Second Chuan Grove GLS site launched for tender
OrangeTee’s Quek foresees as much as six prospective buyers for the site, with a top proposal of $1,100 to $1,200 psf. “Considered that there is a big catchment of possible HDB upgraders from the nearby areas of Serangoon, Bishan, and Ang Mo Kio, property developers may be lured to bid for land here,” he reveals. Quek adds that the landed residential territories in Serangoon Gardens and Lorong Chuan might also give a pool of landed homeowners around wanting to right-size.
Meanwhile, Marcus Chu, Chief Executive Officer of ERA Singapore, anticipates the result of the tender for the Chuan Grove site launched last December to factor into offers for the second plot. “If the initial Chuan Grove site sees high interest and offers, we might see demand spillover right into this site,” he says. As it is, he predicts in between three to 5 bids for the latest site, with a top proposal of $1,250 to $1,350 psf ppr.
Justin Quek, CEO of OrangeTee & Tie, considers that the future developments on the Chuan Grove sites might take advantage of the bottled-up interest that is apparent for brand-new homes in the area. Last November, the release of the Kingsford Group’s Chuan Park, situated just down the road from the Chuan Grove sites, achieved a sturdy feedback with 76% of its 916 units snapped up during the release weekend. The units were sold at a common rate of close to $2,579 psf.
Huttons’ Yip points out that the Chuan Grove spots might also leverage the minimal source of in the market housing in the larger Outside Central Region (OCR). “As of 1Q2025, the OCR has the most affordable variety of unsold units of 4,361 in the market,” he says. In comparison, yearly sales in the OCR have actually averaged about 3,000 units in the last 5 years. This indicates the present unsold supply can be taken in by the market in just over a year, Yip estimates.
This is the second GLS location at Chuan Grove as being started for tender. Last December, a nearby plot within the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, which can potentially generate 555 property units, will close on July 8.
As the Chuan Grove plots lie right alongside each other, they share similar locational qualities, notices Mark Yip, CEO of Huttons Asia. The Chuan Grove area is a five-minute walk to Lorong Chuan MRT Station on the Circle Line, whilst likewise being beside the NTP+ shopping center, which offers dining and retail amenities.
Caveats lodged with URA as of May 13 show that 753 units (82%) at Chuan Park have actually been sold, leaving simply 163 units left. The limited new real estate units might translate to higher need for future private residential locations, includes Quek.
He believes the newly-launched Chuan Grove site might attract approximately 3 prospective buyers, with a leading bid varying from $900 to $1,000 psf per plot ratio (ppr). “Despite the uncertainties from worldwide excises, this site has relatively lesser danger, taking into account the reduced level of unsold units in the location as well as islandwide,” he says.
URA has recently launched the tender for a housing Government Land Sale (GLS) location around Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold site measures 156,231 sq ft and can generate about 505 units. The area was started up for sale as portion of the 1H2025 GLS Programme. The tender will shut on Sept 4.
Academies within a 1km distance of the site include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International Academy is also nearby, that might provide a pool of interested tenants, says Yip.
