Latest GLS Blog Update: Key Tender Outcomes & Upcoming Sites

Singapore’s Government Land Sales (GLS) programme continues to be a central pillar in shaping the residential development landscape. Over the past few weeks, several confirmed-list sites have changed hands, new tenders have opened, and developer interest remains strong—especially in suburbs and city-fringe areas. This update covers the latest GLS results and what’s on the horizon.

📌 Major Recent Tender Wins

1. Chencharu Close (Yishun) – Top Bid S$1.01 Billion
   A consortium led by Evia Real Estate together with Gamuda and Ho Lee submitted the winning offer for the Chencharu Close GLS mixed-use site. The bid works out to about S$980 psf per plot ratio (psf ppr).Business Times
   This site is expected to yield both residential plus commercial space, adding to the vibrancy of the Yishun region.Business Times
2. Chuan Grove – Strong Developer Interest
   The Chuan Grove site, under the 1H 2025 Confirmed GLS list, closed its tender with five bids received.Moomoo+2Urban Redevelopment Authority+2
   The number of bids indicates healthy interest in well-located, mid-to-upper area parcels. Analysts suggest 높은 경쟁 (strong competition) especially when the site has good connectivity and potential for high yield.Moomoo+1

🗺️ Sites Currently Up for Tender / Open Soon

Here are GLS sites currently in the confirmed list or scheduled to be launched, with notable parameters:Urban Redevelopment Authority+1

These sites span a broad mix of locations—from school-and amenity-rich suburbs to city-fringe areas. The varying gross plot ratios reflect different densities and development potential.Urban Redevelopment Authority+1

🔍 Key Trends & Developer Sentiment

• High Competition on Suburban/Mid-Fringe Sites: Developers are increasingly showing strength in bidding for suburban parcels—areas like Yishun, Telok Blangah, Upper Thomson. These offer lower land costs, improving yield potential, while still being well-connected.
• Premium Sites Tread Carefully: Sites in ultra-prime locations or with very high land cost expectations are seeing more cautious bidding, partly due to additional levies, cooling measures, and concern over end-user demand at high price points.
• GLS Schedule Looking Dense: With many sites lined up for late 2025 launches—particularly in Nov-Dec—developers are likely juggling multiple tenders. This may lead to more joint ventures, risk sharing, or strategic withdrawals in some tenders.
• Plot Ratio & Land Area as Watchpoints: Higher plot ratios allow more density (more units) which can spread development costs, but also require developers to think carefully about design, infrastructure, and market absorption. Smaller sites may have premium units but fewer economies of scale.

🏗️ What This Means for Upcoming Developments

• Projects launched from the Chencharu Close site and others like Upper Thomson or Telok Blangah are likely to be priced at the upper mid-range, especially with mixed-use components or premium features.
• Developers might release show units or pre-launch materials earlier to capture buyer interest, using features like amenity richness, transit access, and flexible layouts as key differentiators.
• Expect demand from both end-users (families, owner-occupiers) in suburban developments and investors in sites closer to the city fringe.

Challenges & Risks

• Government Cooling Measures: Additional buyer’s stamp duties, loan-to-value limits, or income fringe policies continue to be factors that could dampen speculative demand.
• Rising Construction Costs: Materials and labour are still under pressure; higher land costs combined with these could squeeze margins.
• User Demand Volatility: Even with strong bids, buyers in the resale market may resist premium pricing, especially for non-prime areas without standout amenities or infrastructure.

Outlook for GLS & Property Market (Next 12-24 Months)

• More GLS launches in Upper Thomson, Dover Road, Bukit Timah are expected. These will be key indicators of how far developers are willing to push land prices.
• End-constructions and presales from sites awarded recently (e.g., Chencharu) will shape buyer expectations, and help determine pricing trends in 2026-2027.
• Affordability will remain top of mind—for both buyers and developers. Packaging, payment schemes, and unit mix (smaller units vs family-sized) will be crucial.
• Developers may seek to partner with foreign funds or institutional investors to manage land acquisition risk and financing, especially for large or high-cost site tenders.