Realion (OrangeTee & ETC) comments on the GLS programme 1H 2026

Published Date: Tuesday, 02 December 2025 | 253 Views

Private ResidentialGLSGovernment PoliciesSupplyLaunches2025Q4DecEnglishFree

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Overview

Several new sites are being developed in growth areas such as Holland Plain, Belayer Drive, and Bayshore. The strategic release of private land in the same region as the new Build-To-Order (BTO) flats is a good move, ensuring a healthy balance of both private and public housing. Moreover, HDB upgraders living in these neighbourhoods will have the option to move into nearby private housing units if they choose to upgrade in the future. It is also a good move to release more Executive Condominium (EC) sites, as demand for EC units remain high and increased supply can help stabilise the prices of new ECs.

Site Analysis

Holland Plain - This is the second of eight residential land parcels to be launched in the new Holland Plain precinct under the Urban Redevelopment Authority (URA) masterplan. The first site, which is adjacent to this plot, was sold to Sim Lian Group Limited at S$368.4 million at a land rate of S$1,432.09 per sq ft per plot ratio. The site attracted five bidders, indicating developers' confidence. With prime land becoming increasingly rare and this new precinct envisioned as a low-density neighbourhood, new properties developed here are likely to attract keen interest from luxury home buyers, positioning this area as one of the most anticipated future prime residential zones in the upcoming years.

River Valley Green - This is the third plot to be launched for sale in the past two years. The previous site has been developed into the new project River Green (Parcel A), which experienced strong sales, with 86.1 per cent of units sold within the first month. The other site has been developed as River Modern (Parcel B), is expected to be launched in Q1 2026. This River Valley Green site is likely to attract buyers due to its prime location near the Great World MRT station and the Great World shopping mall. It is also surrounded by reputable schools such as River Valley Primary School, Alexandra Primary School, and St. Margaret's Primary School, and is close to the Orchard Road shopping belt.

Peck Hay Road – This site is developed as part of the URA Draft Master Plan transformation for the Newton area. The Peck Hay road site is a prime location, situated at the heart of the Cairnhill area, where many prestigious luxury homes are found. New condominiums are rare in this prime area. The latest launch in the area was a government land sale plot on Bukit Timah Road, awarded on November 21, 2025, for S$566.3 million, which is S$1,819.98 per square foot per plot ratio. This Peck Hay Road site is highly convenient, situated within walking distance of an MRT station and the Newton Food Centre. With the demand for luxury homes gaining traction this year, we anticipate that this site will be popular among buyers.

Belayer Drive - This is the second site to be developed in the Greater Southern Waterfront transformation. The previous plot was the Telok Blangah site, awarded in November 2025 to Kingsford Huray Development Pte Ltd at S$918,300,400, or a land rate of S$1,326 psf ppr. Earlier projects, such as The Reef at Kings Dock and Reflections at Keppel Bay, have all been sold out. We anticipate healthy participation due to the potential buyer interest in the Greater Southern Waterfront transformation. Many units will also enjoy sea views, and the development is in proximity to the CBD and Orchard.

Canberra Drive EC - It has been a while since an EC was launched in Canberra. The last EC site closed was the Sembawang Road (EC) in September 2025 for S$197,777,000, or a land rate of S$691.93 psf ppr with 4 bidders. As a result, there could be strong pent-up demand for ECs in this area. Despite the launch of more ECs in the past two years, demand for new ECs will likely stay robust. This is because prices of new condominiums have been holding firm, especially in the suburbs. Therefore, many HDB upgraders will continue to buy ECs for their affordability and the deferred payment scheme.

New Upper Changi Road - This is a very big site that can develop more than 1,000 units. Many of the units will enjoy unblocked views as it is adjacent to low-rise landed properties. The development is also within walking distance to the MRT station and surrounded by amenities like Bedok Mall, Bedok Stadium and schools like Temasek Junior College, Bedok Green Primary School, Fengshan Primary School and Opera Estate Primary School. It is also within driving distance to Singapore Expo, Our Tampines Hub and Jewel Changi. The last launch in this area was Sky Eden in 2022, which was three years ago. Therefore, there should be pent-up demand for private homes in Bedok.

Lorong Puntong - This project will be popular among families as it is beside the reputable Ai Tong Primary School, with other schools like Pierce Secondary School and Eunoia Junior College nearby. It is also within walking distance to Bright Hill MRT station and Midview City, with easy access to amenities like Bishan – Ang Mo Kio Park and is a short drive to Thomson Plaza. It has been a while since the last GLS launch in this area, being Thomson Impressions (Lorong Puntong), which was awarded in October 2014 for S$173,570,000, or S$731.10 psf ppr. However, potential buyers should note that this project is located adjacent to a religious site, which may not appeal to everyone.

Sembawang Drive EC - This could be the least popular site among all the other sites in the confirmed list. This site is not close to an MRT station or key amenities. Similarly, the previous EC site awarded was the Sembawang Road (EC) in September 2025 for S$197,777,000, or land rate of S$691.93 psf ppr with 4 bidders. However, eligible buyers looking for an EC or enjoy greenery may be attracted to this site.

Bayshore Drive - This is the second plot to be released in the Bayshore area. The previous site was awarded in March 2025 to Sing-Haiyi Garnet Pte. Ltd. at S$658,888,998 or a land rate of S$1,388 psf ppr. We anticipate strong bidding interest, as Bayshore is slated to be a new transformation area with many new amenities and residences under construction. Moreover, this site will be an integrated development with retail and dining amenities. It will also be directly connected to the future Bedok South MRT station and a new bus interchange. The high-floor units are expected to enjoy sea views. However, private homeowners may need to wait longer if they plan to sell their units here, as potential buyers from HDB upgraders living in the nearby new BTO flats will be subject to a 10-year MOP.

White site (Town Hall Link) - It is a positive move to subdivide the Jurong Lake District site, especially since the previous launch closed without an award. Given the scale and complexity of the original parcel, attracting a larger pool of bidders might always be challenging. At that time, only one consortium submitted two concept proposals. For context, earlier white sites for the current JEM and Westgate drew six and five bids, respectively, when they were launched in 2010 and 2011, indicating that developers do have interest in the area. However, they might most likely be deterred by the size, complexities and associated costs. By offering the land in smaller plots, the site becomes more accessible to a broader range of developers. As such, the upcoming launch could reasonably attract between three and five bidders.