Developers seen keen on Berlayar Drive, New Upper Changi GLS sites

Analysts expect healthy interest, though bid forecasts differ across the two plots.

Developers are expected to show healthy interest in the government land sale sites at Berlayar Drive and New Upper Changi Road, supported by steady private housing demand, improved buyer sentiment, and the need to replenish land inventory.

The Urban Redevelopment Authority launched the tenders for the two sites, which can yield about 415 units at Berlayar Drive and 1,010 units at New Upper Changi Road, according to Realion (OrangeTee & ETC) Group.

PropNex said the two sites are likely to draw healthy interest among developers, citing robust take-up at recent new launches, steady underlying demand for new private homes, and sustained demand from HDB upgraders.

The Berlayar Drive plot is the second private residential GLS site launched in the Greater Southern Waterfront precinct.

The first nearby Telok Blangah Road site was awarded to Kingsford Huray Development in November 2025 at $1,326 price per square foot (psf) per plot ratio (ppr), or $918.3m, after attracting three bids.

The site is expected to benefit from its waterfront and city-fringe location. Huttons said waterfront residential sites are scarce in Singapore, adding that the site could offer views of Sentosa and Labrador Nature Park.

Demand for the future Berlayar Drive project could come from HDB upgraders in nearby towns such as Bukit Merah and Queenstown. PropNex also noted possible pent-up demand, as the last major new project launched nearby was The Reef at King’s Dock in 2021, which was fully sold in 2024.

Analysts’ bid forecasts for Berlayar Drive were broadly close. PropNex expects four to six bids, with a top bid of $1,350 to $1,450 psf ppr. Huttons expects up to five bidders and a top bid of $1,350 to $1,450 psf ppr, whilst Realion expects four to seven bidders at $1,400 to $1,500 psf ppr.

PropNex said the site could be popular among developers due to its accessibility, nearby amenities, transport connectivity, and strong demand for mass-market homes.

However, the number of bids could be moderate as the land price may approach or exceed $1b, given its large maximum gross floor area of over 927,000 square feet.

Huttons said the plot is likely the last parcel of land and the first GLS site within walking distance of the Bedok integrated transport hub in 16 years. It said the mature estate is supported by public transport links, access to the ECP and PIE, Bedok Mall, Heartbeat @ Bedok, food centres, and nearby schools.

Realion noted that more than 9,500 estimated four-room and five-room HDB flats in Bedok and Tampines are expected to fulfil their minimum occupation period between 2026 and 2029, creating a sizeable upgrader pool.

The most recent comparable site in the area was Bedok Rise, which was awarded in December 2025 at $1,330 psf ppr after drawing 10 bids, according to PropNex. Realion said the New Upper Changi Road site may have an advantage due to its closer proximity to Bedok Mall.

Bid expectations for the New Upper Changi Road site were more varied. PropNex expects two to four bids, with a top bid of $1,250 to $1,350 psf ppr. Realion expects four to seven bids at $1,350 to $1,450 psf ppr, whilst Huttons expects up to four bidders at $1,100 to $1,200 psf ppr.

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