The Urban Redevelopment Authority has closed the land tender for a site at Media Circle (Parcel B) which was launched under the Confirmed List of the 2H2024 Government Land Sales (GLS) programme. This site can yield around 500 units, and 400 sqm of commercial space.
No bids were received for this parcel. The last time such an occurrence took place for the GLS programme was during the tender closing of Upper Thomson Road (Parcel A) in June 2024. Meanwhile, the neighbouring Media Circle (Parcel A) plot received three bids when the tender closed in March 2025.
A few factors may have contributed to the lack of participation for the land parcel this time. There is still existing inventory from currently launched projects at Slim Barracks Rise and Media Circle. Based on URA monthly developer sales data as of March 2025, Blossoms by the Park has 19 out of 275 units available, while The Hill @ One-North still has 80 out of 142 units available. A new project, Bloomsbury Residences, also launched earlier in April 2025, and moved 25.1 per cent of the total 358 units during its launch.
More new homes are also in the pipeline to be launched in One-North. Media Circle (Parcel A), which was awarded in March 2025, will add another 325 new homes in the vicinity. Another Media Circle site that was initially designated for long stay serviced apartments (SA2) is also available for application after it was not awarded earlier. However, the site may be triggered for sale, or the government may also reintroduce it in future GLS programmes with or without the SA2 requirements, potentially adding even more homes here. With a slew of new homes slated to be launched in the future in this quieter part of One-North, amidst competition from other existing launched projects, quite a significant number of new homes will eventually be added to this area.
There are also potentially exciting sites that will be launched for tender in the coming months, where housing supply has been quite limited for some time. As a result, there may be more interest directed towards these land parcels instead.