Second Chuan Grove GLS site launched for tender
Caveats lodged with URA as of May 13 show that 753 units (82%) at Chuan Park have been marketed, leaving simply 163 units left. The limited new real estate units might equate to greater demand for future private residential sites, adds Quek.
He believes the newly-launched Chuan Grove site might attract up to 3 prospective buyers, with a leading bid varying from $900 to $1,000 psf per plot ratio (ppr). “Despite the unpredictabilities from worldwide excises, this site has fairly reduced danger, considering the reduced level of unsold units in the location as well as islandwide,” he says.
Justin Quek, CEO of OrangeTee & Tie, notes that the future property developments on the Chuan Grove places might gain from the bottled-up interest that is apparent for new houses in the area. Last November, the launch of the Kingsford Team’s Chuan Park, situated simply down the road from the Chuan Grove sites, garnered a robust response with 76% of its 916 units snapped up throughout the kick off weekend. The units were sold off at a common price of about $2,579 psf.
On The Other Hand, Marcus Chu, CEO of ERA Singapore, expects the outcome of the tender for the Chuan Grove site started last December to factor right into bids for the second plot. “If the very first Chuan Grove site observes high interest and offers, we can see demand spillover into this site,” he claims. As it is, he anticipates between 3 to five bids for the latest site, with a top proposal of $1,250 to $1,350 psf ppr.
As the Chuan Grove plots stand right alongside each other, they share similar locational attributes, notices Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove site is a five-minute walking to Lorong Chuan MRT Terminal on the Circle Line, while also being alongside the NTP+ mall, that uses dining and retail amenities.
Huttons’ Yip points out that the Chuan Grove sites may also leverage the minimal source of in the market housing in the broader Outside Central Region (OCR). “As of 1Q2025, the OCR has the lowest number of unsold units of 4,361 in the market,” he says. In contrast, yearly sales in the OCR have actually balanced around 3,000 units in the last five years. This indicates the present unsold supply could be absorbed by the industry in just over a year, Yip estimates.
URA has already released the tender for a housing Government Land Sale (GLS) site around Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold site measures 156,231 sq ft and can yield around 505 units. The location was started available for sale as part of the 1H2025 GLS Programme. The tender will shut on Sept 4.
OrangeTee’s Quek foresees as much as 6 prospective buyers for the site, with a leading bid of $1,100 to $1,200 psf. “Considered that there is a big catchment of prospective HDB upgraders from the close-by areas of Serangoon, Bishan, and Ang Mo Kio, property developers may be enticed to bid for land here,” he describes. Quek adds that the landed residential enclaves in Serangoon Gardens and Lorong Chuan could also supply a pool of landed homeowners in the vicinity looking to right-size.
Schools inside a 1km distance of the site consist of CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International Academy is additionally close by, that may supply a pool of prospective renters, states Yip.
This is the second GLS site at Chuan Grove as being opened for tender. Last December, a nearby plot following the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, which can potentially produce 555 real estate units, will finalize on July 8.
