SRI - Singapore Realtors Inc.

27 Nov 2025

Allgreen Tops Bedok Rise GLS with Competitive Land Bid

Property Insight

The Bedok Rise Government Land Sales tender drew strong interest from developers, marking one of the most competitive suburban land tenders in recent years. A total of 10 bidders participated, exceeding the 8 bidders seen at the nearby Bayshore Road site and matching the strongest participation levels last recorded at Slim Barracks Rise in 2021 . This reflects the continued appeal of residential plots in the Outside Central Region, a segment that remains the anchor of new home sales across the island.

Bellis Residential Pte Ltd, linked to Allgreen Properties, submitted the top bid at $464.8 million dollars, translating to $1,330 dollars psf ppr. The gap with the second placed bid by Hoi Hup Realty was very narrow at just 0.4 percent, highlighting the close competition among developers. The spread from the highest to the lowest bid reached 18.6 percent, showing a wide range of price expectations for this site .

Following the recent launch of Promenade Peak in the Rest of Central Region, Allgreen appears to be extending its footprint into the suburban market through this acquisition. The Bedok Rise site provides an opportunity to tap into resilient upgrader demand in a location with an established track record of strong sales. The success of Seneca Residence next door reinforces that confidence. Seneca, launched on the earlier Tanah Merah Kechil Link GLS site, achieved a full sellout and had originally attracted 15 bidders for its land tender, a sign of strong interest in this precinct .

The Bedok Rise plot is expected to yield around 380 units and is well supported by transport and amenity offerings. Its location beside Tanah Merah MRT station offers immediate connectivity to the East West Line. Nearby expressways such as the PIE and ECP enhance accessibility to the rest of Singapore. Schools in the area, including Bedok Green Primary School and Bedok View Secondary School, add to its attractiveness for families. Residents will also enjoy proximity to markets, sports facilities, and neighbourhood parks .

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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Singapore Office Market Review 1H2026: Improving Fundamentals Support Recovery

Singapore’s office market showed early signs of recovery in the first half of 2026, supported by improving economic fundamentals, resilient occupier demand and firmer investor sentiment. The price index for office space in the Central Region increased by 0.5% in 1H2026, reversing the -1.2% moderation recorded in 1H2025. While the improvement remains modest, the return to positive growth suggests that office capital values are beginning to stabilize.

The improvement comes alongside stronger economic conditions, with Singapore’s economy expanding by 5.9% year on year in 2Q2026. Sustained demand for digital solutions, banking and insurance activities, as well as professional and technical services, has provided a supportive backdrop for office leasing demand.

Although 99-year leasehold properties continued to dominate strata office transactions with a 66.2% share in 1H2026, this was lower than 74.5% a year earlier. Meanwhile, the combined share of freehold and 999-year leasehold properties increased from 25.5% to 33.8%, indicating stronger interest in assets offering longer-term value preservation.

Leasing fundamentals continued to provide an important source of support. The Central Region office Rental Index increased by 0.6% in 1H2026, compared with no growth in 1H2025. The simultaneous improvement in rents and capital values suggests that the recovery is being supported by genuine occupier demand, with stronger rental income helping to underpin asset valuations and investment returns.

Looking ahead, Singapore’s office market is expected to remain on a stable footing in the second half of 2026. Resilient economic growth, healthy labour market conditions and continued expansion across office-intensive industries should support occupier demand. While investment activity may remain selective amid geopolitical uncertainty and disciplined capital deployment, improving leasing fundamentals are expected to continue supporting rental and capital value stability.

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here

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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Singapore Shophouse Market 1H2026: Higher Value Deals Drive Investment Growth

Singapore's shophouse market in 1H2026 demonstrated continued resilience despite a moderation in transaction volumes, with investment activity increasingly concentrated in higher-value assets. While the number of caveated shophouse transactions declined from 34 deals in 1H2025 to 25 deals in 1H2026, the total transaction value increased by 14.9% year-on-year, rising from $234.7 million to $269.5 million. This suggests that investors remained willing to deploy significant capital into larger, well-located and higher-quality conservation assets, reinforcing confidence in the long-term fundamentals of the shophouse sector.

Investor preference continued to favour longer-tenure properties. Freehold shophouses accounted for 76.0% of total transaction value in 1H2026, broadly unchanged from the previous year, while transaction value within this segment increased substantially from $176.7 million to $224.0 million. Although 99-year leasehold properties recorded a higher share of overall transactions compared to a year ago, demand remained firmly concentrated in freehold and 999-year leasehold assets, which together represented 84.0% of total transaction value. This reflects continued demand for scarce commercial assets that offer long-term capital preservation, stable rental income and limited exposure to lease decay.

Looking ahead, investment demand is expected to remain resilient through the second half of 2026, supported by Singapore's healthy economic performance, lower interest rate environment and the structural scarcity of conserved shophouses. Investors are likely to continue prioritising well-located assets offering resilient rental income, asset enhancement opportunities and long-term capital appreciation. The combination of limited supply, heritage value and stable income-generating potential is expected to provide continued support for transaction values and reinforce the long-term attractiveness of Singapore's shophouse market.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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Berlayar Drive GLS Attracts Sole Top Bid of $576.8 Million

The Berlayar Drive Government Land Sales site attracted a sole bid of $576.8 million, equivalent to $1,515 per square foot per plot ratio, from a joint venture between Intrepid Investments Pte. Ltd. and GuocoLand (Singapore) Pte. Ltd. The bid underscores the developers’ continued conviction in the long-term potential of the Greater Southern Waterfront and their commitment to establishing a presence within one of Singapore’s most significant waterfront transformation precincts.

Although the site received only one bid, this should not necessarily be interpreted as weak confidence in its prospects. Instead, it reflects increasingly disciplined land-acquisition strategies amid a larger GLS pipeline and more selective capital deployment. With a wider range of sites available, developers are likely to prioritise parcels that best complement their existing landbanks, development pipelines and risk profiles.

Berlayar Drive is the second private residential parcel within the new estate, following the Telok Blangah Road site. A further residential parcel at Berlayar Close is expected to be launched in December. This phased release reflects the Government’s measured approach to developing the Greater Southern Waterfront, allowing future housing supply to be introduced progressively rather than all at once.

The Berlayar Drive site is expected to yield approximately 415 residential units. Its smaller project scale should require a lower upfront capital commitment and reduce construction, financing and market-absorption risks compared with larger developments. The site also carries a maximum building height of five storeys, creating the potential for a distinctive low-rise residential offering focused on privacy, greenery and resort-style living.

Future residents are expected to benefit from proximity to Telok Blangah MRT station, VivoCity, Sentosa, the Southern Ridges and Labrador Nature Reserve. This combination of connectivity, retail and lifestyle amenities, waterfront surroundings and access to nature is likely to support healthy long-term owner-occupier demand.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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