Singapore's Biggest Property Developers, Ranked by the Government Land They Win

The Government sells residential land by tender and the winners build new homes on it, so the land a developer wins is a public, comparable record of what it is building. Every URA and HDB residential land award from 1 January 2021 to 18 September 2026 (82 sites: 64 sold by URA, 18 by HDB), by the group behind the winning company:

A site won by a consortium counts once for each partner group, so the counts add up to more than 82. The values are the whole award prices of the sites a group took part in, not its share. 26 more groups took part in one award each: ABR Holdings, Bukit Sembawang Estates, CapitaLand Integrated Commercial Trust, EL Development, Eco World Development Group, Evia Real Estate, Frasers Centrepoint Trust, Gamuda, Greatview Development, Heeton Holdings, JBE Holdings, LWH Holdings (Lim Wen Heng), Low Keng Huat, Lum Chang Holdings, Metro Holdings, Mitsubishi Estate, Perennial Holdings, Roxy-Pacific Holdings, Sinarmas Land, Sino Group, Soilbuild Group, Sustained Land, Wee Hur Holdings, Woh Hup Holdings, Yanlord Land Group (United Engineers), ZACD Group. One award, to a private individual, is left out of every table.

Site-by-site results, tender prices and bids are in our GLS sites and tender results tracker.

On government land, a few groups win again and again, usually with partners.

Some groups on the ranking belong together. Counted once per site:

• Hong Leong. Hong Leong Investment Holdings has a total interest of 49.448% in CDL, as at 10 March 2026 (CDL annual report 2025), and Hong Leong Holdings and Hong Realty are its subsidiaries: "Intrepid is a wholly-owned subsidiary of Hong Leong Holdings Limited ("HLHL") which is in turn a subsidiary of Hong Leong Investment Holdings Pte. Ltd. ("HLIH") and Hong Realty is also a subsidiary of HLIH" (GuocoLand). GuocoLand is counted on its own; the same filing calls HLIH "a deemed substantial shareholder of GuocoLand".
• UOL and SingLand. UOL's Orchard Boulevard site "will be developed in an 80:20 joint venture with subsidiary SingLand" (UOL).
• Sunway and MCL Land. Sunway MCL "is the new name for Sunway Property's Singapore operations, following Sunway Group's acquisition of MCL Land in 2025" (Sunway MCL); MCL Land's awards came before that.

Which group is "largest" depends on whether you count listed companies or families: both answers are above.

Three patterns explain most of the unfamiliar names on URA's and HDB's award lists:

• One company per site. Groups usually buy each site through a new company, often the group's name with a number or another word added, such as the "CDL" and "United Venture Development" companies in the table at the end of this page.
• Twin companies. A mixed-use site can be bought by two companies of the same group, one named for the homes and one for the commercial part; they count once here.
• Consortiums. Several groups bid together through a joint company: 52 of the 82 awards went to two or more groups or companies.

PropKaki matched each winning company to its group only where the group's own release, annual report or website, an exchange filing or the project's official site says so. 9 companies could not be matched that way and are shown as awarded.

The name on the award is usually a vehicle; the group behind it is what you are really buying from.

Of the 82 awards:

• 52 went to consortiums of two or more groups or companies;
• 28 went to a single group;
• 1 went to a single company that no primary source ties to a group, and 1 to a private individual.

Most government residential sites since 2021 have gone to more than one group or company.

URA: a developer "developing a housing project with more than four units" must comply with the Housing Developers (Control and Licensing) Act, and you can "check if a developer holds a valid housing developer's licence" (URA). The Act, and the other laws that apply when you buy, are mapped in Singapore property laws explained.

Licensed is the minimum; the licence says nothing about quality or price.

• The licence: URA's page for home buyers lets you "check if a developer holds a valid housing developer's licence" (URA).
• The group: the table at the end of this page links each winning company to its group, with the source.
• The project: PropKaki's new-launch reviews give each project's developer, launch prices and sales progress, and every project's resales are on its condo page.

Check the company on the contract, then the group behind it.

URA tells developers: "You are required to open and maintain a Project Account with a financial institution for each project. The deposit of purchase moneys and loans into the Project Account and withdrawals of money from the Project Account are regulated under the Housing Developers (Project Account) Rules", and they must use "the Option to Purchase and Sale and Purchase Agreement prescribed under the Housing Developers Rules" (URA). The booking fee, "not less than 5% but not more than 10% of the purchase price of the unit", is paid to the project account (Singapore Statutes Online). The payment steps, from booking fee to completion, are in how to buy a home in Singapore.

The project account and the fixed payment schedule are the buyer's main protections: read the agreement before you pay.

• En bloc and private land. Developers also buy old estates collectively and private plots; neither is in URA's or HDB's award records, so neither is counted here.
• Sites, not homes. Sites differ widely in size; the ranking counts sites.
• Shares. Most consortium stakes are not published, so each partner is credited with the whole site.
• Not a rating. Winning land says nothing about build quality or how a project will sell.
• The window. Awards run to 18 September 2026; later tenders are not counted.

Read the ranking as "who is building on government land", not "who builds best".

Each source is the group's own release, annual report or website, an exchange filing, or the project's official site. A company shown "as awarded" could not be tied to a group from one of those; news reports alone were not enough.

Every link on this page can be checked: follow the source.

PropKaki figures. The awards are every residential site URA and HDB awarded from 1 January 2021 to 18 September 2026, from PropKaki's land-sale records and URA's award releases. Each award's winning parties were split by hand from the award record; each company was matched to its group only on the group's own release, annual report or website, an exchange filing, or the project's official site, with the quote checked against the source. A consortium award counts once for each partner group, and two companies of the same group on one award count once. Values are whole award prices. One award to a private individual is left out of every table. How we work: PropKaki methodology.

What we have not claimed: any developer's quality, finances or track record, each partner's share of a site, or what a project will sell for. This is a record of land awards, not a recommendation.