The Urban Redevelopment Authority has just closed the tender for a site at Chuan Grove. The site was launched under the 1H 2025 Government Land Sales Confirmed List, and can yield around 505 residential units.
There were five bids received for this plot, which was within our expectations. The highest bid was from Sing Holdings Residential Pte. Ltd. and Sunway Developments Pte. Ltd. at a bid price of S$623,910,000 or around S$1,331 psf ppr. This was 2.9 per cent higher than the next highest bid from COLI (Singapore) Pte. Ltd., which was S$606,060,000 or around S$1,293 psf ppr.
The highest bid price for this land plot was 3.3 per cent lower than the other Chuan Grove (2H 2024) land parcel, which was awarded in July 2025 to Sing Holdings Residential Pte. Ltd. and Sunway Developments Pte. Ltd. at a bid price of S$703,600,000 or around S$1,376 psf ppr. Seven bids were submitted for that earlier land parcel.
This site has slightly more complex building requirements than the previous plot, which include building a new Neighbourhood Park nearby, in addition to catering for an Early Childhood Development Centre. These may add on to the construction costs in this project.
Nonetheless, participation in this land tender exercise remained healthy, and may have come from a few factors. There has been a dearth in new project launches in the Lorong Chuan area, which is one of the more attractive OCR areas bordering the city fringe. The most recent project launch was Chuan Park in November 2024, which saw excellent sales during its launch weekend where 76 per cent of the 916 units in the project were sold. This may be indicative of the underlying pent-up demand for homes in the vicinity, which developers may wish to tap on.
Moreover, there is also a large catchment of potential HDB upgraders from the nearby areas of Serangoon, Bishan, and Ang Mo Kio, as well as landed home downgraders in the vicinity of Serangoon Gardens and Lorong Chuan who may be looking to right-size their property. The site is close to Lorong Chuan MRT and a mall, providing future residents with easy access to transportation and various amenities. It is also within 1km of a number of primary schools, which may boost demand from families with school-going children as well. Rental opportunities may come from the nearby Australian International School, which is within walking distance. Overall, the strong attributes in this site may have been enticing to developers, resulting in keen interest here.