The Urban Redevelopment Authority has closed the land tender for a site at Kallang Close under the 2H 2025 Government Land Sales (GLS) programme. The site can yield approximately 470 units.

Four bids were received for this plot, with the highest bid from Frasers Property Phoenix Pte. Ltd. and MJR Investment Pte. Ltd. at a bid price of S$610,750,000 or around S$1,415 psf ppr. This is around 0.7 per cent higher than the next highest bid from CDL Kallista Pte. Ltd.  

The healthy response to the tender was not surprising. The future development here will enjoy waterfront living close to Kallang and Bendemeer MRT stations. Moreover, the site’s appeal is strengthened by its potential to be one of the first residential sites introduced as part of the revitalisation of the area along the Kallang River.

Potential future redevelopment of nearby industrial areas, such as Kallang Distripark and Geylang Bahru Industrial Estate, for housing could enhance the surrounding residential environment over time, although these plans are still at an early stage. In the longer term, the Government's plans to introduce new neighbourhoods along the Kallang River may also gradually reduce the presence of industrial uses nearby.

Comparable GLS sites include the sites at Dorset Road and Tanjong Rhu Road, which were awarded in October 2025 at a land rate of S$1,338 psf ppr, and in February 2026 at a land rate of S$1,455 psf ppr, respectively. New launches in the Kallang planning area are few, including the freehold projects Arina East Residences and The Arcady at Boon Keng. Given the scarcity of new projects in the vicinity, there may be healthy buying demand for the future project here, especially from homebuyers aiming to live near the waterfront and the city. Additionally, as the locale is developed progressively, more amenities will bring greater convenience to residents, increasing the attractiveness of this location.

Demand for homes in Kallang have generally remained strong through the years, as observed from the strong application rates of BTO flats in the area. With around 1,000 4-room flats set to fulfil their MOP from 2026 to 2028 in Kallang/Whampoa, some of the buying demand for the future project may come from HDB upgraders staying nearby. These upgraders may also be supported by the strong HDB resale prices in the area, given the established city fringe location and close proximity to various amenities including MRT stations.