The Urban Redevelopment Authority has just closed the tender for a land parcel at Bayshore Drive. The site can yield approximately 1,280 units, 22,500 sqm of commercial space, and will house a bus interchange and a connection to Bedok South MRT station.

The highest bid was from Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust) at a bid price of S$2.128 billion or around S$1,323 psf ppr, 5.8 per cent higher than the next highest bid from Chiron Bay Pte. Ltd. and Chiron Bay Investments Pte. Ltd.. A total of three bids were submitted for this site, the same number as the tender for the mixed commercial and residential development at Hougang Central.

The healthy participation in the tender was not unexpected. As a mixed-use commercial and residential development that will be integrated with Bedok South MRT station, future residents will benefit from the excellent location, connectivity, and amenities at their doorstep. The future project here will be within 1km of schools including Temasek Primary School and Temasek Secondary School, which will be a bonus for homebuyers with school-going children. The retail component at this future development will likely see heavy footfall from nearby residents, and the eventual extension of the TEL to Changi Airport may entice investors seeking rental opportunities.

This is the second private residential site launched in the Bayshore precinct, where there will be an estimated 3,000 private homes out of 10,000 homes total. The first private residential site was awarded in March 2025 to Sing-Haiyi Garnet Pte. Ltd., at a bid price of S$658,888,998 or S$1,388 psf ppr, yielding 515 units. That site became the project Vela Bay, which sold 72 per cent of its units when it launched in April 2026. Units were sold at an average of S$2,886 psf during the launch weekend, setting one of the new benchmark prices for the Outside of Central Region and signalling both keen consumer demand and confidence in the potential of homes in Bayshore.

After the release of this second private land parcel for sale in Bayshore, there may be limited private residential development land left for acquisition here. Around 3,000 private homes have been planned for Bayshore, and over half of this supply has been released: Vela Bay has 515 units, and the Bayshore Drive site can yield up to 1,280 units.

Moreover, this is the only mixed commercial and residential development released for sale in 1H 2026, and only one white site at Town Hall Link is available in 2H 2026. Integrated developments remain highly popular with homebuyers, and recent integrated projects in the East such as Parktown Residence and Pinery Residences saw brisk sales when they were launched, which may point to similar strong sales when the development here enters the market.