Commentary on the closing of Chuan Grove GLS Site

SINGAPORE, 4 September 2025 – The tender for the Government Land Sale (GLS) site at Chuan Grove (1H 2025) closed on 4 September 2025. In total, the site drew interest from five bidders, with the top bid of $623.9 million (or $1,331 psf ppr) submitted by a consortium comprising of Sing Holdings Residential Pte Ltd and Sunway Developments Pte Ltd.

“The participation of Sing Holdings and Sunway Developments was likely driven by their goal to maintain benchmark pricing, having previously secured the adjacent Chuan Grove site. There is also a strong motivation to acquire both plots, considering the advantages in managing pricing strategy and possible economies of scale in construction. The winning bid amounts to 3.4% less than the $1,376 psf ppr paid in July 2025,” says Marcus Chu, CEO, ERA Singapore.

“The moderate turnout of five bidders was an exception compared to the strong interest shown at recently awarded GLS sites in the OCR, such as Bayshore Road and Lakeside Drive. Some developers may also have chosen to abstain from this tender, expecting that Sing Holdings and Sunway Developments would maintain their benchmark pricing.”

“There is currently significant optimism in Singapore’s residential market, with numerous opportunities for developers across all segments. At present, five GLS sites are open for tender, and another seven sites are on the 2H 2025 Confirmed List.”

“Between 2024 and 2027, Lorong Chuan could see nearly 1,900 new homes launched, helping to rejuvenate an area characterised by older condos.”

“The site is within a 10-minute walk of Lorong Chuan MRT Station, making it a desirable location. It is situated between two MRT interchanges – Bishan and Serangoon, which offer excellent convenience for residents. This allows easy access to malls such as Nex and Junction 8.”

“For families with school-going children, the site’s convenient location near several schools within 1 km, 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 – may be valued.”

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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