Second Chuan Grove GLS site launched for tender
Justin Quek, CEO of OrangeTee & Tie, mentions that the future property developments on the Chuan Grove places might take advantage of the pent-up need that is evident for brand-new houses in the location. Last November, the launch of the Kingsford Group’s Chuan Park, located simply down the road from the Chuan Grove sites, achieved a strong feedback with 76% of its 916 units snapped up throughout the release weekend. The units were sold off at an average price of close to $2,579 psf.
As the Chuan Grove plots lie right next to each other, they share similar locational qualities, notices Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove area is a five-minute walk to Lorong Chuan MRT Stop on the Circle Line, whilst additionally being alongside the NTP+ mall, that supplies dining and retail amenities.
This is the 2nd GLS location at Chuan Grove as being opened for tender. Last December, an adjacent plot under the 2H2024 GLS Programme went up for sale. The tender for the 511,232 sq ft site, which can potentially yield 555 real estate units, will close on July 8.
He believes the newly-launched Chuan Grove place could attract up to three bidders, with a top quote varying from $900 to $1,000 psf per plot ratio (ppr). “Despite the unpredictabilities from global tolls, this site has reasonably lesser threat, considering the reduced level of unsold units in the area as well as islandwide,” he says.
On The Other Hand, Marcus Chu, CEO of ERA Singapore, anticipates the outcome of the tender for the Chuan Grove site launched last December to factor into proposals for the 2nd plot. “If the first Chuan Grove site observes high interest and bids, we might see demand spillover into this site,” he claims. As it is, he forecasts between 3 to 5 bids for the current site, with a leading bid of $1,250 to $1,350 psf ppr.
Schools within 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 might provide a pool of potential occupants, states Yip.
Caveats lodged with URA as of May 13 show that 753 units (82%) at Chuan Park have been offered, leaving just 163 units left. The minimal brand-new housing units might translate to higher demand for future private residential sites, adds Quek.
OrangeTee’s Quek expects up to six prospective buyers for the site, with a top proposal of $1,100 to $1,200 psf. “Given 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 enticed to bid for land here,” he describes. Quek adds that the landed residential territories in Serangoon Gardens and Lorong Chuan can also offer a pool of landed homeowners in the vicinity wanting to right-size.
URA has recently released the tender for a housing Government Land Sale (GLS) site near 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 started available for sale as part of the 1H2025 GLS Programme. The tender is going to close up on Sept 4.
Huttons’ Yip explains that the Chuan Grove locations might additionally leverage the limited stock of in the market real estate in the larger 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, yearly sales in the OCR have averaged around 3,000 units in the last five years. This means the present unsold supply can be absorbed by the industry in just over a year, Yip assessments.
