The Urban Redevelopment Authority (URA) has awarded the 99-year leasehold Government Land Sales (GLS) site at Chuan Grove (District 19) to a joint venture between Sing Holdings and Sunway Developments for S$703.6 million, translating to S$1,376 per square foot per plot ratio (psf ppr).
Key Highlights
- 7 bidders vied for the site; the winning bid was the highest among them.
- The second-highest bid came from CDL Divine (City Developments Ltd) at S$655.5 million (~S$1,282 psf ppr), followed closely by Sim Lian Land at S$655 million (~S$1,281 psf ppr).
- The top four bids were within a tight 10% range, indicating strong developer confidence in the location.
Site Overview and Location
- Land Size: ~15,831–16,000 sqm (about 1.58 hectares)
- Gross Plot Ratio: 3.0
- Potential Units: Estimated yield of around 550 residential units
- Connectivity:
Just 400m from Lorong Chuan MRT station
Close to Australian International School and several popular primary schools
Located in a mature neighbourhood with amenities, parks, and connectivity
Developer & Market Commentary
- Analysts from CBRE, ERA, and PropNex noted the bids reflect solid demand for well-located suburban projects.
- Based on land cost, projected launch prices could range from S$2,700–2,750 psf, appealing to HDB upgraders and private homebuyers.
- The site is close to Chuan Park, a recent launch where 84% of units were sold at an average of S$2,591 psf.
Comparisons and Confidence
- The bid is on par with the Bayshore Road GLS site (S$1,388 psf ppr) and just under Dunearn Road’s record (S$1,410 psf ppr).
- Sing Holdings–Sunway’s win shows growing interest in the Outside Central Region (OCR) market with stable demand and manageable risk.
Future Outlook
- The joint venture is expected to launch the project in late 2026 or early 2027.
- The site’s strong MRT proximity, school access, and established estate environment are expected to drive buyer interest.
- Experts forecast steady demand and competitive pricing in this mature housing enclave.
Conclusion
The Chuan Grove site’s GLS tender award at S$703.6 million to Sing Holdings and Sunway marks a strategic land acquisition in a well-connected district. With 7 competitive bids and a projected yield of 550 units, the site is expected to be a strong contender in Singapore’s suburban property landscape.
