19 Jul 2024
GLS Tender Results on Canberra Crescent, De Souza Avenue & Zion Road (Parcel B)
Property Insight

The report on the Government Land Sales (GLS) Tender Results for Canberra Crescent, De Souza Avenue, and Zion Road (Parcel B) highlights positive developer interest and investment potential in these areas, driven by strategic location, future land scarcity, and community development.

Canberra Crescent saw three bids, with Peak Nature Pte Ltd and Huatland Development Pte. Ltd. leading at $279.0 million, translating to $793 psf per plot ratio (ppr). This reflects a 3.3% increase from the previous bid for a neighboring site, signaling positive market confidence. Developers' interest is particularly notable given the absence of upcoming land releases in the Sembawang area, positioning Canberra Crescent as a valuable acquisition amid limited future opportunities.

The location benefits from excellent connectivity and nearby amenities. Situated close to Canberra and Sembawang MRT stations and major expressways, the area offers easy access to the city and key locations. Local developments like Canberra Plaza and Bukit Canberra enhance the locale’s appeal, providing extensive retail, dining, and recreational facilities, supporting a self-sufficient community. The previous successful launches of nearby projects like The Commodore and The Watergardens at Canberra suggest a robust demand, anticipating a strong market response for future developments, potentially fetching between $1,800 to $2,000 psf.

De Souza Avenue attracted developers with its prime location in the Rest of Central Region (RCR), fetching a top bid of $278.9 million ($841 psf ppr) from SL Capital (8) Pte Ltd. The area's appeal is augmented by its proximity to Beauty World MRT station, abundant green spaces, and reputable schools, making it attractive for family-oriented developments. The local market shows stability with positive price trends, indicating strong future potential. The manageable size of the land parcel also makes it appealing for boutique developments.

Zion Road (Parcel B), with its strategic urban location, drew a highest bid of $730.1 million ($1,304 psf ppr) from Valerian Residential Pte. Ltd. (Allgreen Properties Limited). This area's value is enhanced by its connectivity, situated between Great World and Havelock MRT stations, and its proximity to key shopping and lifestyle destinations. Despite the high bid, it was 34.0% lower than the neighboring parcel, suggesting a cautious market approach amid potential future land releases. 

Overall, these areas represent significant investment opportunities with their strategic locations, comprehensive amenities, and potential for substantial returns on development. The careful calibration of bids and the projected pricing strategies reflect an optimistic yet prudent market outlook, poised for growth as new developments come to fruition.

 

Click here for th e full report  

 

 

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics  

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11 Nov 2025
Bukit Timah Road GLS Draws Strong Developer Interest with Top Bid at $1,820 psf ppr

The Bukit Timah Road Government Land Sales (GLS) site attracted strong developer interest, drawing eight bidders in total. The top bid was submitted by HH Investment Private Limited, a company linked to Taiwan’s Huang Hsian Construction Corporation, at $566.3 million or $1,820 psf ppr. This outpaced the second-highest bid from Hoi Hup Realty and Sunway Developments by 12.3%, underscoring robust confidence in the site’s long-term potential. It also marks the highest GLS land bid since the Cuscaden Road site in 2018, which achieved $2,377 psf ppr.

The spirited participation highlights developers’ optimism toward the Core Central Region (CCR) market amid its ongoing recovery. With limited centrally located residential plots available, the strong premium over competing bids demonstrates the strategic value developers place on sites that combine connectivity, exclusivity, and investment resilience.

Located within the Newton Planning Area, the site is zoned for Residential (Non-Landed) use and is expected to yield about 340 housing units. It benefits from direct access to Newton MRT Interchange, linking the North–South and Downtown Lines, and close proximity to Orchard Road and the CBD. This connectivity enhances its appeal among both investors and owner-occupiers seeking convenience and long-term capital stability.

The area’s transformation is further supported by the upcoming Draft Master Plan 2025, which envisions Newton evolving into a vibrant mixed-use precinct anchored around Newton Circus, Scotts Road, and Monk’s Hill. These clusters are set to feature enhanced greenery, improved public spaces, and an integrated mix of residential, lifestyle, and retail offerings. The Bukit Timah Road GLS site will likely emerge as a key catalyst in this rejuvenation, potentially serving as the first major residential development to lead Newton’s renewal journey.

The tender outcome mirrors earlier activity in the Newton precinct, particularly the Kampong Java Road GLS site that was awarded for Kopar at Newton, which attracted seven bids at the time. The consistency of competition affirms the enduring attractiveness of Newton as a luxury residential enclave and its positioning for long-term growth.

Market momentum in the CCR strengthened in 3Q2025, with developers selling 903 units, the highest quarterly figure since 4Q2010 (994 units). This resurgence reflects growing confidence and demand among affluent buyers, buoyed by recent successful launches such as River Green, UpperHouse at Orchard Boulevard, and The Robertson Opus. These projects have reignited enthusiasm for luxury homes through strong branding, architectural distinction, and desirable locations.

The sustained performance of the CCR segment reinforces the market’s resilience, particularly for premium developments that continue to draw discerning local and foreign buyers seeking enduring value.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
04 Nov 2025
Kingsford Tops Bid for Telok Blangah Road GLS Site at $1,326 psf ppr

Kingsford Development has emerged as the top bidder for the Telok Blangah Road Government Land Sales (GLS) site, marking a strategic expansion of its landbank into the Rest of Central Region (RCR). The developer submitted a winning bid of $918.3 million ($1,326 psf ppr), surpassing the second-highest offer by 4.4%. This reflects Kingsford’s strong conviction and competitive stance in securing a site within one of Singapore’s most ambitious urban transformations—the Greater Southern Waterfront (GSW).

With the GLS programme ramping up to ensure a steady housing pipeline, developers are exercising greater selectivity and spreading participation across more sites. The Telok Blangah Road parcel stands out as a trophy opportunity for forward-looking developers seeking early positioning in this transformative district. The site is expected to yield about 745 residential units, offering excellent connectivity and proximity to HarbourFront, VivoCity, and Sentosa Island—key lifestyle and retail anchors that enhance its attractiveness. Nearby rejuvenation works, including the planned redevelopment of HarbourFront Centre into a 33-storey mixed-use building, will further reinforce the precinct’s long-term appeal.

As the first private residential plot under the GSW transformation, the Telok Blangah Road site is expected to set early benchmarks for design, pricing, and urban integration—much like the Turf City GLS site in Bukit Timah.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
27 Oct 2025
3Q2025 HDB Resale Market Trends: Steady Growth and Sustained Demand

The HDB resale market maintained steady momentum in 3Q2025, reflecting sustained buyer confidence amid an evolving public housing landscape. While the pace of growth moderated compared to 2024, transaction volumes and prices continued to show resilience, supported by stable demand for well-located and newer flats that have recently reached their Minimum Occupation Period (MOP).

Overall, HDB resale prices increased by 2.9% in the first nine months of 2025, moderating from the stronger 6.9% growth recorded during the same period in 2024. The moderation reflects a gradual normalisation in market conditions as more Build-To-Order (BTO) and Sale of Balance Flats (SBF) supply enters the pipeline. The ramp-up of new flats, particularly those with shorter waiting times, provided buyers with more options and helped to ease the pace of resale price growth.

Resale transactions reached about 7,500 cases in 3Q2025, slightly higher than the previous quarter. Demand remained healthy in both mature and non-mature towns. Mature estates such as Ang Mo Kio, Toa Payoh, and Queenstown continued to attract steady demand due to their accessibility and established amenities, while non-mature towns such as Yishun, Woodlands, and Sengkang drew buyers looking for affordability and newer flats with remaining lease value.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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