GLS Tender closing of Second Chuan Grove Parcel

Tender Closing for GLS Site

Second GLS Chuan Grove Parcel
The second Chuan Grove Government Land Sales (GLS) site attracted five bids, less than the seven bids at the tender of the first Chuan Grove site which was awarded in July 2025. The number of interested parties came in slightly below expectations as some of the participants in the first tender did not continue to pursue this location in this second tender. This was despite the similar strong locational attributes, within walking distance to an MRT station and amenities, and the close proximity to good schools or international schools. To be fair, this second site can be considered slightly less attractive when compared to the first that had frontage and access to Lorong Chuan. However, barring the unexpected, the top bid at today’s tender should be awarded this second Chuan Grove plot, and the joint venture of Sing Holdings Residential and Sunway Developments having placed the highest bids at both Chuan Grove GLS tenders, now possibly have the opportunity to combine both sites into a substantially sized project of potentially more than 1,000 units equipped with a wide variety of communal facilities. This is subject to the necessary planning approvals and title/lot amalgamation approvals from the relevant authorities.

The possibility of an upsized Chuan Grove project could attract potential buyers, such as retirees who wish to right-size from the landed areas in Serangoon as well as at Ang Mo Kio Avenue 1 (Tai Hwan and Mei Hwan areas). The plot’s proximity to Lorong Chuan MRT Station as well as Serangoon and Bishan MRT stations just a stop away, provides access to the Circle, North-East and North-South lines and boosts its inherent locational strengths. NTP+, New Tech Park's mall with various retail options is located beside the site, as well as Bishan Junction 8 and NEX, both a station away, also makes the site a lot more attractive. Together with several local schools of various levels nearby, homeowners can also expect strong leasing interest from families of foreign professionals given that the site is situated next to the Australian International School.

Although the top bid of S$623.9 million or S$1,331 psf per plot ratio (ppr) is a moderate 3.3% lower than the winning land rate submitted in the first Chuan Grove parcel, this was broadly in line with the land price expectations. Selling prices at launch are projected to start from S$2,800 psf, potentially averaging between S$2,900 psf and S$3,000 psf depending on the project's specifications and finish, as well as prevailing demand conditions at the time of launch. With the earlier launch of Chuan Park in November 2024 having sold 84% or 771 out of a project total of 916 units by July 2025 based on URA developer sales data, proving the current popularity of the location, there should be potential homebuyers who will be drawn to this new project and support interest at launch

Source: URA Space