Developers expected to bid up to $1,300 psf for GLS plots

Huttons noted that the upcoming land supply in more coveted areas may prompt some developers to sit out these tenders.

Developers are expected to submit top bids ranging from $900 to $1,300 per square foot per plot ratio (psf ppr) for the three newly launched Government Land Sales (GLS) sites at Upper Thomson Road (Parcel A), Dorset Road, and Telok Blangah Road, according to projections from Huttons Asia and OrangeTee & Tie.

The Telok Blangah Road site, the first private residential plot released as part of the Greater Southern Waterfront transformation, is anticipated to command the highest bids between $1,200 and $1,300 psf ppr.

Analysts from both firms noted the absence of new launches since The Reef at King’s Dock in 2021, and believe this pent-up demand could drive aggressive bidding.

Meanwhile, the Dorset Road site is expected to attract top offers of $950 to $1,200 psf ppr. Located near Farrer Park MRT and City Square Mall, the site offers strong rental and resale potential due to its central location and proximity to healthcare and educational institutions.

OrangeTee predicts up to seven bidders, citing the successful sell-out of Piccadilly Grand nearby as a benchmark.

For the Upper Thomson Road (Parcel A) site, forecasts range between $900 and $1,050 psf ppr.

With a direct link to Springleaf MRT and ample greenery, the site is expected to appeal to buyers seeking tranquil yet connected living. Both property consultancies noted that the inclusion of commercial space will help meet future residential demand in the growing Springleaf precinct.

Huttons noted that the upcoming land supply in more coveted areas like Kallang and Tanjong Rhu may prompt some developers to sit out these tenders.

Additionally, macroeconomic factors, including inflation risks, interest rate uncertainty, and potential changes in the 2025 Master Plan, may influence bidding strategies.

The tenders close in Q4 2025, with Upper Thomson (Parcel A) due October 23, Dorset Road on October 9, and Telok Blangah Road on November 4.

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