Chuan Grove GLS Site Closing on July 2025: Commentary by ERA

SINGAPORE, 8 July 2025 – The tender for the Government Land Sale (GLS) site at Chuan Grove closed on 8 July 2025. In total, the site drew interest from seven bidders, with the top bid of $703.6 million (or $1,376 psf ppr) being put in by a consortium comprising Sing Holdings Residential Pte Ltd and Sunway Developments Pte Ltd.

Among the seven bidders for the site, Sing Holdings and Sunway Developments put in the highest bid at $703.6 million. This translates to a land rate of $1,376 psf ppr.

“At $1,376 psf ppr, the top bid for the Chuan Grove site sets benchmark pricing for District 19. It is also almost on par with the $1,388 psf ppr secured for the Bayshore Road site, which had previously set benchmark pricing for the OCR. It also exceeds the $1,360 psf ppr bid for the Toa Payoh Lorong 1 site (now The Orie). This is despite Chuan Grove being in the OCR and Toa Payoh in the RCR.”

“The top bid of $1,376 psf ppr comes in at 7.3% above the second-highest offer, and it signals optimism about the site’s potential. With the site’s desirable location and excellent connectivity, the developer likely anticipated healthy demand, giving them the confidence to place a strong bid,” said Marcus Chu, CEO, ERA Singapore.

“The wide 37% price gap between the highest and lowest bidders underscores how developers remain deeply uncertain about where the market is headed in the face of ongoing global volatility.”

“While developers’ interest remains healthy, the seven bids received are slightly more cautious compared to the nine submitted for Dunearn Road. This likely reflects their awareness of another nearby Chuan Grove plot, announced in 1H 2025. It is expected to yield around 505 units and will close in September 2025.”

“Developers likely gravitated to the Chuan Grove site, both due to its desirable locational attributes and Chuan Park’s stellar launch performance. The site benefits from its proximity to Lorong Chuan MRT station. The site is close to Lorong Chuan MRT station, which is just one stop away from Serangoon’s extensive transport and retail offerings.”

“With Chuan Park already 84% sold, the future project at this site will give homebuyers another attractive option in the area.”

“We believe that the future project at Chuan Grove is well-positioned to draw upgrader demand. This is supported by Serangoon’s strategic location along the OCR–RCR fringe, adjacent to million-dollar HDB estates like Toa Payoh, Ang Mo Kio, and Bishan.”

For media enquiries, please contact:

Ning Peh, Senior Marketing Communications Manager, ERA Singapore

Email: ning@era.com.sg

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