Second Chuan Grove GLS site launched for tender
Caveats lodged with URA as of May 13 show that 753 units (82%) at Chuan Park have actually been marketed, keeping just 163 units left. The minimal new housing units may equate to higher demand for future private residential locations, adds Quek.
Justin Quek, CEO of OrangeTee & Tie, mentions that the future projects on the Chuan Grove places can benefit from the constrained interest that is apparent for new houses in the location. Last November, the release of the Kingsford Team’s Chuan Park, situated just down the road from the Chuan Grove spots, garnered a robust response with 76% of its 916 units snapped up throughout the kick off weekend. The units were sold at an average cost of around $2,579 psf.
OrangeTee’s Quek anticipates up to 6 prospective buyers for the site, with a leading proposal of $1,100 to $1,200 psf. “Considered that there is a big catchment of potential HDB upgraders from the close-by areas of Serangoon, Bishan, and Ang Mo Kio, property developers might be attracted to bid for land here,” he reveals. Quek includes that the landed residential enclaves in Serangoon Gardens and Lorong Chuan might also offer a pool of landed homeowners around seeking to right-size.
He thinks the newly-launched Chuan Grove site might bring in as much as three prospective buyers, with a top bid varying from $900 to $1,000 psf per plot ratio (ppr). “In spite of the unpredictabilities from worldwide tolls, this site has reasonably lower threat, considering the low level of unsold units in the location in addition to islandwide,” he says.
On The Other Hand, Marcus Chu, CEO of ERA Singapore, anticipates the result of the tender for the Chuan Grove site started last December to factor into bids for the second plot. “If the initial Chuan Grove site observes high interest and offers, we might see demand spillover into this site,” he states. As it is, he forecasts between three to 5 bids for the latest site, with a leading quote of $1,250 to $1,350 psf ppr.
URA has recently launched the tender for a housing Government Land Sale (GLS) location along Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold place measures 156,231 sq ft and can generate about 505 units. The area was started for sale as portion of the 1H2025 GLS Programme. The tender will close up on Sept 4.
Union Square Residences condominium
Huttons’ Yip explains that the Chuan Grove spots may additionally leverage the limited supply of in the market housing in the wider Outside Central Region (OCR). “As of 1Q2025, the OCR has the most affordable number of unsold units of 4,361 on the market,” he claims. In comparison, yearly sales in the OCR have actually averaged around 3,000 units in the last five years. This means the present unsold supply could be consumed by the industry in just around a year, Yip estimates.
As the Chuan Grove plots stand right next to each other, they share similar locational aspects, sees Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove area is a five-minute walking to Lorong Chuan MRT Station on the Circle Line, whilst also being beside the NTP+ shopping center, which provides dining and retail amenities.
Institutes within a 1km radius 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 also not far away, that may supply a pool of interested tenants, states Yip.
This is the second GLS location at Chuan Grove as being opened for tender. Last December, an adjacent plot within the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, that can potentially produce 555 property units, will close on July 8.
