Second Chuan Grove GLS site launched for tender
OrangeTee’s Quek expects approximately six prospective buyers for the site, with a top bid of $1,100 to $1,200 psf. “Considered that there is a big catchment of prospective HDB upgraders from the close-by locations of Serangoon, Bishan, and Ang Mo Kio, property developers might be lured to bid for land here,” he explains. Quek adds that the landed residential territories in Serangoon Gardens and Lorong Chuan might also give a pool of landed homeowners in the vicinity seeking to right-size.
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have been offered, leaving just 163 units left. The limited brand-new housing units might translate to greater demand for future private residential sites, includes Quek.
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future property developments on the Chuan Grove places can benefit from the pent-up need that is apparent for new homes in the area. Last November, the release of the Kingsford Group’s Chuan Park, located simply down the road from the Chuan Grove sites, garnered a strong feedback with 76% of its 916 units snapped up during the release weekend. The units were sold at a standard rate of around $2,579 psf.
He thinks the newly-launched Chuan Grove site can bring in approximately three bidders, with a leading proposal extending from $900 to $1,000 psf per plot ratio (ppr). “Despite the uncertainties from international tolls, this site has reasonably reduced risk, taking into account the reduced level of unsold units in the area in addition to islandwide,” he says.
At The Same Time, Marcus Chu, Chief Executive Officer of ERA Singapore, expects the result of the tender for the Chuan Grove site launched last December to factor right into offers for the second plot. “If the first Chuan Grove site sees high demand and proposals, we can see demand spillover right into this site,” he says. As it is, he anticipates in between three to five bids for the current site, with a top quote of $1,250 to $1,350 psf ppr.
Huttons’ Yip explains that the Chuan Grove locations might additionally leverage the restricted supply of accessible real estate in the larger Outside Central Region (OCR). “As of 1Q2025, the OCR has the most affordable number of unsold units of 4,361 on the market,” he says. In comparison, annual sales in the OCR have balanced about 3,000 units in the last 5 years. This indicates the present unsold supply could be consumed by the market in just over a year, Yip assessments.
Academies within a 1km distance of the location include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International School is additionally close by, that might provide a pool of prospective renters, claims Yip.
URA has recently launched the tender for a non commercial Government Land Sale (GLS) location along Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold place measures 156,231 sq ft and can yield around 505 units. The area was released up for sale as section of the 1H2025 GLS Programme. The tender is going to close up on Sept 4.
As the Chuan Grove plots are located right next to each other, they share similar locational features, notices Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove site is a five-minute stroll to Lorong Chuan MRT Station on the Circle Line, whilst additionally being alongside the NTP+ mall, that uses dining and retail amenities.
This is the second GLS site at Chuan Grove to be opened for tender. Last December, a nearby plot within the 2H2024 GLS Programme went up for sale. The tender for the 511,232 sq ft site, which can potentially produce 555 real estate units, will close on July 8.
