The Government has unveiled three residential sites—Telok Blangah Road, Dorset Road, and Upper Thomson Road—for tender as part of its 1H2025 Government Land Sales (GLS) programme. This initiative aims to boost the supply of residential properties in Singapore, responding to ongoing demand in the housing market.
Each site presents unique characteristics and potential yields, appealing to various developers and investors looking to enter or expand within the residential sector.
The Telok Blangah Road site occupies an area of approximately 147,346 square feet, with the potential to yield around 745 residential units. This prime location is anticipated to attract considerable interest, especially given its proximity to amenities and transport links.
The top bid estimates for this site are projected to be between $1,250 to $1,350 per square foot per plot ratio (psf ppr), reflecting the competitive landscape in Singapore’s real estate market. The tender for this site will close on November 4, 2023, allowing developers ample time to prepare their proposals.
Meanwhile, the Dorset Road site spans 111,934 square feet and is expected to yield about 425 residential units. This site is also strategically located, making it attractive for potential buyers looking for convenience and accessibility.
Developers have shown interest, with expected top bids ranging from $1,100 to $1,200 psf ppr. The closing date for tenders for the Dorset Road site is set for October 9, 2023, indicating a shorter window for submissions compared to the Telok Blangah Road site.
Further, the Upper Thomson Road site, designated as Parcel A, covers a larger area of 262,875 square feet and is projected to yield approximately 595 units. This site is likely to appeal to those seeking to capitalize on the area’s growing popularity and its array of lifestyle options, including dining and recreational facilities.
The anticipated top bids for the Upper Thomson Road site range from $900 to $1,000 psf ppr. The tender for this site will close on October 23, 2023, providing a specific timeline for interested parties.
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News Source: Edgeprop
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