Second Chuan Grove GLS site launched for tender
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future developments on the Chuan Grove sites could gain from the bottled-up demand that is apparent for brand-new homes in the area. Last November, the release of the Kingsford Group’s Chuan Park, located just down the road from the Chuan Grove sites, gathered a strong feedback with 76% of its 916 units snapped up during the kick off weekend. The units were sold at an average rate of about $2,579 psf.
This is the 2nd 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 likely yield 555 property units, will close on July 8.
OrangeTee’s Quek expects as much as six prospective buyers for the site, with a leading proposal of $1,100 to $1,200 psf. “Considered that there is a big catchment of possible HDB upgraders from the neighboring locations of Serangoon, Bishan, and Ang Mo Kio, property developers might be lured to bid for land here,” he reveals. Quek includes that the landed residential enclaves in Serangoon Gardens and Lorong Chuan could also offer a pool of landed homeowners around wanting to right-size.
Huttons’ Yip mentions that the Chuan Grove sites might additionally leverage the restricted stock 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 marketplace,” he states. In comparison, annual sales in the OCR have balanced about 3,000 units in the last five years. This means the present unsold supply could be absorbed by the market in just over a year, Yip estimates.
Institutes inside a 1km distance of the site include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International Academy is also close by, which might supply a pool of potential renters, says Yip.
He thinks the newly-launched Chuan Grove place can attract up to 3 prospective buyers, with a leading bid varying from $900 to $1,000 psf per plot ratio (ppr). “Regardless of the uncertainties from worldwide charges, this site has relatively lower threat, considering the low level of unsold units in the location in addition to islandwide,” he says.
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 into offers for the second plot. “If the initial Chuan Grove site observes high demand and offers, we could see demand spillover into this site,” he says. As it is, he forecasts between three to 5 bids for the most up to date site, with a top bid of $1,250 to $1,350 psf ppr.
As the Chuan Grove plots stand right beside each other, they share similar locational features, sees Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove site is a five-minute walking to Lorong Chuan MRT Station on the Circle Line, while also being beside the NTP+ shopping center, which supplies dining and retail amenities.
URA has released 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 generate around 505 units. The location was launched for sale as portion of the 1H2025 GLS Programme. The tender will close on Sept 4.
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have been sold, leaving just 163 units left. The limited new real estate units might equate to greater need for future private residential spots, includes Quek.
