The Urban Redevelopment Authority has concluded the tender for a site at Chuan Grove, launched under the 1H 2025 Government Land Sales Confirmed List. The site, which can accommodate approximately 505 residential units, received five bids. The top bid, submitted by Sing Holdings Residential Pte. Ltd. and Sunway Developments Pte. Ltd., was S$623.91m, equating to about S$1,331 per square foot per plot ratio (psf ppr). This bid was 2.9% higher than the next highest offer from COLI (Singapore) Pte. Ltd., which stood at S$606.06m or roughly S$1,293 psf ppr.
The bid price for this plot was 3.3% lower than a previous Chuan Grove parcel awarded in July 2025, which fetched S$703.6m or around S$1,376 psf ppr. That earlier tender attracted seven bids. The current site presents more complex building requirements, including the development of a new Neighbourhood Park and an Early Childhood Development Centre, potentially increasing construction costs.
Despite these challenges, interest in the tender remained robust. Justin Quek, CEO of OrangeTee, noted that the Lorong Chuan area has seen few new project launches, with the last being Chuan Park in November 2024, which sold 76% of its 916 units during its launch weekend. This suggests a strong demand for homes in the area.
The site’s proximity to Lorong Chuan MRT, a mall, and several primary schools enhances its appeal, particularly for families and potential HDB upgraders from nearby areas such as Serangoon, Bishan, and Ang Mo Kio. Additionally, rental opportunities may arise from the nearby Australian International School. These factors likely contributed to the keen developer interest in the site.
“`
