URA launches tender for East Coast Road GLS site; opens applications for Serangoon North View plot
Limited recent supply and resilient Bedok demand may support developer interest and pent-up buyer demand, while macroeconomic uncertainty and rising construction costs could temper bids.
URA launched the 85-home East Coast Road GLS site for tender, with analysts forecasting top bids of $1,100 to $1,650 psf ppr.
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A residential Government Land Sale (GLS) site at East Coast Road has been launched for sale by tender under the 2H2026 GLS Programme. The 99-year leasehold site can yield about 85 homes, said URA in a Sept 29 release.
URA also announced that a Reserve List site at Serangoon North View is available for application. The 99-year leasehold plot can yield around 235 residential units.
Second-smallest GLS plot
The East Coast Road site is the second-smallest GLS plot ever offered in terms of dwelling units, according to Mark Yip, CEO of Huttons Asia. The smallest was a site at Chong Kuo Road awarded in February 2018, which later became the 84-unit The Essence.
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An open drain cuts through the East Coast Road site, separating it into two plots, observes Wong Siew Ying, head of research and content at PropNex. The first plot measures 26,706 sq ft, while the second spans 32,527 sq ft.
Based on the tender details, the successful tenderer could develop long-stay serviced apartments on the second plot. "There is also the option to develop the land parcel as one single development over both plots, or as two separate developments on each plot," she notes.
Wong adds that an average unit size of no less than100 sq m (1,076 sq ft) is stipulated for the plot. "The future project built on this site will likely offer larger, family-oriented homes and may appeal to right-sizers from landed housing in the area," she says.
Boutique development in established neighbourhood
Marcus Chu, CEO of ERA Singapore, believes the site will appeal to developers targeting smaller developments.
Earlier this month, the tender for a nearby GLS site at New Upper Changi Road was awarded to a consortium comprising CapitaLand Development, UOL Group and UOL subsidiary Singapore Land Group.
The consortium’s offer of $1.43 billion, $1,537 psf per plot ratio (psf ppr), topped three other bids for the site, which can accommodate about 1,010 homes.
Read also: Row of seven freehold Joo Chiat shophouses up for sale at $100 mil
In comparison, the significantly smaller East Coast Road site would have lower capital investment and execution risks, says Chu. “Well-located boutique sites enable developers to manage construction, pricing and sales risks more effectively while meeting owner-occupiers’ demand,” he continued.
Chu expects the East Coast Road site to attract wide developer interest, given its strong locational attributes. The plot is within walking distance of the Siglap MRT Station on the Thomson-East Coast Line, while also being near lifestyle and retail offerings at Siglap Centre and Siglap V.
In addition, it is close to several schools, including Opera Estate Primary School, Ngee Ann Primary School, CHIJ Katong Convent, St. Patrick’s School, Victoria School, and Victoria Junior College.
Pent-up demand
Housing demand in the Bedok Planning Area, where the East Coast Road site is located, remains resilient, notes Chu. In April, the 515-unit Vela Bay in Bayshore saw 72% of units taken up at an average price of $2,886 psf on launch day.
A number of GLS plots in the planning area have been sold in recent months. These include the New Upper Changi Road site, along with plots at Bayshore Drive and Bedok Rise awarded in July and December 2025, respectively.
Still, new supply of homes along East Coast Road has been “relatively limited”, according to Justin Quek, deputy group CEO of Realion (OrangeTee & ETC Group).
Read also: GLS sites in Marina South and Orchard released for sale; can yield 390 and 110 homes
The closest GLS site previously awarded was at Siglap Road, now occupied by the 841-unit Seaside Residences, which launched in 2017. “The last new launch in the area was 77 @ East Coast, a 41-unit project launched in March 2020,” Quek adds.
As a result, he believes the future project at East Coast Road could see pent-up demand.
Top bids from $1,100 to $1,650 psf ppr
ERA’s Chu expects the East Coast Road site to attract over five bidders, citing developers’ “ongoing interest in well-positioned and established residential estates”. He anticipates a maximum bid of around $1,400 psf ppr.
Huttons’ Yip predicts up to five bids, with the highest bid ranging between $1,100 and $1,300 psf ppr.
PropNex's Wong foresees "healthy but selective interest" from developers. She predicts three to five offers for the site, with a top bid ranging from $1,550 to $1,650 psf ppr.
Meanwhile, Quek of Realion anticipates bids could be tempered by global macroeconomic uncertainty and rising construction costs. “A smaller project may lack the economies of scale compared with larger developments,” he points out.
Nonetheless, he anticipates a top bid of $1,450 to $1,550 psf ppr, with offers from three to six tenderers.
The tender for the East Coast Road site will close at noon on Dec 3.
Serangoon North View site unlikely to be triggered
The Serangoon North View plot is adjacent to the Serangoon North Avenue 1 GLS site (now the 613-unit The Garden Residences) that was awarded in August 2017 at $965 psf ppr, according to PropNex’s Wong.
"While not particularly close to an MRT station presently, the future Serangoon North station (CR9) on the Cross Island Line, which is targeted to open in 2030, is roughly 700m away from the site," she added.
However, she does not expect developers to trigger the plot for sale, given upcoming private housing supply nearby. Two GLS sites at Chuan Grove awarded last year will yield over 1,000 new units in total.
Additionally, a Reserve List site at Chuan Grove, which can offer around 935 units, will be made available in October.