The Urban Redevelopment Authority (URA) has initiated the tender for two government land sales (GLS) plots located at Berlayar Drive and New Upper Changi Road. PropNex’s Head of Research and Content, Wong Siew Ying, expects these sites to attract significant interest from developers, driven by a strong demand for new private homes and the need to replenish land inventory.
The Berlayar Drive site, situated in the Greater Southern Waterfront precinct, is anticipated to receive four to six bids. This site offers a manageable development size with the potential for 415 new units. The area benefits from improved buyer sentiment and proximity to the Telok Blangah MRT station, VivoCity mall, and future developments in HarbourFront. Wong noted, “The Berlayar Drive GLS site may potentially attract four to six bids, with the top bid price ranging from $1,350 to $1,450 psf ppr.”
Meanwhile, the New Upper Changi Road site could provide up to 1,010 new homes and is conveniently located near the Bedok integrated transport hub. Despite its large size, which may require developers to form consortiums, the site is expected to be popular due to its accessibility and the strong demand for mass-market homes. Wong projected that this site might garner two to four bids, with top bids ranging from $1,250 to $1,350 psf ppr.
These developments are poised to meet the needs of HDB upgraders and other prospective homebuyers, reflecting the ongoing demand for well-located residential projects in Singapore.
