The Urban Redevelopment Authority has just closed the tender for a land parcel at Berlayar Drive. The site can yield approximately 415 units.
The sole bid submitted was from Intrepid Investments Pte. Ltd. and GuocoLand (Singapore) Pte. Ltd. at a bid price of S$576,778,554 or around S$1,515 psf ppr. The land rate for this site was 14.2 per cent higher than first site at Telok Blangah Road which was awarded at S$1,326 psf ppr.
Global macroeconomic uncertainty may have resulted in greater caution displayed for this bidding exercise. Some developers may also be waiting for the launch of the third Berlayar plot in December 2026, which can yield approximately 695 units. Acquisition of land parcels may have become more selective as the 2H 2026 GLS programme still has attractive land parcels slated for launch soon. Nonetheless, we expect strong demand for the future project here.
The land parcel is well-located, near employment areas such as Mapletree Business City and Labrador Tower, and is a short drive away from the CBD. It is also well-served by amenities such as VivoCity and Telok Blangah MRT station. With the upcoming development of the new Berlayar estate, new amenities will be introduced to the area offering future residents a highly convenient and well-connected living environment. With this site located close to the waterfront, some units may be able to enjoy sea views as well, which may not be available for the other private residential land parcels in Berlayar.
The strong potential of this site, nestled within the upcoming Berlayar estate within the Greater Southern Waterfront transformation, will likely see strong buying interest when it enters the market. In the first half of 2026, median resale prices of 4-room and 5-room flats in Queenstown have reached S$1.02 million and S$1.23 million respectively while median resale prices of 4-room and 5-room flats Bukit Merah have reached S$938,000 and S$1.08 million respectively. The robust resale prices of flats in these nearby towns will enable HDB flatowners to consider upgrading to the new project here, potentially adding to the demand for the upcoming project.