The Urban Redevelopment Authority has concluded the tender for a prime land parcel at Bayshore Drive, with Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. emerging as the highest bidders. Their bid of S$2.128b, equivalent to S$1,323 per square foot per plot ratio, surpassed the next highest offer by 5.8%. The site is poised to yield approximately 1,280 residential units, 22,500 square metres of commercial space, and will feature a bus interchange connected to the Bedok South MRT station.
The tender attracted three bids, mirroring the interest seen in the recent Hougang Central mixed-use development. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted the strong participation was anticipated due to the site’s strategic location and integration with public transport. “Future residents will benefit from the excellent location, connectivity, and amenities at their doorstep,” he stated.
The Bayshore precinct is set to house around 3,000 private homes, with this being the second private residential site launched. The first, awarded to Sing-Haiyi Garnet Pte. Ltd. in March 2025, resulted in the Vela Bay project, which sold 72% of its units upon launch in April 2026. Units were priced at an average of S$2,886 per square foot, setting a new benchmark for the area.
With limited private residential land remaining in Bayshore, the successful bid underscores the high demand for integrated developments. Recent projects in the East, such as Parktown Residence and Pinery Residences, have seen brisk sales, suggesting a promising outlook for the upcoming Bayshore Drive development.
