Commentary on New Upper Changi Road GLS opening

SINGAPORE, 15 May 2026 - The tender for the Government Land Sale (GLS) site at New Upper Changi Road was launched on 15 May 2026. The site, in the Bedok planning area, covers an estimated 30,769 sqm and has a potential yield of 1,010 private residential units. The tender will close at 12 noon on 1 September 2026. 

“We expect strong competition for this site, although bids are likely to be disciplined. The scale of the project will likely attract consortium bids, as developers balance ambition with risk management,” said Marcus Chu, Chief Executive Officer, ERA Singapore. 

As a mega-development comprising more than 1,000 units, it allows developers to focus their resources and marketing efforts on creating a landmark development in the neighbourhood.

The most recent GLS site in Bedok, located at Bedok Rise, was awarded in December 2025 for $1,330 psf ppr. Its popularity was highlighted by the fact that it drew 10 bidders, underscoring resilient demand for homes in Bedok. 

Moreover, the last site sold in the vicinity of Bedok Central was the integrated development above Bedok MRT Station (now Bedok Residences). With no new launches in the past 15 years, we could see strong pent-up demand among buyers.”

Location attributes

“With Bedok MRT Station and Bedok Mall within a 5-minute walk, residents will enjoy the convenience and connectivity of being near these amenities. In addition, there are two primary schools within a 1km radius of the site. These are essential factors that homebuyers look for today.”

Buyer Demand 

“Buyers might be drawn to the future condominium’s proximity to Singapore’s Eastern Gateway, comprising Tampines Regional Centre, Changi Business Park and Changi Airport. For investors, this proximity to these employment nodes will allow them to tap into a wider pool of tenants.

Notably, the site could capture demand from HDB upgraders expected to enter the market in 2027. In 2025, among flats 15 years old or younger, the median resale prices for 5-room and 4-room flats in Bedok stood at $1.03 million and $860,000, respectively, providing substantial capital for upgrading. Recently, 4-room flats at Bedok South Horizon, which have reached their minimum occupation period, were sold for above $1.2 million.

The location may also attract right-sizers living in landed homes in nearby enclaves, such as the Kew and Jalan Limau estates. Bedok also saw nearly 2,300 HDB flats fulfil their Minimum Occupation Period (MOP) between 2022 and 2026, which may drive upgrade demand for this project.

Bedok is a popular mature HDB estate with comprehensive amenities and good connectivity within the town. Apart from HDB upgraders, first-time homebuyers seeking to live in a familiar estate or near family may consider this future project.

The future mega development is expected to appeal to families with children, who would want more facilities and a more vibrant, lively environment. This would allow them to enjoy a wider range of facilities and communal areas.”

Market Outlook

“Despite the ongoing conflict between the US and Iran and its potential implications for the global economy, Singapore’s real estate market has remained relatively resilient. Recently, several newly launched projects have achieved healthy take-up rates, pointing to sustained demand for developments with strong locational attributes. This will give developers continued confidence to bid more aggressively.

The most recent GLS sites have seen keen competition and benchmark land rates, reflecting greater urgency and a stronger willingness among developers to push land pricing boundaries. For example, the Dunearn Road GLS site attracted the top of $1,625 psf ppr, 15.2% higher than the $1,410 psf ppr paid for an adjacent site last year.”

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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