Commentary on the Closing of GLS Site at Telok Blangah Road

SINGAPORE, 4 November 2025 - “Given developers’ strong appetite for land in recent tenders, the subdued showing of three bidders is a clear outlier,” said Marcus Chu, Chief Executive Officer (CEO), ERA Singapore. “This also contrasts sharply with the fierce competition for past sites in emerging precincts. Bayshore, for example, saw eight bidders at its March tender close, while Dunearn Road drew nine during its June closing.” 

“Developers may have been cautious because of the greater developmental risk associated with Telok Blangah’s higher quantum. At $918.3 million, its top bid significantly exceeds Bayshore’s $658.9 million and Dunearn Road’s $491.5 million.”

Buyer Demand

“The Telok Blangah GLS site is the first private residential plot in the upcoming Greater Southern Waterfront estate. This grants a first-mover’s advantage to developers and future buyers. Additionally, developing a new housing estate within a mature estate like Bukit Merah is set to revitalise the area. New and modern amenities could attract both first-time homebuyers and HDB upgraders who want to live in a familiar estate or stay close to their families.”

“Despite being in an untested market, buyers have shown strong interest in sites that are newly released, investing in the transformation of the estate. In particular, sites that are or will be near amenities and transport links are expected to attract high demand.”

“Although this is the first site sold within a new housing estate, strong demand for homes in the Greater Southern Waterfront has already been apparent. The first BTO project (Berlayer Creek), launched in October 2025 as part of Bukit Merah Town, received high application rates, highlighting the area’s appeal. The application rates for 4-room flats were 3.1 and 23.8 for first-time and second-time applicants respectively.”

“Future residents will be within a 5-minute walk to Telok Blangah MRT Station, as well as one stop from Harbourfront Interchange and VivoCity, the largest mall in Singapore. Besides being centrally located with strong connectivity and plenty of amenities in the future, residents will live close to the waterfront and be in one of the most visionary estates that will undergo extensive transformation.”

Outlook

“There is increasing optimism within Singapore’s residential market, supported by the strong sales performance seen across the 2025 launches so far. We anticipate some developers will look to replenish their land bank in anticipation of sustained demand.”

“Currently, excluding Executive Condominiums, three GLS sites are still open for tender, with another six sites on the 2H 2025 Confirmed List.”

“Developers who are unsuccessful in their current bids may shift their focus to upcoming RCR plots scheduled for tender in the near future, including Dover Road, Tanjong Rhu Road, and Kallang Avenue.”

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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