The Urban Redevelopment Authority has just closed the land tender for a site at Bedok Rise under the 2H2025 Government Land Sales (GLS) programme. The site can yield approximately 380 units.

There were ten bids received for this plot, which was above our expectations. The highest bid was from Bellis Residential Pte. Ltd., at a bid price of S$464,800,000 or around S$1,330 psf ppr. This was above our estimates, and was 0.4 per cent higher than the next highest bid from Hoi Hup Realty Pte Ltd, which was S$462,800,000 or around S$1,324 psf ppr.

Notably, the highest land rate submitted today is on par with the recent Dorset Road and the Telok Blangah Road sites in the RCR, which had winning bids of S$1,338 psf ppr and S$1,326 psf ppr, respectively. Moreover, the last time GLS tenders had such strong participation were for the Slim Barracks Rise (Parcel A and B) sites in 2021, which had ten bids each.

Various factors contributed to the strong response for this site. The site is well-located, just across from Tanah Merah MRT station, offering strong connectivity for future residents. The future upgrading of Tanah Merah MRT station to become an interchange linking both the Thomson-East Coast Line and the East-West Line, will further enhance connectivity to the city and major employment hubs such as Changi Airport and Changi Business Park, which may boost the rental potential of units here.

Residents will be served by the shops at the upcoming commercial space in Sceneca Square, which is part of the mixed development Sceneca Residence. The site is also near various schools, including Anglican High School, Bedok View Secondary School, Bedok South Secondary School, and Temasek Primary School, which would likely make the future project here popular with families.

It has been some time since the last GLS site was released in the near vicinity. The closest land parcel was the site at Tanah Merah Kechil Link, now the project Sceneca Residence, which was awarded in November 2020 at a land rate of S$930 psf ppr. 15 bids were submitted for that land parcel, indicating strong interest in that parcel. More recently, a site at Bayshore Road was awarded at a land rate of S$1,388 psf ppr in March 2025. That site also saw keen contest, with eight bids submitted.

While the area is already well-established with several existing projects, interest in D16 remains strong - as seen from the earlier Bayshore Road GLS tender. With upcoming transformation plans, excellent connectivity, and its position as the last land parcel directly beside the MRT station, the site has become highly attractive to developers. Given these strong attributes and the lack of new homes in the vicinity, the future project here is expected to see healthy demand.