Government Land Sale (GLS) Sites Analysis – Chuan Grove

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 per square foot per plot ratio (psf ppr).

Table 1: Chuan Grove GLS Closing

Source: URA, ERA Research and Market Intelligence

This is the first site to be closed in Chuan Grove. A second site was launched in December 2024 and will close on 4 September 2025. Prior to this, the last GLS site awarded in the area was in October 2009 — now known as The Scala.

More recently, the former Chuan Park was sold via a collective sale for $890 million in 2022 and re-launched as a new project with the same name in November 2024.

1. Site Details 

Table 1: Details of Chuan Grove GLS Sites

Source: URA

Map of Chuan Grove

Source: OneMap, ERA Research and Market Intelligence

2. Locational Attributes

Neighbourhood Amenities

Amenities around Chuan Grove include malls such as NEX, Junction 8, Upper Serangoon Shopping Centre and some food options at New Tech Park.

Families with school-going children may value the site’s convenient location near several schools within 1km, such as St. Gabriel’s Primary School and Kuo Chuan Presbyterian Primary School, as well as two international schools — the Australian International School and Stamford American International School.

Connectivity

The Chuan Grove site is within a 10-minute walk to Lorong Chuan MRT station on the Circle Line, connecting residents to the North-South Line at Bishan and North-East line one station away. Additional stations between HarbourFront and Marina Bay will also be added to the Circle Line by 1H 2026 to complete the MRT line loop.

The site is also located one street away from major roads such as the Central Expressway (CTE), and residents can enjoy a 10-minute commute to the Central area of Singapore.

3. Price and Market Trends

Popular Housing Estate Which Has Seen Strong Pent-up Demand Due to a Lack of Supply

Chuan Park saw strong pent-up demand, considering that it was the first launch in Lorong Chuan in 14 years. It sold 76% at an average of $2,586 psf during its launch weekend. As of 20 May 2025, 83.2% of units have been sold. Chuan Park proved to be a popular choice among buyers due to its close proximity to Lorong Chuan MRT Station. Located near mature and established estates of Serangoon, Bishan and Toa Payoh, buyers looking for a new home in the area turned towards Chuan Park. It is also the only new launch in District 19 since 2019.

Table 3: Condominiums in Lorong Chuan

Source: URA as of 5 May 2025, ERA Research and Market Intelligence

Table 4: Launches in District 19

Source: URA as of 2 May 2025, ERAPro, ERA Research & Market Intelligence
*Exclude developments with less than 100 units’ Apart from The Gazania, all developments have a 99-year leasehold tenure

Two New GLS Sites to Inject Fresh Housing Supply into Lorong Chuan
Since Chuan Park’s launch, URA has released two new GLS sites at Chuan Grove. The adjacent site was launched in December 2024, and its tender will close on 8 July 2025. In total, these two developments will yield an estimated 1,060 units.

While the launch of both sites will be staggered, it would mean more options from buyers. Developers will have to market the projects with compelling and unique attributes. This could involve incorporating higher-quality finishes, more diverse unit sizes and layouts, as well as innovative designs. Likewise, sensitive pricing could play a role in drawing buyers.

Demand for both future Lorong Chuan developments is also expected to remain strong. This belief is supported by the wave of projects debuting in Lentor, where proximity to an MRT station within an established estate has helped sustain steady buyer demand across successive launches, instead of resulting in over-supply.

Price performance of condominiums near Chuan Grove
Being in a popular estate, condominiums in Lorong Chuan have all seen healthy price growth since 2020. The resale prices of the three latest developments there saw their median price psf transacted rise between 23.9% and 43.8% in five years.

Chart 1: Price Performance of Condominiums Near Chuan Grove

Source: URA as of 5 May 2025, ERA Research and Market Intelligence

4. Potential Demand/Buyer Profile

Demand From Nearby Residential Enclaves

Surrounding the Chuan Grove parcels are landed estates such as at Chiltern, Serangoon Gardens, Serangoon Central and Bartley. Owners looking to right-size to unlock monies for retirement or other purposes may decide to right-size into a condominium unit nearby. Based on the median price of landed homes located in District 19 in 1Q 2025, homeowners can easily right-size into a new District 19 condominium. Similarly, their children may also look for their own home in an area where they are familiar with, or to live near their family.

The condominiums around Chuan Grove are all also at least 10 years old. Their shorter remaining lease and higher cost of maintenance may cause the property price to depreciate faster. Hence, some owner may choose to upgrade to a new condominium to preserve their value. While newer homes are typically smaller, families where their children have moved out may also require less space.

Map of Landed Estates Near Chuan Grove

Source: URA, ERA Research and Market Intelligence

Table 5: 1Q 2025 Median Prices for Landed Resale and Non-Landed New Private Homes in District 19

Source: URA as of 2 May 2025, ERA Research and Market Intelligence

Moreover, HDB upgraders from the nearby Serangoon, Bishan and Toa Payoh could see this future development as an opportunity to upgrade. The resale values of these flats are high as they are centrally located and have nearby amenities.

Table 6: Average HDB Resale Prices at Surrounding HDB Towns in 1Q 2025

Source: HDB, Singstat, ERA Research and Market Intelligence

Conclusion

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.

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