Second Chuan Grove GLS site launched for tender
OrangeTee’s Quek foresees approximately six prospective buyers for the site, with a top bid of $1,100 to $1,200 psf. “Considered that there is a big catchment of prospective HDB upgraders from the nearby areas of Serangoon, Bishan, and Ang Mo Kio, property developers may be enticed to bid for land here,” he describes. Quek adds that the landed residential territories in Serangoon Gardens and Lorong Chuan could also give a pool of landed homeowners in the vicinity wanting to right-size.
As the Chuan Grove plots lie right next to each other, they share similar locational features, observes Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove area is a five-minute walking to Lorong Chuan MRT Stop on the Circle Line, whilst likewise being next to the NTP+ mall, which provides dining and retail amenities.
This is the 2nd GLS location at Chuan Grove as being launched for tender. Last December, an adjacent plot following the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, which can likely yield 555 property units, will finalize on July 8.
He believes the newly-launched Chuan Grove site can draw in up to 3 prospective buyers, with a top proposal varying from $900 to $1,000 psf per plot ratio (ppr). “Despite the uncertainties from worldwide excises, this site has relatively lesser threat, considering the low level of unsold units in the area along with islandwide,” he says.
URA has launched the tender for a housing Government Land Sale (GLS) location along Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold area measures 156,231 sq ft and can produce about 505 units. The area was started available for sale as section of the 1H2025 GLS Programme. The tender will shut on Sept 4.
On The Other Hand, Marcus Chu, CEO of ERA Singapore, anticipates the result of the tender for the Chuan Grove site started last December to factor right into offers for the second plot. “If the first Chuan Grove site sees high demand and offers, we might see demand spillover into this site,” he claims. As it is, he anticipates between three to 5 bids for the most up to date site, with a top quote of $1,250 to $1,350 psf ppr.
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future projects on the Chuan Grove places can take advantage of the bottled-up interest that is evident for new homes in the location. Last November, the release of the Kingsford Team’s Chuan Park, located simply down the road from the Chuan Grove sites, garnered a robust reaction with 76% of its 916 units snapped up throughout the release weekend. The units were reselled at a standard rate of around $2,579 psf.
Schools inside a 1km span of the location include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International Academy is likewise close by, that may offer a pool of prospective tenants, claims Yip.
Caveats lodged with URA as of May 13 show that 753 units (82%) at Chuan Park have actually been sold, keeping simply 163 units left. The limited brand-new real estate units may translate to higher need for future private residential locations, adds Quek.
Huttons’ Yip explains that the Chuan Grove sites may likewise leverage the restricted stock of available real estate in the wider Outside Central Region (OCR). “Since 1Q2025, the OCR has the most affordable variety of unsold units of 4,361 in the marketplace,” he states. In contrast, yearly sales in the OCR have averaged about 3,000 units in the last 5 years. This means the present unsold supply could be consumed by the industry in just over a year, Yip estimates.
