The completion of Stellar@Tampines marks a transformative era for Soon Hock Enterprise, as the industrial developer officially secured the full Temporary Occupation Permit (TOP) for its flagship project on February 10, 2026. This milestone is not just a structural completion but a massive financial catalyst; the 9-storey B2 industrial building has been the primary engine behind the company’s explosive growth. Having achieved a partial TOP in late 2025, the recent full certification allows the group to finalize the handover of all 311 strata units, solidifying its reputation as a leader in Singapore’s competitive multi-user industrial market.
Strategically located in the heart of the Tampines industrial cluster, the development has seen overwhelming market demand, with sales already crossing the 71% mark well before the final paint dried. Designed with a focus on modern logistics and high-specification manufacturing, Stellar@Tampines features a rare ramp-up design that caters to Business 2 industrial needs. The success of this project highlights a significant trend in Singapore’s real estate: while the residential market often faces cooling measures, specialized industrial assets—particularly those that offer “bespoke” specifications like high floor loading and generous ceiling heights—remain a magnet for both owner-occupiers and savvy investors.
The financial ripple effects of this completion have been nothing short of extraordinary. In its maiden full-year results announced just days after the TOP, Soon Hock reported a staggering 28-fold surge in revenue to $227.9 million for FY2025. This windfall translated into a 10.6-fold jump in net profit, reaching $37.9 million. By unlocking the value of Stellar@Tampines, the group has successfully transitioned from a pre-revenue developer to a cash-rich entity with a war chest of approximately $160 million. This liquidity provides the necessary firepower to pivot toward the next phase of its ambitious multi-strata pipeline.
With the Tampines project now in the rearview mirror, Soon Hock is shifting its operational gaze toward Skye@Tuas. Poised to be one of Singapore’s most forward-thinking industrial developments, Skye@Tuas is notable for being among the first to integrate dedicated electric vehicle (EV) truck-charging infrastructure. Strategically positioned near the upcoming Tuas Mega Port and the Tuas Link MRT, this project is expected to reach its partial TOP milestone by December 2026. The developer is doubling down on this “user-centric” philosophy, betting that the shift toward green logistics will drive premium pricing and high take-up rates in the Tuas precinct.
Beyond Tuas, the group’s long-term strategy involves high-value redevelopments of freehold assets. A key highlight is the project at 20 Shaw Road, which Soon Hock acquired through a strategic $113.2 million en bloc deal. This site is slated for transformation into a modern food factory and workers’ dormitory by 2028, addressing a critical shortage of specialized food production space in the city-fringe Tai Seng area. By diversifying into niche sectors like food manufacturing and worker housing, Soon Hock is effectively insulating itself from broader economic volatility while capitalizing on the Urban Redevelopment Authority’s (URA) vision for industrial rejuvenation.
Looking ahead, Executive Director and CEO Walter Tan has signaled a hunger for further expansion. The group is actively monitoring the Industrial Government Land Sales (IGLS) such as Tukang Innovation Drive Plot B program and exploring potential collective sale opportunities to replenish its landbank. As the industrial landscape in Singapore evolves with initiatives like Changi T5 and the continued expansion of the Jurong Innovation District, Soon Hock’s focus on strata-titled developments offers a unique entry point for small-and-medium enterprises (SMEs) looking to own their space. For Soon Hock, Stellar@Tampines was only the beginning of a billion-dollar journey into the future of Singaporean industry.
