Public leasehold allows ownership of land with the state, while individuals receive long-term (often 25-99 years), renewable, transferable rights to use and develop the land with conditions set by the state. This model is commonly used for residential houses in Singapore, Hong Kong, and Batam.
Comparatively, "freehold ownership" gives individuals permanent ownership of land, with rights to use, modify, sell, or pass it down to future generations, subject to general laws and regulations. This is the default model for residential houses in US and Japan.