Allgreen Tops Ten Bids Bedok Rise Gls Site 1330 Psf Ppr
Overview of Recent Government Land Sale at Bedok Rise
In a recent competitive bidding process, Allgreen Properties has secured a government land sale (GLS) site at Bedok Rise with a top bid of $464.8 million, translating to $1,330 per square foot per plot ratio (psf ppr). The tender, which closed on November 27, saw significant interest with ten bids submitted. This development follows the notable activity seen with the GLS plots at Slim Barracks Rise in September 2021, which also attracted ten bids.
Adjacent developments such as the Sembawang Road EC provide an interesting comparison in terms of market trends and developer interest in suburban residential sites.
Close Competition Among Top Bidders
Allgreen’s winning bid narrowly surpassed the second-highest offer by Hoi Hup Realty, which stood at $462.8 million or $1,324 psf ppr. Other notable bids included those from a consortium led by ABR Holdings, LWH Holdings, Macly Group, and Roxy-Pacific Holdings, and joint ventures such as the one between Hong Leong Holdings, Hong Realty, and TID, showing the site’s attractiveness due to its promising location and potential.
Strategic Location Near Key Transport Hub
The Bedok Rise site is appealing due to its proximity to Tanah Merah MRT Station, which is on the brink of becoming an interchange for the East-West Line and the upcoming Thomson-East Coast Line. This significant transport upgrade has been a critical factor in the strong developer interest, according to Mark Yip, CEO of Huttons Asia.
Market Dynamics and Future Projections
Alice Tan from Knight Frank Singapore attributes the robust developer interest to over 10,000 new home sales in the first ten months of 2025, signaling a buoyant market that encourages developers to bolster their land banks. Mohan Sandrasegeran of SRI, highlights that new home sales in the Outside Central Region (OCR), where the site is located, have almost doubled this year, reinforcing the area’s reputation as a cornerstone of the new home sales market.
The Bedok Rise plot, spanning 218,438 square feet with a 99-year leasehold term, is set to accommodate about 380 residential units. This site represents the last available parcel facing the Tanah Merah MRT Station, following the sale of the Tanah Merah Kechil Link site now developed into the Sceneca Residence.
Anticipated Developments and Pricing Strategies
Looking ahead, the newly acquired site is expected to be the sole new launch in the East once developed. Sandrasegeran from SRI anticipates that the new project could see unit pricing ranging from $2,600 to $2,700 psf, aiming to attract a mix of buyers, including existing landed property owners and HDB upgraders seeking a well-connected and amenity-rich living environment.