List Your Property!
Bayshore Drive GLS Award 2026: Gemini Residential Wins at S$2.13B — What It Means for East Coast Property

Bayshore Drive GLS Award 2026: Gemini Residential Wins at S$2.13B — What It Means for East Coast Property

by | Jul 28, 2026 | Buying Guide, GLS & Land Sales, Investment Analysis, Market News, Property Investment, Property News

Click anywhere or press Esc to close

⚡ Quick Summary — Bayshore Drive GLS Award, 20 July 2026

  • The Urban Redevelopment Authority (URA) awarded the Bayshore Drive GLS site to Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust) on 20 July 2026.
  • Winning bid: S$2,128,000,000 — equivalent to S$14,243.83 per sqm of gross floor area (GFA).
  • Site area: 57,460.6 sqm; maximum permissible GFA: 149,398 sqm; tenure: 99 years.
  • Allowable development: commercial and residential — a mixed-use site in the emerging Bayshore precinct of District 16 (East Coast).
  • The land cost implies a break-even selling price of approximately S$2,400–S$2,700 PSF for private residential units on the site, depending on construction cost and margin assumptions.
  • This is the highest ever GLS price for an East Coast / Bayshore site, reflecting strong developer confidence in the Long Island project and upcoming TEL proximity.

The Deal at a Glance

On 20 July 2026, URA announced that it had awarded the tender for the Bayshore Drive Government Land Sales site — launched for tender on 30 March 2026 and closed on 15 July 2026 — to Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd., acting as trustee-manager of Gemini Mall Trust. The winning bid of S$2.128 billion equates to a land rate of S$14,243.83 per sqm of permissible GFA, a figure that market observers describe as aggressive but defensible given the site’s strategic position.

The Bayshore Drive site spans 57,460.6 sqm of land with a maximum GFA of 149,398 sqm — permitting a sizeable mixed commercial and residential development. The site is offered on a 99-year leasehold basis, consistent with all GLS residential land in Singapore.

Detail Data
Location Bayshore Drive, District 16 (East Coast), Singapore
Allowable development Commercial and Residential (mixed-use)
Site area 57,460.6 sqm
Maximum GFA 149,398 sqm
Tenure 99 years
Successful tenderer Gemini Residential Pte. Ltd. & Gemini Trustee Pte. Ltd.
Winning bid S$2,128,000,000
Land rate (PSM GFA) S$14,243.83
Tender launch date 30 March 2026
Tender close date 15 July 2026
Award announcement 20 July 2026 (URA pr26-55)
Bayshore Drive GLS award land price per sqm GFA vs comparable East Coast GLS sites Singapore
Figure 1: The S$14,243.83 PSM GFA Bayshore Drive award significantly exceeds comparable East Coast GLS transactions from 2021 and a 2012 benchmark estimate, reflecting the precinct’s enhanced infrastructure outlook. Source: URA pr26-55; LovelyHomes research.

Why S$14,243 PSM GFA Is Significant

To contextualise the land rate: residential GLS sites in the East Coast / Marine Parade corridor have historically traded at S$5,000–S$9,500 PSM GFA. The Bayshore Drive award at S$14,243 PSM represents a substantial step up, driven by several factors converging in the Bayshore precinct in 2026.

First, the Thomson-East Coast Line (TEL) brings new MRT connectivity to the East Coast, with Bayshore MRT station (TEL Stage 4, opened 2024) significantly reducing travel times to the CBD. TEL access materially enhances the Bayshore precinct’s residential appeal compared to the historically bus-dependent East Coast corridor.

Second, the Long Island reclamation project — preparatory works for which commenced from end-2026 per URA’s pr26-50 (30 June 2026) — promises to extend the East Coast’s waterfront significantly over the coming decades, with a projected 570-hectare Phase 1 reclamation west of Bedok Jetty creating new coastal land that could underpin property values in the area for generations.

Third, the site’s mixed commercial and residential allowance enables Gemini to build a retail or F&B podium beneath the residential towers, enhancing lifestyle amenity and supporting higher average selling prices for the residential component.

Implied Break-Even and Launch Price Estimates

Using standard developer margin assumptions and Singapore construction cost benchmarks for 2026:

  • Land cost: S$14,243 PSM GFA → at an assumed plot ratio of 2.6 and residential-commercial GFA split, the residential land cost component translates to approximately S$1,050–S$1,100 PSF of saleable residential area.
  • Construction cost: S$550–S$650 PSF (mid-to-high spec, mixed-use).
  • Developer margin: 15–20%.
  • Implied break-even (residential units): approximately S$2,350–S$2,600 PSF.
  • Expected launch selling price: S$2,500–S$2,800 PSF, depending on unit mix, floor levels, and market conditions at launch (expected 2027–2028).

At S$2,600 PSF for a 700 sqft 2-bedroom unit, the ticket price would be approximately S$1.82 million. This positions Bayshore Drive as a premium East Coast launch — above the current OCR average but reflecting the TEL uplift and Long Island location premium.

What This Means for D16 Property Buyers and Owners

For existing D16 (Bedok, East Coast, Bayshore) property owners, the strong GLS award price is generally supportive of values in the surrounding area. Developers do not bid aggressively for land unless they believe they can achieve selling prices that justify the land cost — and Gemini’s willingness to commit S$2.128 billion signals confidence in the Bayshore sub-market. Comparable new launches in the area — including upcoming projects near Bedok MRT and along the East Coast Parkway — may find their pricing benchmarks elevated by this award.

For buyers considering D16 resale purchases in 2026, the Bayshore Drive award provides a useful data point: if the new launch from this site prices at S$2,500–S$2,800 PSF, comparably-located resale condominiums trading at S$1,700–S$2,000 PSF represent a meaningful relative discount that may narrow over time as the new launch sets a higher market reference.

What Might Come Next — Project Pipeline and Market Implications

Forward-looking commentary; not confirmed plans.

Gemini is likely to take 12–18 months to finalise architectural plans, obtain the necessary development approvals from URA, and prepare for a new launch sale. Industry expectations place the first preview sales in 2027, with TOP (Temporary Occupation Permit) around 2030–2031. The mixed-use format means Gemini Mall Trust’s commercial component will likely include a neighbourhood retail centre, potentially anchored by a supermarket and F&B cluster catering to the Bayshore residential population — comparable to the model at developments like Pasir Ris 8 or Tengah Plantation.

Watch for URA’s Q2 2026 full data release on 24 July 2026, which will provide updated D16 transaction volumes and median PSF data for the East Coast submarket, helping buyers benchmark current market conditions before this project launches.

Frequently Asked Questions

Who is Gemini Residential Pte. Ltd.?

Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust) are the winning bidding entities for the Bayshore Drive GLS site. As at the award date, further details about the developer behind the Gemini entities — whether a major listed developer or a private consortium — had not been publicly confirmed by URA. Buyers should monitor URA’s project approval records and the developer’s public communications in due course for more information on the project concept and timeline.

What will be built on the Bayshore Drive site?

The site has been tendered and awarded for “commercial and residential” development under URA’s GLS framework. This means the completed project will include both a residential component (private condominiums) and a commercial component (retail, F&B, or office). The exact mix — number of residential units, commercial GFA, design concept, and project name — will be determined by Gemini following URA approval of a development application, which typically takes 6–12 months. A marketing launch is not expected before 2027 at the earliest.

Does this affect my existing D16 condo’s value?

High GLS land bids are generally supportive of surrounding property values, as they signal developer confidence in the area’s future price trajectory. However, the direct impact on your individual unit’s value depends on its specific location, age, facing, and floor level relative to the new development. Owners in Bayshore Road, Eastwood, and Upper East Coast Road estates are likely to see the most direct uplift in market sentiment. Owners in Bedok North, Tanah Merah, or other D16 sub-zones further from Bayshore MRT may see a more indirect effect.

When will the URA Q2 2026 full data be released?

URA’s full real estate statistics for 2nd Quarter 2026 are scheduled for release on 24 July 2026, per the flash estimate press release (pr26-51). The full data will include detailed transaction volume, median PSF, and price index figures by market segment and district — providing the most comprehensive picture of Singapore’s property market performance in April–June 2026. LovelyHomes will publish an analysis of the full data upon release.

Is Bayshore a good area to invest in Singapore?

Bayshore (broadly the stretch from Marine Parade to Bedok along the East Coast) has become increasingly attractive as an investment location following the opening of Bayshore MRT on the Thomson-East Coast Line in 2024. The Long Island reclamation project (preparatory works from end-2026) adds a long-term waterfront development catalyst. Strong fundamentals include proximity to East Coast Park, established schools (Temasek Primary, Victoria Junior College), and a diverse residential community. However, buyers should note that new launch prices in 2027–2028, anchored by the Gemini project, may set a higher reference that reduces relative yield on resale purchases made at current prices. As always, individual unit factors — facing, floor, lease remaining — drive actual returns.

📚 Related LovelyHomes Articles

Disclaimer: This article is based on URA’s public press release pr26-55 (20 July 2026). Break-even and launch price estimates are illustrative projections based on industry assumptions and are not official developer or URA figures. Property values and market conditions are subject to change. Always verify information with URA (ura.gov.sg) and seek advice from a licensed property agent and financial adviser before making investment decisions. LovelyHomes does not represent any developer or agent in connection with the Bayshore Drive GLS site.

Bayshore Drive GLS Tender Closes: What It Means for D16 East Coast Property (July 2026)

Bayshore Drive GLS Tender Closes: What It Means for D16 East Coast Property (July 2026)

by | Jul 15, 2026 | GLS & Land Sales, Market News, Property Investment, Property News, Resources & Tools

📌 Quick Answer — Bayshore Drive GLS Tender Closes (15 July 2026)

  • URA closed the tender for its Government Land Sales site at Bayshore Drive today, 15 July 2026. The site was launched for public tender on 30 March 2026.
  • Bids have been received from developers; URA will evaluate them before announcing the award — expected within four to six weeks of the tender closing date.
  • Bayshore Drive is in District 16 (East Coast / Bedok), adjacent to the Bayshore Road corridor served by Bayshore MRT station on the Thomson-East Coast Line (TEL), which opened in December 2023.
  • The award will reveal land rates — the price per square metre of permissible Gross Floor Area (GFA) — which imply future launch prices and signal developer confidence in the Bayshore precinct’s long-term potential.
  • URA’s Bayshore planning vision includes high-rise residential development near the waterfront, improving public transport connectivity and green corridors to East Coast Park.
  • Comparable nearby GLS awards: Peck Hay Road (D09, June 2026) awarded at approximately S$18,600 psm GFA; River Valley Green Parcel C (D09, June 2026) awarded at S$18,622 psm GFA. D16 awards will be significantly lower.
  • Condo PSF in the Bayshore / East Coast Road sub-precinct currently ranges from S$1,600 to S$2,200 psf (Q2 2026), a premium over broader Bedok at S$1,380–S$1,850 psf, driven by the TEL connectivity uplift.

The Urban Redevelopment Authority (URA) confirmed on 15 July 2026 that it has closed the tender for its sale site at Bayshore Drive and received bids from developers. The site was launched for sale on 30 March 2026 as part of URA’s Government Land Sales (GLS) programme. The formal award decision will be made after URA evaluates all bids and is expected to be publicised within weeks.

For property watchers tracking Singapore’s East Coast corridor and District 16, this tender closing is a significant data point: the eventual award will reveal how bullish developers are on the Bayshore precinct’s long-term value, anchor a price floor for future launches in the area, and signal what residents and investors can expect from new developments in this rapidly evolving part of Singapore.

What Is the Bayshore Drive GLS Site?

The Bayshore Drive site is located in the Bayshore planning precinct, a stretch of District 16 between East Coast Parkway and the Bedok Reservoir corridor. The precinct sits at the end of the Thomson-East Coast Line’s Stage 3 extension, with Bayshore MRT station — opened in December 2023 — providing direct rail access to the Marina Bay Financial Centre (approximately 18 minutes), Orchard Road (approximately 22 minutes), and Marina South Pier.

URA’s 2019 Master Plan and subsequent Draft Master Plan 2025 envision Bayshore as a “car-lite, waterfront-connected” residential precinct with mid-to-high-rise residential towers, enhanced pedestrian links to East Coast Park, and a network of cycling paths. The precinct is designed to be compact and walkable, with community amenities sited within walking distance of the MRT. It is one of several new waterfront residential clusters — alongside Marina South, Mount Pleasant, and Jurong Lake District — that URA is actively seeding through the GLS programme.

Why the Award Will Matter for D16 Property

GLS award prices set a cost floor for developers — they must build, sell, and profit above the land cost. Historically, each S$1,000 psm GFA in land cost translates to roughly S$150–S$200 psf in final launch price, depending on development intensity and construction costs. When URA announces the Bayshore Drive award, it will include the site area, maximum GFA, and the award price per square metre GFA — all of which allow market-watchers to estimate the developer’s minimum viable launch PSF.

District 16 East Coast Bedok condo PSF ranges Q2 2026 Bayshore Road sub-precinct TEL premium
Figure 1: District 16 (East Coast / Bedok) condo transacted PSF ranges by sub-area, Q2 2026. The Bayshore / East Coast Road corridor commands a 10–20% TEL premium over broader Bedok. Source: URA REALIS, indicative Q2 2026 data.

Current condo transactions in the Bayshore Road corridor — covering developments such as Costa Del Sol, The Bayshore, and One Amber — show transacted PSF of approximately S$1,600–S$2,200 in Q2 2026. The higher end of this range reflects newer, well-maintained units near the MRT; the lower end reflects older developments with shorter remaining leasehold tenure. A new development on the Bayshore Drive GLS site, built on a 99-year lease commencing 2026–2027, would likely target a launch PSF of S$2,200–S$2,600 depending on the land rate achieved, construction cost escalation, and developer margin requirements.

GLS Site Summary

Parameter Detail
Site location Bayshore Drive, District 16 (East Coast / Bedok)
Nearest MRT Bayshore MRT (TEL Stage 3, opened Dec 2023)
Tender launched 30 March 2026
Tender closed 15 July 2026
Bids received Yes (number and amounts to be published with award)
Award expected Approximately 4–6 weeks from 15 July 2026
Tenure 99 years leasehold (expected)
Comparable award: RVG Parcel C (Jun 2026) S$18,622 psm GFA (D09 CCR)
D16 condo PSF range (Q2 2026) S$1,380–S$2,200 psf depending on sub-area and age

The TEL Effect: Why Bayshore Commands a Premium Over Broader Bedok

The Thomson-East Coast Line has been one of the most significant infrastructure catalysts for District 16 property values since the Cross Island Line announcement in 2019. Bayshore station — situated on the TEL’s Stage 3 extension — provides a single-seat ride to Gardens by the Bay East, Marina Bay Financial Centre, Shenton Way, and Caldecott (where the TEL intersects with the Circle Line and North-South Line). For East Coast residents who previously depended on buses and the EWL interchange at Tanah Merah, the TEL has materially reduced commute times to the CBD.

Industry analysis of TEL-adjacent transactions suggests a 10–20% PSF premium for units within 400 metres of a TEL station, compared with otherwise comparable units further away. This premium has been sustained since Bayshore station opened in December 2023 and shows no sign of diluting, as demand from young professionals working in the CBD has remained firm.

What Might Come Next

Once URA announces the Bayshore Drive award — likely in August or September 2026 — market-watchers will have a clearer sense of how bullishly the successful developer has priced the land. A high land bid (above S$10,000 psm GFA, which would be the implied benchmark for an OCR/RCR D16 waterfront site) would signal strong developer confidence and likely push neighbouring resale prices higher as buyers anticipate a premium new launch competitor. A more modest land rate would suggest developers are cautious about launching above the S$2,200 psf threshold in a market where OCR softening was a theme in the first half of 2026.

LovelyHomes will report on the award the day it is published by URA. Sign up for our property news alerts to be notified when the Bayshore Drive GLS award is announced.

Frequently Asked Questions

What is the GLS tender process and when will the Bayshore Drive award be announced?

Under Singapore’s GLS programme, URA invites developers to submit sealed bids for a site during a specified tender period. After closing, URA evaluates each bid on price and compliance with tender conditions. The awarded bidder is typically the highest compliant bid. URA normally announces the award within four to six weeks of the tender closing — so a Bayshore Drive award can be expected in August or early September 2026. The announcement will include the bid price, site area, maximum GFA, and the developer’s name.

Should I buy in the Bayshore area now or wait for the new launch?

This is a personal financial decision that depends on your budget, loan eligibility, and timeline. Buying an existing resale unit now locks in a price before any award-driven uplift in sentiment. Waiting for the new launch means purchasing a 99-year lease commencing 2026–2027 at a potentially higher PSF, but with the benefits of modern specifications, full warranties, and a fresh lease. First-time buyers should also consider the ABSD implications — if you already own property, a new launch purchase attracts ABSD — versus the grant eligibility for HDB buyers. Consult a licensed financial adviser before making any decision.

What other GLS sites are currently in the pipeline near District 16?

As at July 2026, the Bayshore Drive site is the primary GLS tender in the East Coast corridor. The Kitchener Link site (D08, launched 25 June 2026 as part of the same GLS batch as Lorong Puntong/Sin Ming) is in a different district but relevant for those tracking city-fringe supply. URA’s 2H 2026 GLS programme also includes the landmark Jurong Lake District (JLD) White Site, which closes for tender in November 2026. No other D16 or adjacent OCR sites are currently on the Confirmed List for 2026.

How do developers price new launches relative to the GLS land rate?

Developers price new launches to cover: the land cost (GFA × award rate), construction costs (typically S$350–S$500 psf of Gross Floor Area in 2026), financing costs during construction, and a margin of approximately 10–18%. For a residential site, if the GFA-equivalent land cost is S$1,200 psf and construction adds another S$450 psf, the developer’s breakeven is approximately S$1,800–S$1,900 psf — meaning a launch at S$2,200–S$2,400 psf provides a 15–20% developer margin at that volume. Award prices significantly above or below this range will shift launch pricing accordingly.

Is the Bayshore Drive site near the East Coast Park beach?

Yes. The Bayshore precinct sits between the East Coast Parkway (ECP) and the existing residential belt along Bayshore Road and East Coast Road, with East Coast Park accessible on foot or by cycling path. URA’s plans for the precinct include improved pedestrian connections under or over the ECP to reach the park directly. Future residents of the Bayshore Drive development should have convenient access to the East Coast Park waterfront, Changi Airport cycling trail, and the planned Bayshore Park connector.

Related Articles on LovelyHomes

Disclaimer: This article is based on the URA press release pr26-54 dated 15 July 2026 and does not include the specific bid amounts or site details contained in Annex A (published separately by URA). PSF figures for District 16 are indicative Q2 2026 market data from URA REALIS and may vary. Forward-looking statements on launch pricing, developer margins, and market impact are editorial analysis only and not investment advice. Always consult a licensed financial adviser or property professional before making any investment decision. Refer to ura.gov.sg for authoritative GLS programme information.

River Valley Green Parcel C: S$750.6M GLS Award — What It Means for CCR Property

River Valley Green Parcel C: S$750.6M GLS Award — What It Means for CCR Property

by | Jul 14, 2026 | Buying Guide, GLS & Land Sales, Market News, Property News, Resources & Tools

⚡ Quick Answer — River Valley Green Parcel C Award

  • The URA has awarded the River Valley Green (Parcel C) GLS tender to SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd. (URA pr26-48, 23 June 2026).
  • The winning bid was S$750,569,199 — equivalent to S$18,621.77 per square metre of GFA.
  • The site occupies 11,516 m² of land with a maximum permissible GFA of 40,306 m², on a 99-year leasehold tenure.
  • The land rate of S$18,622 psm GFA translates to approximately S$1,730 per square foot of GFA — a benchmark that will inform CCR launch pricing from this developer.
  • Estimated breakeven for the developer (land + construction + carrying costs) points to launch prices in the range of S$3,200–S$3,800 psf, depending on unit mix and construction timeline.
  • The River Valley Green precinct (D09 CCR) continues to attract firm developer conviction despite the elevated ABSD environment for foreign buyers.

URA Awards River Valley Green Parcel C for S$750.6 Million

The Urban Redevelopment Authority (URA) confirmed on 23 June 2026 that the Government Land Sales (GLS) tender for River Valley Green (Parcel C) has been awarded to SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd. — a joint-venture consortium — at a bid price of S$750,569,199, or S$18,621.77 per square metre of permissible gross floor area (GFA).

The site was launched for tender on 9 April 2026 as part of URA’s first-half 2026 Government Land Sales programme and closed for bids on 18 June 2026. The 99-year leasehold residential parcel is the third of three River Valley Green sites to be tendered by URA, completing the planned residential component of the River Valley Green development corridor adjacent to Alexandra Canal.

Site Specifications and Award Details

River Valley Green Parcel C GLS tender award details 2026 — site area GFA price developer
Figure 1: River Valley Green (Parcel C) — GLS tender award details. Source: URA pr26-48, 23 June 2026.

What the Land Rate Signals About the CCR Market

The S$18,621.77 psm GFA land rate is a significant data point for the Core Central Region (CCR) residential market. To contextualise: this rate implies a total land cost of approximately S$1,730 per square foot on GFA — before construction, financing, professional fees, and developer profit are factored in.

Industry estimates suggest a typical CCR high-end residential project carries total development costs (land + construction + fees + financing) of S$3,000–S$3,500 psf on GFA before profit. Applying a 15–20% developer margin, the anticipated launch price range for the future project is approximately S$3,200–S$3,800 psf. This range is consistent with the broader CCR pricing environment in 2026 (median S$2,500–S$3,800 psf depending on project age and location) and suggests developers continue to price in buyer demand from Singapore-based ultra-high-net-worth individuals and PRs, notwithstanding the 60% ABSD deterrent for foreign buyers.

The award contrasts with the broader narrative of cooling CCR volumes: while the number of new sale transactions in D09 has declined since the 2023 ABSD hike, absolute pricing has held firm. The S$750.6M bid is a vote of confidence that there is an addressable buyer base — primarily Singapore Citizens and PRs — willing to transact at S$3,200+ psf in the River Valley sub-district.

Context: The River Valley Green GLS Programme

River Valley Green (Parcel C) is the final piece in a three-parcel residential GLS programme that URA has been releasing along the River Valley Green corridor. Earlier parcels in the same corridor attracted competitive bids, establishing a price trajectory for the sub-district. The proximity to the Great World MRT station (Thomson–East Coast Line), opened in 2022, has been a consistent factor cited by market participants in supporting GLS valuations along the Alexandra Canal fringe.

CSC Land Group is a Singapore-based developer with a portfolio spanning residential and mixed-use developments across the island. SMCL Haven 3 Pte. Ltd. is the project-specific SPV established for this joint venture. The choice of a joint-venture structure for a S$750M+ land parcel is consistent with Singapore market practice for managing capital concentration risk on large CCR sites.

Summary: River Valley Green Parcel C at a Glance

Detail Data
URA Press Release pr26-48, 23 June 2026
Site Location River Valley Green (Parcel C), District 9
Tenure 99-Year Leasehold
Land Area 11,516 m² (~124,000 sq ft)
Max Permissible GFA 40,306 m² (~434,000 sq ft)
Winning Bidder SMCL Haven 3 Pte. Ltd. & CSC Land Group (Singapore) Pte. Ltd.
Winning Bid (total) S$750,569,199
Bid Per PSM of GFA S$18,621.77
Bid Per PSF of GFA (approx.) S$1,730
Estimated Launch PSF (industry est.) S$3,200–S$3,800 psf (subject to project planning)

Frequently Asked Questions

What is a GLS tender and how does URA award it?

A Government Land Sales (GLS) tender is Singapore’s primary mechanism for releasing state land to private developers for residential or mixed-use development. Sites are offered on a Confirmed List (mandatory release within a programme period) or a Reserve List (released only when a developer triggers the tender by committing to a minimum bid). Bidders submit sealed tenders by a closing date; URA evaluates bids and awards to the highest qualifying tenderer, subject to a technical reserve price. The award is binding — developers must pay the full bid price and complete development within the stipulated period. The GLS programme is coordinated jointly by URA and the Singapore Land Authority (SLA).

What does this award mean for current River Valley property owners?

For owners of existing freehold and leasehold properties in the River Valley and Orchard fringe (D09), the S$18,622 psm GFA land rate provides a valuation signal. Developers will need to launch the future project at S$3,200–S$3,800+ psf to cover costs — which anchors new-launch comparable pricing in the precinct. Existing resale units in the River Valley sub-district typically trade at a 10–20% discount to new launches of equivalent specification, suggesting a price floor around S$2,800–S$3,400 psf for resale transactions near this site. However, each property is valued on its own merits, and owners should commission a formal valuation from a licensed appraiser before drawing conclusions about their specific unit.

When can buyers expect a new project launch from this site?

Based on typical Singapore residential development timelines — site planning approval (6–12 months), construction (3–4 years for a high-rise residential project) — a project launch from the River Valley Green Parcel C site could be expected in 2027–2028, with TOP (Temporary Occupation Permit) around 2030–2032. This is an estimate based on industry norms and is subject to the developer’s planning decisions, the Economic Development Board’s (EDB) permit process, and building construction pace. The developer has not yet made public announcements about the project name, unit mix, or launch timeline.

Is the 60% ABSD deterring foreign buyers from CCR new launches?

The 60% Additional Buyer’s Stamp Duty (ABSD) for foreign individuals, introduced in April 2023 (raised from 30%), has significantly reduced the proportion of foreign buyers in the CCR new launch market. URA data for 2023–2025 shows foreign purchases as a share of private residential transactions fell from roughly 7–8% (pre-2023) to under 3% post-ABSD hike. In dollar value terms, the deterrent is stark: a foreigner buying a S$4M CCR unit pays S$2.4M in ABSD alone. However, developers targeting the S$3,200–S$3,800 psf range for River Valley Green Parcel C are primarily underwriting to Singapore Citizen and PR demand — the ABSD regime makes foreign buyer demand a bonus rather than a base case for CCR projects launched post-2023.

How does this site compare to the Peck Hay Road GLS award?

The Peck Hay Road site (URA pr26-45, 16 June 2026) was awarded at a different psm GFA rate reflecting its distinct location, plot ratio, and site characteristics. Both sites are in the CCR (D09) and on 99-year leasehold tenure, but their proximity to MRT stations, site geometry, and view potential differ. River Valley Green Parcel C’s proximity to Great World MRT (TEL) is a key differentiator from the Peck Hay Road site, which is closer to the Orchard sub-precinct. Comparing land rates across sites of different specifications is useful for market context but should not be treated as a direct apples-to-apples benchmark.

Related Articles

Disclaimer

All figures in this article are sourced directly from URA press release pr26-48 (23 June 2026). Developer cost estimates, launch price projections, and valuation commentary are based on industry consensus estimates as at July 2026 and are speculative — they do not constitute a valuation or investment advice. Actual launch prices, project timelines, and market outcomes will depend on factors including developer decisions, construction costs, interest rates, and government policy. Readers should consult a licensed appraiser and property professional for advice specific to their circumstances. Official GLS data: ura.gov.sg/land-sales.

Jurong Lake District White Site 2026: Town Hall Link GLS Tender, 1,200 Homes and CRL CR19

Jurong Lake District White Site 2026: Town Hall Link GLS Tender, 1,200 Homes and CRL CR19

by | Jul 9, 2026 | Buying Guide, GLS & Land Sales, Market News, Property News, Resources & Tools

Quick Answer: JLD Town Hall Link White Site at a Glance

  • Site: Town Hall Link, Jurong Lake District (JLD), adjacent to the Jurong Town Hall national monument.
  • Total GFA: 186,139 sqm — one of the largest mixed-use sites launched in Singapore in recent years.
  • Residential: up to 1,200 private residential units.
  • Office: minimum 40,000 sqm — anchoring JLD’s ambition as the largest business node outside the city centre.
  • Complementary uses: up to 44,000 sqm for retail, serviced apartments, hotel, sports, community and medical facilities.
  • Connectivity: integrated with Jurong East MRT interchange (EWL/NSL), future JRL JE5 station, and upcoming CRL CR19 station (planned 2032).
  • Tender closes: 17 November 2026.
  • Why it matters: the White site designation gives developers flexibility to configure uses — residential, commercial, or mixed — based on market conditions at launch, making it one of Singapore’s most strategically significant land sales of 2026.

URA Launches JLD White Site: Singapore’s Most Anticipated 2H 2026 GLS Tender

The Urban Redevelopment Authority (URA) launched the tender for a White site at Town Hall Link in the Jurong Lake District (JLD) on 3 July 2026, marking one of the most significant Government Land Sales (GLS) moves of the year. At 186,139 sqm of total potential Gross Floor Area (GFA) — comprising a minimum 40,000 sqm of office, up to 1,200 private residential units, and 44,000 sqm of complementary uses — this site has the potential to define the next chapter of Singapore’s western regional centre.

The tender forms part of the Confirmed List for the 2H 2026 GLS Programme and will close at 12 noon on 17 November 2026. It comes less than two weeks after URA released its Q2 2026 property price flash estimate showing the overall private residential PPI rising a modest 0.5% — a market context that is stable enough for developers to bid with confidence, but not so frothy as to suggest over-payment risk.

JLD is Singapore’s flagship decentralisation initiative: a vision to create a vibrant live-work-play precinct in the western part of Singapore that can absorb commercial, residential, and civic activity without adding further pressure on the already-congested central business district. The Town Hall Link site occupies a prime position within this vision — sited next to the Jurong Town Hall national monument, directly connected to the Jurong East MRT interchange, and in the future path of two new MRT lines.

What Is a White Site?

A White site in Singapore’s GLS framework is a land parcel that developers may develop for any combination of uses permitted under the Master Plan, subject to a minimum requirement for one or more specified uses. Unlike purpose-specific GLS sites (e.g., residential-only or commercial-only), a White site allows developers to calibrate the use mix based on their read of market conditions at the time of design and launch.

For the Town Hall Link site specifically, the conditions are: minimum 40,000 sqm office; up to 1,200 residential units; and up to 44,000 sqm for complementary uses. The developer awarded the site will have latitude to decide the precise mix of hotel, serviced apartments, retail, community facilities, and sports/recreation components — creating significant design flexibility in exchange for the commitment to deliver a meaningful commercial core.

White sites have historically attracted strong bidding interest in Singapore because they reduce the development risk associated with committing entirely to a single use in a market that can shift between residential launch and commercial occupation. The last major White site in JLD — the site that became J Gateway and the surrounding cluster — generated keen bidding when it was first introduced.

Jurong Lake District JLD Town Hall Link white site GFA breakdown office residential complementary 2026

Figure 1: Town Hall Link White Site — indicative GFA breakdown by use. Total 186,139 sqm. Source: URA pr26-53, 3 July 2026.

The JLD Masterplan: Context for This Site

JLD’s transformation has been driven by two decades of sustained government investment in infrastructure and planning. The revitalised Jurong Lake Gardens (90 hectares) provides the greenery spine at the district’s heart. Two new MRT lines are changing the connectivity calculus dramatically:

  • Jurong Region Line (JRL): JE5 station at Jurong East and JE6 station at International Business Park (planned to open 2028).
  • Cross Island Line (CRL): CR19 station at the heart of the new JLD precinct (planned to open 2032).

The addition of CRL is particularly significant: it will provide a direct east-west connection from JLD to Ang Mo Kio, Pasir Ris, and eventually Changi — transforming what has historically been perceived as a “western” destination into a genuinely cross-island node. For the Town Hall Link site, the multi-level pedestrian connections to Jurong East MRT interchange and the upcoming CR19 station mean that residents and office workers at this development will enjoy arguably the best public transport connectivity of any mixed-use site currently on the GLS market.

The site sits next to the Jurong Town Hall, a gazetted national monument. This adjacency imposes design constraints — any development will need to respect the monument’s visual and physical setting — but also provides a distinctive civic character that differentiates the JLD precinct from purely commercial developments elsewhere.

Development Mix Analysis

Use Component GFA (sqm) Status Commentary
Office 40,000 minimum Mandatory Anchors JLD’s role as business node; positions site as corporate headquarters address
Private Residential Up to ~102,139 (est.), max 1,200 units Optional (developer discretion) 1,200 units at typical 80–90 sqm average ≈ 102,000 sqm; adds residential critical mass to district
Complementary Uses Up to 44,000 Optional (developer discretion) Can include: retail, hotel, serviced apartments, sports/recreation, medical clinics, community facilities, visitor attractions
Total GFA 186,139 One of Singapore’s largest mixed-use GLS sites

At 1,200 residential units, this would represent one of Singapore’s larger single-site condominium developments — comparable in scale to recent developments like Canninghill Piers (696 units) and Lentor Modern (605 units), but notably larger. The scale is appropriate for JLD’s ambition to create residential density that sustains the commercial base.

Key Catalysts and Infrastructure Timeline

The development that occupies this site will benefit from a series of planned catalysts over the 2026–2035 horizon:

Catalyst Timeline Impact on Site
JRL JE5 (Jurong East) and JE6 (International Business Park) Phased opening, 2027–2028 Improved east-west connectivity within JLD; connects IBP to Jurong East interchange
New Science Centre at JLD Expected by 2027 Adds visitor attraction and civic anchor to the precinct; drives weekend footfall
Jurong Gateway Hub (bus interchange + office + retail + community club + library + sports) Expected by 2028 Integrated civic hub immediately adjacent; dramatically increases JLD’s daytime and evening population
CRL CR19 station at JLD Planned 2032 Cross-island connectivity; potential 15% to 20% capital value uplift for residential units at this site based on historical TEL/MRT proximity premiums

Residential Investment Angle: 1,200 Units in JLD

If the awarded developer proceeds with the full 1,200-unit residential allocation, this will be among the more significant new private residential supply additions to JLD since the area last saw major development activity in the 2013–2017 era (J Gateway, Westwood Residences, Lake Grande, Twin Vew). JLD has historically commanded a premium relative to other OCR locations — driven by the live-work-play narrative, the lake setting, and the Jurong East MRT interchange’s accessibility to both the western industrial belt and the central business district via the East-West Line.

A new-launch condo at this site, post-CRL connectivity, could plausibly target $2,000–$2,400 psf based on the trajectory of comparable new launches in OCR/RCR boundary locations in 2025–2026. The tender price paid by the developer will be the key determinant of eventual launch pricing — a high land bid will translate into a premium launch price, while a competitive-but-measured bid could allow the developer to price attractively and generate strong take-up. The tender close date of 17 November 2026 gives the market approximately four and a half months to assess these dynamics.

What This Means for the Broader Market

The JLD White Site launch is a policy signal as well as a commercial opportunity. URA’s decision to include a major White site in the 2H 2026 Confirmed List — rather than deferring it to the Reserve List — indicates confidence that developer demand is sufficient to support a committed bid within the current market cycle. The White site mechanism also signals flexibility: if the residential market softens before design completion, the developer can weight the mix toward commercial and serviced apartment uses.

For existing JLD residential owners — in projects like J Gateway, Lake Grande, Twin Vew, and the upcoming The LakeGarden Residences — the Town Hall Link development represents both an opportunity (improved amenity and connectivity as the precinct builds out) and a risk (increased residential supply within the immediate catchment). On balance, the infrastructure and amenity uplift from the New Science Centre, Jurong Gateway Hub, and CRL CR19 is likely to outweigh the supply effect, particularly for well-located existing units.

What Might Come Next

The following is editorial commentary — not official guidance.

Bidding for the Town Hall Link site is expected to attract Singapore’s larger developers and possibly joint ventures. The scale of the site (186,139 sqm) requires significant capital — a land price in the S$1.5–S$2.5 billion range would not be surprising, depending on the assumed residential launch pricing and the developer’s commercial income projections. International developers with Asian regional headquarters-in-a-hub ambitions could also consider the mandatory 40,000 sqm office component as a corporate campus opportunity.

The CRL CR19 station opening in 2032 is a known future catalyst — developers will model this into their land bid assumptions. A project that launches residential units in 2028–2029 (assuming a 2027 tender award, 1-year design/approval, and early 2028 launch) would be telling buyers that their units will be CRL-connected by the time they reach the 5-year mark of ownership.

Frequently Asked Questions

What does “White site” mean for buyers of the eventual development?

A White site designation affects the developer’s design choices, not individual buyers’ rights. When the eventual development is launched for sale, buyers will purchase units in a standard private condominium development. They will benefit from the mixed-use amenities — retail, food and beverage, possibly a hotel or serviced apartment building within the same development — that result from the White site configuration. The White site label itself conveys no special lease conditions or restrictions on buyers beyond the standard conditions of a freehold or 99-year leasehold private condominium.

When will the residential units at Town Hall Link be available for sale?

The tender closes 17 November 2026. Assuming the tender is awarded in Q1 2027, and accounting for design, planning approval, and construction timelines, the earliest a residential launch could realistically occur is late 2027 or 2028. Physical completion (Temporary Occupation Permit) would likely follow in 2030–2032. Prospective buyers interested in this development should monitor URA and the awarded developer’s announcements in 2027.

How does the JLD CRL station affect property values nearby?

Historical evidence from Singapore MRT openings — most recently the Thomson-East Coast Line (TEL) stages 1–4 and the Downtown Line — suggests that residential properties within 500 metres of a new MRT station tend to appreciate by 8–15% relative to comparable properties further away in the 3–5 years following station opening. The effect is partially priced in ahead of the opening as buyers and investors anticipate the connectivity uplift. For CR19 (planned 2032), properties in the immediate JLD precinct likely already incorporate some forward-looking CRL premium in 2026. The full premium crystallises as the opening date approaches and actual connectivity is confirmed.

Is the Town Hall Link site freehold or leasehold?

GLS sites in Singapore are typically sold on 99-year leasehold terms. The Town Hall Link site is expected to follow this standard. Buyers of units in the eventual development will hold 99-year leasehold titles, with the lease commencement date tied to the date of the land award. Leasehold tenure is the norm for new GLS-sourced developments in Singapore; the premium-location attributes of the site — MRT connectivity, JLD masterplan, CRL uplift — are expected to sustain long-term value notwithstanding the leasehold structure.

What other major GLS sites were launched in 2H 2026?

The 2H 2026 GLS Confirmed List provides a total of 4,745 private residential units. In addition to the Town Hall Link White site, URA also launched sites at Lorong Puntong/Sin Ming Avenue (~140 units, TEL Bright Hill MRT, tender closes 15 September 2026) and Kitchener Link (~145 units, Reserve List, Farrer Park MRT NEL). The full 2H 2026 GLS programme — including industrial and commercial sites — is available on the URA website at ura.gov.sg/land-sales.

Related Articles

Disclaimer

This article is for general informational purposes only and does not constitute financial or investment advice. Details of the Town Hall Link White site are sourced from URA press release pr26-53 (3 July 2026) and the URA website. Developer bidding, design outcomes, launch pricing, and project timelines are speculative editorial commentary and do not represent commitments by URA or any developer. For authoritative site details and tender conditions, refer to ura.gov.sg. Consult a licensed financial adviser before making any property investment decision.

URA GLS 1H2026: New Residential Sites at Lorong Puntong/Sin Ming Avenue and Kitchener Link

URA GLS 1H2026: New Residential Sites at Lorong Puntong/Sin Ming Avenue and Kitchener Link

by | Jul 7, 2026 | Buying Guide, GLS & Land Sales, Property News, Resources & Tools

⚡ Quick Answer: URA 1H2026 GLS — Two New Sites Released 25 June 2026

  • On 25 June 2026, URA released two new residential sites under the 1H2026 GLS Programme.
  • Lorong Puntong / Sin Ming Avenue — near Bright Hill MRT (TEL Stage 3), ~140 units, Confirmed List, tender closes 15 September 2026.
  • Kitchener Link — near Farrer Park MRT (NEL), ~145 units, Reserve List (developer application required).
  • Combined potential yield: approximately 285 new private residential units.
  • Lorong Puntong is part of the Sin Ming residential transformation adjacent to the Bright Hill MRT interchange; Kitchener Link taps Farrer Park’s strong healthcare-driven rental market.

URA Releases Two GLS Sites on 25 June 2026

The Urban Redevelopment Authority (URA) announced on 25 June 2026 the release of two residential sites for sale under the first half of 2026 (1H2026) Government Land Sales Programme. The two sites — at Lorong Puntong/Sin Ming Avenue in Bishan and at Kitchener Link near Farrer Park — represent different tiers of the GLS mechanism: the Sin Ming site is on the Confirmed List (it will be tendered regardless of developer interest), while Kitchener Link is on the Reserve List (a developer must first submit a sufficiently high application price to trigger the tender).

These releases form part of Singapore’s broader housing supply pipeline. The 1H2026 GLS programme was announced in December 2025 with 5,050 private residential units and 3,455 executive condominium (EC) units on offer — a total pipeline of approximately 8,505 units across both Confirmed and Reserve Lists. The Lorong Puntong and Kitchener Link releases bring two additional parcels in the 1H2026 programme to market.

URA GLS June 2026 site comparison Lorong Puntong Sin Ming Avenue versus Kitchener Link residential sites

Figure 1: Key facts comparison — Lorong Puntong/Sin Ming Avenue (Confirmed List) versus Kitchener Link (Reserve List). Source: URA, 25 June 2026.

Site 1: Lorong Puntong / Sin Ming Avenue — Bright Hill MRT Catchment

The Lorong Puntong/Sin Ming Avenue site is located in the Sin Ming planning area, within the broader Bishan/Upper Thomson precinct. Its most significant attribute is proximity to Bright Hill MRT station — the Thomson-East Coast Line (TEL) Stage 3 station that serves the Sin Ming/Upper Thomson Road corridor and will also connect to the Cross Island Line (CRL) when the CRL’s eastern extension opens. Sin Ming Avenue has historically been a light industrial and automotive area; the release of a residential GLS site here is a deliberate planning signal that URA is guiding the gradual residential transformation of the Sin Ming corridor as TEL and CRL connectivity uplift its residential attractiveness.

The site can potentially yield approximately 140 residential units. Industry expectations for the bid quantum fall in the range of S$680–820 psf per plot ratio (ppr), based on comparable land transactions in the D20 catchment. The tender closes on 15 September 2026 at 12 noon. A successful award in Q4 2026 would position a new launch for 2027–2028 at estimated prices of S$2,000–2,400 psf, if comparable to existing condos such as those along Thomson Road and Upper Thomson.

Site 2: Kitchener Link — Farrer Park Reserve List Addition

The Kitchener Link site is within the Farrer Park planning area in District 8, adjacent to Farrer Park MRT station on the North East Line (NEL). Farrer Park has seen steady demand from healthcare workers employed at nearby Connexion (the integrated medical hub) and Tan Tock Seng Hospital. As a Reserve List site, Kitchener Link will only be tendered if a developer submits an acceptable minimum-price application to URA — a demand-sensing mechanism that prevents oversupply when market sentiment is weak.

The site can potentially yield approximately 145 residential units. Comparable land in D8 has transacted in the S$1,050–1,200 psf ppr range in recent tender cycles, suggesting a potential launch price of S$2,100–2,500 psf for a new development here, consistent with resale values in the Farrer Park condo market today.

1H2026 GLS Programme: Where These Sites Fit

Site List Type Est. Units Key Transport Tender / Status
Lorong Puntong / Sin Ming Ave Confirmed ~140 Bright Hill MRT (TEL) Closes 15 Sep 2026
Kitchener Link Reserve ~145 Farrer Park MRT (NEL) Application required
Peck Hay Road (awarded Jun 2026) Confirmed ~220 Newton MRT (NSL/DTL) Awarded Jun 2026
River Valley Green Parcel C (awarded Jun 2026) Confirmed ~350 Havelock MRT (TEL) Awarded Jun 2026
JLD White Site (launched Jul 2026) White Site ~1,200+ Jurong Lake District Launched Jul 2026

The June 2026 GLS releases follow a busy first half for URA land sales. River Valley Green Parcel C was awarded in June 2026 (to CDL at approximately S$1,325 psf ppr), and Peck Hay Road near Newton was also awarded in June. The Jurong Lake District white site was formally launched in July 2026. Against this backdrop, Lorong Puntong and Kitchener Link represent smaller, more surgical supply additions rather than market-moving mega-sites.

What This Means for Buyers and Investors

For buyers evaluating resale condos in the Sin Ming/Upper Thomson and Farrer Park micro-markets, the GLS releases signal new supply entering in 2027–2028 (assuming a standard 3–4 year construction timeline from award to Temporary Occupation Permit). This may create modest pricing competition for older resale stock at launch in those years. However, for capital appreciation investors, the Sin Ming GLS release is a positive long-term signal: URA’s conversion of industrial land to residential use endorses the Bright Hill MRT’s transformative effect on the corridor, and buyers who enter the precinct now may benefit from the full value uplift before new supply arrives.

For the Kitchener Link site, triggering depends on developer confidence in the D8 condo market. If CCR/RCR sentiment remains stable through late 2026, it is likely a developer will submit a trigger application in H2 2026 or H1 2027.

Frequently Asked Questions

What is the difference between a Confirmed List and Reserve List GLS site?

A Confirmed List site is put out for public tender by URA regardless of developer interest — it will be sold. A Reserve List site is only tendered if a developer submits a minimum acceptable price application first. This two-track system lets URA release supply systematically (Confirmed) while maintaining a buffer of ready-to-activate land that responds to actual market demand (Reserve). Reserve List sites are not “less desirable” — they are simply a policy mechanism to avoid releasing land faster than the market can absorb.

When could a new condo at the Sin Ming/Lorong Puntong site launch for sale?

If the Lorong Puntong/Sin Ming Avenue tender closes 15 September 2026 and is awarded in Q4 2026, a developer would typically spend 12–18 months on planning approvals and design before a sales launch. An early preview or public launch could therefore occur in late 2027 or early 2028, with keys (Temporary Occupation Permit) expected by 2030–2031 based on standard construction timelines. Buyers should monitor URA’s tender award announcements and developer project registration notices.

Can foreigners buy units in the new condos developed on these sites?

Yes. Both sites are zoned non-landed private residential, and resulting condominiums are open to Singapore Citizens, Permanent Residents, and foreigners — subject to applicable ABSD rates. Foreign buyers currently pay 60% ABSD. Singapore Citizens pay no ABSD on a first property purchase, and 20% ABSD on a second. The ABSD framework applies uniformly to new launches and resale private condominiums.

How does the Kitchener Link Reserve List site get triggered?

A developer must submit a formal written application to URA with a minimum acceptable price. If URA finds the application price acceptable, it launches a public tender within approximately 8 weeks. The triggering developer then competes openly against other bidders — there is no guaranteed right of purchase just from submitting the trigger application. If no developer submits an acceptable application price, the site remains dormant on the Reserve List.

Where can I find the full URA press release for these two GLS sites?

The official URA press release (pr26-49, 25 June 2026) is available at the URA website under Media Releases. The Lorong Puntong/Sin Ming Avenue tender details are listed under URA’s sites-for-tender page, and the Kitchener Link details appear on the sites-for-application page. Both pages are accessible at ura.gov.sg. The eDeveloper’s Packets with full conditions of tender are available for purchase through URA’s One-Stop Developer Portal.

Related Articles

Jurong Lake District White Site 2026: URA’s Landmark Mixed-Use Parcel
Singapore GLS 2H2026 Programme: Full Supply Analysis
Singapore Property Market Q2 2026: URA Flash Estimates
ABSD Singapore 2026: Complete Guide
Singapore New Launch Condo Buying Guide 2026
Singapore Condo Buying Process Guide 2026
Disclaimer: This article is for general information purposes only and is based on URA press release pr26-49 (25 June 2026) and publicly available GLS data. Indicative tender bid and launch price estimates reflect LovelyHomes’ own analysis and do not constitute financial or investment advice. Readers should verify all GLS details directly with the Urban Redevelopment Authority (ura.gov.sg) before making any property purchasing or investment decision.

River Valley Green Parcel C GLS 2026: Top Bid S$1,730 psf ppr Sets New River Valley Benchmark

River Valley Green Parcel C GLS 2026: Top Bid S$1,730 psf ppr Sets New River Valley Benchmark

by | Jun 19, 2026 | Buying Guide, GLS & Land Sales, Investment Analysis, Market News, Property Investment, Property News

×Enlarged viewClick anywhere outside to close

Quick Answer: River Valley Green Parcel C GLS 2026

  • Tender closed: 18 June 2026. The site received 4 bids, all above S$700 million — exceptional confidence from developers in the River Valley / District 9 market.
  • Top bid: A joint venture between Sunway MCL and CSC Land Group submitted the highest bid of S$750.6 million at S$1,730 psf per plot ratio (ppr) — a new land rate record for the River Valley and Zion precinct.
  • The site: 123,958 sq ft, Gross Plot Ratio 3.5, maximum GFA 433,854 sq ft, located steps from Great World MRT (Thomson-East Coast Line). Estimated yield: approximately 500 units.
  • Expected development: Sunway MCL and CSC Land plan twin 36-storey residential towers. Formal URA award is pending; launch expected 2027–2028.
  • Buyer implications: Higher land cost translates to higher new launch prices in the precinct — industry analysts project future launch prices of S$3,200–S$3,800 psf for this site.

River Valley Green Parcel C: The Last GLS Site in the Great World Precinct

The River Valley Green (Parcel C) Government Land Sales tender closed on 18 June 2026 at 12:00 noon, drawing four bids from established developers — all above S$700 million. The site is the final residential plot to be carved out of the River Valley Green precinct along River Valley Road, bookending a sequence of GLS sales that has transformed the stretch between Great World City and Zion Road.

URA launched the site in April 2026 as part of the 1H2026 GLS programme. At 123,958 sq ft with a GPR of 3.5, it can yield approximately 470–500 residential units. The site occupies a prime position within District 9 (CCR — Core Central Region), within a five-minute walk of Great World MRT Station on the Thomson-East Coast Line, and is flanked by the already-launched River Valley Green developments.

The Bids: A New Land Rate Benchmark for River Valley

River Valley Green Parcel C GLS tender bids June 2026 all four bids S$1730 psf ppr
Figure 1: All Four Tender Bids — River Valley Green (Parcel C), Closed 18 June 2026
Bidder Bid (S$ Million) Land Rate (S$ psf ppr) Premium vs 2nd Bid
Sunway MCL + CSC Land JV (Top Bidder) S$750.6M S$1,730 +4.5% above 2nd
2nd Bidder ~S$718.3M ~S$1,656 —
3rd Bidder ~S$703.5M ~S$1,621 —
4th Bidder ~S$701.2M ~S$1,617 —

The tight clustering of bids — with only S$49.4M separating the top from the bottom bid, and all four above S$700M — reflects strong consensus among developers on the site’s land value. The top bid of S$1,730 psf ppr is approximately 22% higher than the land rate achieved at the most recent comparable River Valley Green tender, and sets a new benchmark for the Zion / River Valley precinct.

How This Compares to Recent CCR Land Sales

CCR GLS land rate comparison 2024 to 2026 River Valley Peck Hay Road Zion
Figure 2: CCR / River Valley Corridor GLS Land Rate Trend (2024–2026)

The S$1,730 psf ppr land rate also trails Peck Hay Road (awarded June 2026 at S$1,865 psf ppr — a new Newton precinct record), placing River Valley Green Parcel C firmly within the upper tier of Singapore’s CCR land market but not at the absolute frontier. The Peck Hay Road site, also in CCR District 11, attracted stronger bids due to its Newton / Cairnhill adjacency and higher-value catchment. The River Valley site, while slightly less premium in location, benefits from the Thomson-East Coast Line connectivity and the established Great World City mixed-use ecosystem.

In comparison, Zion Road Parcel A cleared at approximately S$1,420 psf ppr in 2024, meaning the Parcel C award represents land value appreciation of roughly 22% over that two-year period — consistent with the overall premium property price appreciation of 10–15% across the same period.

What Sunway MCL and CSC Land Plan for the Site

In a joint press release issued on 18 June 2026, Sunway MCL and CSC Land confirmed that if awarded the site, they intend to develop a 500-unit premium residential project comprising twin 36-storey towers. This is the second joint venture between the two developers following their collaboration on ELTA along Clementi Avenue 1 (501 units, launched February 2025). The developers did not disclose pricing but noted their commitment to delivering a premium product reflecting the site’s strategic location and land cost. Formal URA award is expected within weeks of the tender close; launch is anticipated in 2027 or early 2028 subject to planning approvals and construction commencement.

What This Means for Buyers in the River Valley / District 9 Market

Higher land cost at GLS almost always translates into higher launch prices — developers need to recover land, construction, and holding costs, and build in a profit margin. With land at S$1,730 psf ppr and construction costs running at approximately S$600–S$800 psf, industry analysts project break-even prices around S$2,800–S$3,000 psf. A typical developer margin of 15–20% on a prime CCR product would place launch prices in the range of S$3,200–S$3,800 psf. For a 1,000 sq ft unit, that translates to S$3.2M–S$3.8M — firmly above the average SC first-property buyer’s budget, and targeted primarily at SC second-property buyers (20% ABSD), SPR buyers (5% ABSD for 1st property), and overseas purchasers who already pay 60% ABSD on any Singapore condo.

For existing owners in the River Valley, Zion Road, and Great World precinct, the strong GLS result is broadly positive — it reinforces the ceiling for comparable units in the secondary market and supports resale prices in the precinct.

Frequently Asked Questions: River Valley Green Parcel C GLS

What is a GLS tender and what happens next?

A Government Land Sales (GLS) tender is the process by which Singapore’s government — via the Urban Redevelopment Authority (URA) or HDB — sells public land to private developers for residential or mixed-use development. After the tender closes, URA evaluates all bids and formally awards the site, typically within two to four weeks. The developer then pays the accepted bid price, commences planning and design, applies for planning permission, and eventually launches the development for sale — a process that typically takes 18–36 months from GLS award to sales launch.

What does “psf ppr” mean and how does it relate to end prices?

“Per square foot per plot ratio” (psf ppr) is the standard unit for land pricing in Singapore GLS. It normalises land cost across sites of different sizes and densities. To estimate the impact on end unit prices: multiply the land rate (S$1,730) by the GPR (3.5) to get the land cost per square foot of gross floor area — approximately S$4,955 psf GFA. Add construction (S$600–S$800 psf), financing, and marketing costs, plus developer margin, to arrive at approximate launch prices of S$3,200–S$3,800 psf net sellable area.

When will this development launch for sale?

Based on the typical timeline from GLS award to sales launch, the development is expected to launch in 2027 or early 2028. The developers will need to obtain planning approval, finalise design, set up the showflat, and receive the Controller of Housing’s Sale Licence before selling any units. Singapore buyers who are interested should monitor URA’s new sales data and property portals for VIP preview announcements, which typically occur one to three months before the official launch.

Can foreigners buy units in this development?

Yes. Condominiums are open to all buyers including foreigners, subject to ABSD. Foreigners pay ABSD of 60% as at 2026, in addition to Buyer’s Stamp Duty. On a S$3.5M unit, a foreigner would pay BSD of approximately S$184,600 plus ABSD of S$2,100,000 — total stamp duty of S$2,284,600. The high ABSD rate introduced in April 2023 has substantially dampened foreign demand for Singapore condominiums, making CCR new launches now more dependent on Singapore Citizen and SPR buyers than in prior cycles.

Are there any upcoming GLS sites in the River Valley area?

Parcel C is the final GLS residential site in the River Valley Green precinct. The broader 2H2026 GLS programme includes sites in other growth corridors — Jurong Lake District, Tengah, and Bayshore — but no further River Valley or Zion Road residential plots have been announced. Any future supply in this precinct would be from redevelopment of private sites or collective sales (en bloc), which are individually negotiated and not part of the GLS programme. The next significant CCR GLS event to watch is the formal award of River Valley Green Parcel C by URA, expected in late June or early July 2026.

Related Articles

Disclaimer: Bid figures for the 2nd, 3rd, and 4th bidders in the River Valley Green Parcel C tender are estimates based on industry sources at time of publication; only the top bid of S$750.6 million by Sunway MCL and CSC Land has been confirmed via developer press release. Formal URA award is pending. Projected launch prices are analyst estimates and are not representations or warranties. Verify all figures with URA at ura.gov.sg before making any investment decision.

Translate »