The Government Land Sales (GLS) site at Telok Blangah Road has garnered significant attention, drawing three bidders, with Kingsford Development submitting the highest bid of $1,326 per square foot per plot ratio (psf ppr). This marks the first private residential site launched in the Greater Southern Waterfront since Harbour View Towers in 1990, and the first in Telok Blangah since The Reef at King’s Dock in 2021.
The high participation level was anticipated due to the site’s substantial quantum, nearing $1b. Mark Yip, CEO of Huttons Asia, highlighted the strategic advantage for developers, noting, “Developers will gain a first-mover advantage in this coveted housing neighbourhood.” The demand for living in the Greater Southern Waterfront is expected to be robust, potentially leading to high take-up rates when the project launches in 2027.
The site is well-connected, with a bus stop at its doorstep and Telok Blangah MRT station less than a five-minute walk away. Major expressways such as the AYE, CTE, and MCE are also nearby, enhancing accessibility. Employment opportunities abound in the vicinity, including Mapletree Business City and the redevelopment of Harbourfront Centre. Additionally, amenities are plentiful, with VivoCity and Alexandra Retail Mall nearby, and Blangah Rise Primary School within 1km.
Looking ahead, the Rest of Central Region (RCR) may face an undersupply of new homes by 2027, with an estimated 2,340 units available, a 51% decrease from the 4,772 units projected for 2025. This potential shortage underscores the strategic importance of the Telok Blangah site for developers and future residents alike.
