, CTE all <10 min drive
- • To Orchard: ~30 min by NSL
The developer
A JV with regional weight -- Evia, Gamuda, Ho Lee.
Evia Real Estate is a Singapore boutique developer known for The Commodore and Parc Central Residences EC. Gamuda Land is the property arm of Gamuda Berhad, a Malaysian listed construction and infrastructure heavyweight -- they've developed townships across Malaysia and Vietnam and entered Singapore via this Chencharu parcel and other GLS bids. Ho Lee Group is a long-established Singapore builder-developer with a track record in ECs and mid-market condos.
This consortium mix -- a Singapore boutique, a regional township developer, and a veteran builder -- is exactly the configuration that suits a large master-plan anchor site. Gamuda brings township-scale design sensibility, Evia / Ho Lee bring Singapore execution discipline. The risk is that Gamuda is still early in its Singapore brand journey; buyers at resale will benchmark against DevTeam A or DevTeam B names they know better.
Recent SG / regional track record
- • The Commodore / Parc Central EC (Evia)
- • Gamuda Gardens / tWentyFive.7 (Gamuda, MY)
- • Parc Canberra EC (Ho Lee)
- • Ki Residences (Ho Lee consortium)
Unit mix & layouts
What's inside the 875 units.
At 875 units, expect the full mass-market spread: a healthy 1BR / 2BR band targeting HDB upgraders on single-income or dual-income DINK profiles, a dominant 3BR core for families, and a 4-5BR cap for multi-gen households. OCR mega-developments of this scale typically weight 55-60% toward 2BR + 3BR with smaller 1BR and 4BR+ shoulders. All sizes below are indicative.
Efficiency read: typical OCR mega-development -- 4-6% bay / AC ledge loss. Prioritise stacks with unblocked views toward Lower Seletar Reservoir or the future Chencharu park.
Indicative pricing & PSF context
What the numbers actually say.
Expected PSF band
S$1,850-2,100 (indicative)
OCR North launches in 2024-2025 (North Gaia EC, The Botany, Lentor cluster) bracketed this range. Khatib-adjacent private stock has historically sat lower than Lentor or Yishun-Canberra. Chencharu's master-plan premium could push the top of the band, but demand-absorption risk argues for entry-phase discipline.
Resale comparison
Nearby resale: Eight Courtyards and The Canopy (~S$1,250-1,400 PSF), The Miltonia Residences (~S$1,200-1,350), Signature at Yishun EC (~S$1,200-1,400). A new-launch premium of 40-55% over mature 99-yr resale is typical here, but it stretches the exit math -- your resale buyer in 5-7 years is comparing against newer OCR launches, not older resale.
Schools, amenities, connectivity
The catchment that matters.
Primary schools (within 1-2km)
- • Northland Primary
- • Huamin Primary
- • Yishun Primary (verify 1km)
Secondary & beyond
- • Yishun Innova Junior College
- • Orchid Park Secondary, Yishun Secondary
- • ITE College Central (Ang Mo Kio), Nanyang Polytechnic
Malls, F&B, healthcare
- • Northpoint City, Wisteria Mall, Junction Nine
- • ORTO leisure park, Yishun Park
- • Khoo Teck Puat Hospital, Yishun Polyclinic
Investment thesis
Why someone would actually buy here.
First-mover in a master-plan precinct
Chencharu is a new URA sub-zone with a structured plan -- new HDB supply, new amenities, new green links. Being the anchor private launch means entry before the precinct infrastructure matures, which is historically where OCR master-plan developments see the strongest 5-7 year uplift.
OCR quantum -- HDB upgrader math works
At ~S$1,900 PSF, a 3BR at 1,000 sqft is S$1.9m. For an HDB upgrader selling a 4-room flat at S$600-700k with CPF and savings, this is within reach on a single-income TDSR. That accessibility is where the real OCR demand pool sits.
Khatib MRT walkability
Direct walk to Khatib MRT on the NSL matters for rental -- Yishun's tenant pool (hospital staff, aircrew, NSC complex) wants MRT proximity. A sub-10-minute walk keeps the project competitive against older, mature condos in Yishun town.
Relative affordability vs CCR / RCR
With CCR launches hovering above S$2,400 PSF and RCR above S$2,200, D27 at sub-S$2,100 is where buyers without CCR budgets still get a brand-new product, good facilities, and a growing precinct. The spread has historically compressed post-launch.
Risks & what to stress-test
Where this could bite you.
Precinct execution timeline
Master-plan upside only works if the amenities, schools and connectivity actually land on schedule. If BTOs slip or retail lags, your first 3-5 years are spent living on a construction site with promises, not facilities. Underwrite the thesis assuming at least one piece of the plan runs 2 years late.
Concentrated supply on exit
875 units is a big project. In Year 5-7, sub-sales from within Chencharu Close Residences alone will compete for the same resale buyer. Add the HDB BTO progression flow and neighbouring GLS plots coming online, and the exit market is crowded, not scarce.
Yishun rental ceiling
Yishun 2BR rents realistically sit S$2,800-3,400. A 2BR at S$1.3-1.5m entry gives ~3.0-3.2% gross yield before costs. Don't model in CCR-style rental escalation; the tenant pool here is price-sensitive and NSL-line-dependent.
Gamuda brand recognition
Gamuda is well-known regionally but newer in Singapore branding. Resale buyers do weigh developer recognition at the margin. The counter is that Evia and Ho Lee are familiar local names, and build quality will likely be consistent -- but underwrite exit against the softer end of the comparable PSF band.
Winfred's take
The honest read.
My read: Chencharu Close Residences is a classic OCR master-plan anchor -- quantum-friendly, MRT-adjacent, and leveraged to a URA-backed precinct story. That has worked in Tengah, in Canberra, in Sengkang West. It can work here too. But the 875-unit scale means you aren't buying scarcity; you're buying the precinct thesis. If you believe Chencharu delivers on time and Yishun's rental floor holds, the entry math works. If the plan slips or supply absorption drags, you spend the first 5 years underwater on PSF and your exit is against your own neighbours in sub-sale. Price discipline at launch is everything.
Who this suits: an HDB upgrader family in the north with 5-room or EA flat proceeds, a 10-year hold horizon, and primary-school plans in the Yishun / Khatib belt; an OCR investor already holding CCR / RCR who wants north-side yield diversification; a multi-gen family prioritising space per dollar. Who it doesn't: a short-hold flipper (supply overhang is real); a yield chaser expecting 4%+ (it's closer to 3%); anyone unwilling to underwrite a 2-year precinct delay as their base case.
Related reading
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