_Knight Frank Commentary | GLS Tender closing for Tanjong Rhu Road

Tender Closing for GLS Site

While there was a decent five bids for the Tanjong Rhu Road site at today’s tender, the top three bids above S$1,400 psf per plot ratio (ppr) showed the determination of developers to secure the development of a new private residential condominium along Tanjong Rhu Road where the last GLS residential site was awarded in 1997, nearly 30 years ago.

At a land rate of S$1,455 psf ppr, the top bid for Tanjong Rhu Road exceeds the land rates of GLS sites awarded in the prime Districts 9, 10 and 11 in 2025. These were Holland Link (D10) that was awarded for S$1,432 psf ppr in August 2025, River Valley Green (Parcel B) (D9) that was awarded for S$1,420 psf ppr in February 2025, and Dunearn Road (D11) that was awarded for S$1,410 psf ppr in July 2025.

The top dollar built into the highest bid reflects the combination of locational attributes that makes this parcel attractive. This includes being in close proximity to the existing and planned sports and recreational infrastructure prescribed for the Kallang Alive precinct, which includes the National Stadium, Singapore Indoor Stadium, etc, the watersports activities at the Kallang River, Dunman High School, as well as being close to the CBD while not being in the CBD.   

At a land price of S$1,455 psf ppr, launch prices could start from S$2,900 psf with a possible average price of around S$3,000 psf to S$3,100 psf.