Singapore’s URA Releases Four Sites to Supply 1,535 Homes as Sales Show Strength

Singapore’s Urban Redevelopment Authority on Tuesday released four sites under the Government Land Sales programme with potential to yield 1,535 homes, testing builders’ appetite for new projects as residential sales gain steam.

The site at Chuan Grove in the city-state’s northeastern Serangoon area can yield 555 homes, the URA said in a release, while the plot at Holland Link in upscale Bukit Timah can yield 230 units. Both sites are on the GLS confirmed list for the July-December period, under which the government is launching tenders for land to accommodate 5,050 homes.

The Holland Plain site and River Valley Green Parcel C, meanwhile, are available for application by developers under the GLS reserve list and can yield a respective 280 and 470 homes. The government plans to calibrate supply to account for prevailing market conditions after new home sales hit an 11-month high of 738 units in October.

Of the confirmed list sites, local broker PropNex Realty expects Chuan Grove to garner more attention after the successful launch of the nearby Chuan Park redevelopment, which sold 696 of its 916 units at an average price of S$2,579 ($1,915) per square foot after hitting the market in November.

“This GLS site is a stone’s throw from Chuan Park, and shares many attributes that made the project a star this year,” said Wong Siew Ying, head of research and content at PropNex.

Location Advantage

Chuan Grove can yield up to 511,232 square feet (47,495 square metres) of gross floor area on a large plot about 200 metres (219 yards) from Lorong Chuan MRT station. The tender for the site closes on 8 July 2025.

PropNex anticipates buyer excitement for the project’s homes because of the site’s public transport connectivity and proximity to retail and dining offerings in nearby Serangoon Central and Bishan.

“Although the launch of Chuan Park has soaked up some housing demand for that locale, we think there is likely more where that came from,” Wong said. “Chuan Park was the first project launch in that area in more than a decade and there may be a deeper pent-up demand.”

PropNex estimates that Chuan Grove could attract five or six bids, with the top bid coming in between S$613 million and S$665 million, translating to S$1,200-S$1,300 per square foot of accommodation.

Holland Link, meanwhile, lies adjacent to the reserve list’s Holland Plain site in a tony enclave of District 10 near the Brizay Park, Garlick Avenue and Ewart Park good-class bungalow areas. The tender for the site closes on 29 July 2025.

Despite the posh surrounds, the plot could be disadvantaged by its more than 1 kilometre (0.6 mile) distance from the two closest MRT stations — King Albert Park and Sixth Avenue — and relatively limited range of nearby commercial offerings, according to PropNex. The agency thinks the site could draw three or four bids, topping out at S$322 million to S$347 million, or S$1,250-S$1,350 per square foot.

Watching and Waiting

Neither of the two reserve list sites is expected to be triggered for sale, said Huttons Asia CEO Mark Yip, with developers likely to gauge response to the confirmed list’s Holland Link site before making any moves on Holland Plain.

As for River Valley Green Parcel C, the area is already served by the awarded sites of River Valley Parcel A and Zion Road Parcel A and Parcel B, while a tender for River Valley Green Parcel B closes in February.

“If Parcel B is sold, there will be an estimated 2,090 units from River Valley Parcel A (and) Zion Road Parcel A and Parcel B,” Yip said. “There is little incentive for developers to trigger the site for sale.”