Frasers Property and Mitsubishi Estate, through a joint venture, have emerged as the top bidder for the Kallang Close site under Singapore’s Government Land Sales (GLS) programme. Their bid of S$610.75m, equating to S$1,415 per square foot per plot ratio, narrowly surpassed the second-highest offer by 0.7%. This site, located in the Kallang Planning Area, is the first GLS site launched in the Boon Keng, Kallang Bahru, and Kampong Bugis precincts in over a decade.
The 99-year leasehold site spans approximately 11,456.3 square metres and is poised to yield around 470 private homes, alongside a childcare centre. Its strategic location offers easy access to Kallang and Bendemeer MRT stations, enhancing connectivity to the Central Business District and beyond. The consortium plans to develop a waterfront residential project featuring a riverfront promenade to boost community engagement and vibrancy.
Soon Su Lin, CEO of Frasers Property Singapore, expressed enthusiasm about the project, stating, “We are pleased to be the top bidder for the Kallang Close site, which enjoys great connectivity to the city centre. This presents a rare opportunity to deliver a top-quality waterfront residential development with a first-mover advantage.”
The site is set to benefit from the Urban Redevelopment Authority’s Draft Master Plan 2025, which aims to transform the nearby Kampong Bugis and Kallang Alive precincts into vibrant lifestyle destinations. The development will also enjoy proximity to various amenities, including retail outlets, schools, and recreational facilities, making it an attractive proposition for future residents.
