Second Chuan Grove GLS site launched for tender
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have actually been marketed, leaving just 163 units left. The limited new real estate units may translate to higher need for future private residential spots, adds Quek.
Huttons’ Yip mentions that the Chuan Grove spots may likewise leverage the restricted supply of in the market housing in the wider Outside Central Region (OCR). “As of 1Q2025, the OCR has the lowest number of unsold units of 4,361 in the marketplace,” he says. In comparison, yearly sales in the OCR have averaged around 3,000 units in the last five years. This indicates the present unsold supply can be absorbed by the market in just around a year, Yip estimates.
Institutes within a 1km span of the location include CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International School is additionally not far away, that may offer a pool of prospective occupants, states Yip.
Justin Quek, Chief Executive Officer of OrangeTee & Tie, notes that the future developments on the Chuan Grove places can gain from the bottled-up interest that is apparent for brand-new houses in the area. Last November, the launch of the Kingsford Team’s Chuan Park, located just down the road from the Chuan Grove spots, gathered a robust response with 76% of its 916 units snapped up throughout the release weekend. The units were sold at a common cost of about $2,579 psf.
He believes the newly-launched Chuan Grove site can attract as much as 3 bidders, with a leading bid ranging from $900 to $1,000 psf per plot ratio (ppr). “Despite the uncertainties from global tolls, this site has fairly reduced threat, considering the low level of unsold units in the location along with islandwide,” he says.
As the Chuan Grove plots lie right next to each other, they share similar locational attributes, observes Mark Yip, CEO of Huttons Asia. The Chuan Grove area is a five-minute walk to Lorong Chuan MRT Station on the Circle Line, while additionally being alongside the NTP+ mall, which supplies dining and retail amenities.
At The Same Time, Marcus Chu, CEO of ERA Singapore, anticipates the result of the tender for the Chuan Grove site started last December to factor into bids for the 2nd plot. “If the initial Chuan Grove site observes high demand and bids, we could see demand spillover into this site,” he states. As it is, he predicts between 3 to 5 bids for the latest site, with a top bid of $1,250 to $1,350 psf ppr.
This is the 2nd GLS location at Chuan Grove to be started for tender. Last December, a surrounding plot under the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, that can possibly produce 555 housing units, will finalize on July 8.
OrangeTee’s Quek anticipates up to six bidders for the site, with a leading bid of $1,100 to $1,200 psf. “Given that there is a large catchment of potential HDB upgraders from the neighboring locations of Serangoon, Bishan, and Ang Mo Kio, developers might be tempted to bid for land here,” he describes. Quek adds that the landed residential territories in Serangoon Gardens and Lorong Chuan might also give a pool of landed homeowners around seeking to right-size.
URA has released the tender for a housing 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 produce about 505 units. The site was launched for sale as section of the 1H2025 GLS Programme. The tender is going to close up on Sept 4.
