Singapore, 4 December 2023 - The Urban Redevelopment Authority (URA) has just launched the land tender of Zion Road. The Zion Road (Parcel A) plot will have a commercial component of 2,400 sqm (inclusive of 600sqm for a childcare center). The site is well located with good transport connectivity, and is close to shopping amenities such as Great World mall. The site may be directly connected to the Havelock MRT on the TEL. There are a number of popular schools within 2km radius of the plot which will attract families with school-going children, such as Alexandra Primary School, Cantonment Primary School, CHIJ (Kellock), Crescent Girls’ School, Gan Eng Seng School, Radin Mas Primary School, River Valley Primary School, Tanglin School, and Zhangde Primary School.
The supply of new homes in the area remains relatively limited. The last GLS sales was Rivierie, at Jiak Kim Street, awarded in December 2017 to FCL Residences Pte. Ltd. at a tender price of S$955,407,818 or S$1,733 psf ppr. As of October 2023,’s Monthly Developer Sales data, Riviere is fully sold out. Sales are strong at another nearby project, Irwell Hill Residences, with only a few balance unsold units.
There will be few new housing alternatives for buyers. The adjacent Parcel B plot is on the Reserve List, and may be triggered for sale or moved to the Confirmed List in future GLS programmes depending on the sales response of Parcel A. Buyers who are interested in staying in this locale will likely consider the future project at Parcel A.
The large overall GFA of Zion Road (Parcel A) may result in developers forming consortiums to mitigate development risks, as the final bid price may cross S$1 billion. For this site, we anticipate 2 to 4 bidders, at a highest bid price of S$1,500 to S$1,650 psf ppr.