Second Chuan Grove GLS site launched for tender
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future projects on the Chuan Grove sites can benefit from the constrained need that is apparent for new homes in the area. Last November, the release of the Kingsford Team’s Chuan Park, situated just down the road from the Chuan Grove spots, achieved a sturdy feedback with 76% of its 916 units snapped up throughout the release weekend. The units were sold at a standard cost of about $2,579 psf.
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have actually been offered, keeping simply 163 units left. The limited brand-new real estate units might equate to greater need for future private residential spots, adds Quek.
As the Chuan Grove plots lie right alongside each other, they share similar locational qualities, notices Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove area is a five-minute stroll to Lorong Chuan MRT Station on the Circle Line, while additionally being next to the NTP+ shopping center, which uses dining and retail amenities.
OrangeTee’s Quek foresees up to six bidders for the site, with a leading bid of $1,100 to $1,200 psf. “Considered that there is a large catchment of possible HDB upgraders from the nearby areas of Serangoon, Bishan, and Ang Mo Kio, developers might be enticed to bid for land here,” he describes. Quek includes that the landed residential territories in Serangoon Gardens and Lorong Chuan could also offer a pool of landed homeowners around seeking to right-size.
This is the second GLS site at Chuan Grove as being opened for tender. Last December, a nearby plot within the 2H2024 GLS Programme went up for sale. The tender for the 511,232 sq ft site, which can possibly produce 555 housing units, will close on July 8.
Meanwhile, Marcus Chu, Chief Executive Officer of ERA Singapore, expects the result of the tender for the Chuan Grove site started last December to factor right into offers for the second plot. “If the first Chuan Grove site sees high interest and proposals, we might see demand spillover right into this site,” he claims. As it is, he predicts in between three to five bids for the most up to date site, with a leading bid of $1,250 to $1,350 psf ppr.
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Institutes inside a 1km radius of the location consist of CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International School is likewise not far away, that might provide a pool of prospective tenants, states Yip.
URA has released the tender for a residential Government Land Sale (GLS) site 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 site was released available for sale as section of the 1H2025 GLS Programme. The tender is going to close up on Sept 4.
Huttons’ Yip explains that the Chuan Grove locations may also leverage the restricted stock of available real estate in the broader Outside Central Region (OCR). “As of 1Q2025, the OCR has the most affordable variety of unsold units of 4,361 in the market,” he claims. In contrast, yearly sales in the OCR have actually balanced about 3,000 units in the last five years. This means the present unsold supply can be consumed by the industry in just over a year, Yip estimates.
He believes the newly-launched Chuan Grove site can draw in as much as 3 bidders, with a leading proposal ranging from $900 to $1,000 psf per plot ratio (ppr). “Regardless of the unpredictabilities from worldwide tariffs, this site has relatively reduced risk, taking into account the reduced level of unsold units in the location in addition to islandwide,” he says.
