Second Chuan Grove GLS site launched for tender
OrangeTee’s Quek anticipates up to 6 bidders for the site, with a leading proposal of $1,100 to $1,200 psf. “Given that there is a big catchment of potential HDB upgraders from the close-by locations of Serangoon, Bishan, and Ang Mo Kio, developers might be tempted to bid for land here,” he reveals. Quek includes that the landed residential enclaves in Serangoon Gardens and Lorong Chuan can also provide a pool of landed homeowners in the vicinity seeking to right-size.
Huttons’ Yip mentions that the Chuan Grove locations might additionally leverage the restricted source of available real estate in the larger Outside Central Region (OCR). “As of 1Q2025, the OCR has the lowest variety of unsold units of 4,361 in the marketplace,” he states. In comparison, yearly sales in the OCR have averaged about 3,000 units in the last 5 years. This indicates the present unsold supply could be taken in by the industry in just around a year, Yip assessments.
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have actually been sold, keeping just 163 units left. The minimal brand-new housing units might translate to greater demand for future private residential sites, includes Quek.
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future property developments on the Chuan Grove sites can gain from the bottled-up interest that is apparent for brand-new homes in the area. Last November, the release of the Kingsford Group’s Chuan Park, situated just down the road from the Chuan Grove sites, garnered a strong response with 76% of its 916 units snapped up during the release weekend. The units were reselled at an average price of approximately $2,579 psf.
At The Same Time, Marcus Chu, CEO of ERA Singapore, anticipates the outcome of the tender for the Chuan Grove site started last December to factor right into bids for the second plot. “If the initial Chuan Grove site observes high demand and bids, we could see demand spillover into this site,” he states. As it is, he forecasts in between 3 to 5 bids for the most up to date site, with a leading quote of $1,250 to $1,350 psf ppr.
URA has already launched the tender for a residential Government Land Sale (GLS) site around Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold place measures 156,231 sq ft and can produce around 505 units. The site was debuted up for sale as portion of the 1H2025 GLS Programme. The tender is going to shut on Sept 4.
As the Chuan Grove plots are located right next to each other, they share similar locational aspects, sees Mark Yip, CEO of Huttons Asia. The Chuan Grove site is a five-minute walking to Lorong Chuan MRT Station on the Circle Line, whilst additionally being beside the NTP+ shopping center, that provides dining and retail amenities.
Academies within a 1km span of the site include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International Academy is additionally not far away, which might supply a pool of interested renters, claims Yip.
This is the second GLS location at Chuan Grove to be started for tender. Last December, a surrounding plot within the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, which can likely produce 555 property units, will finalize on July 8.
He thinks the newly-launched Chuan Grove site might draw in up to 3 prospective buyers, with a top proposal varying from $900 to $1,000 psf per plot ratio (ppr). “Despite the unpredictabilities from international excises, this site has reasonably reduced risk, considering the low level of unsold units in the area as well as islandwide,” he says.
