S$1,376 psf ppr prime bid at Chuan Grove GLS website reveals developer confidence in Lorong Chuan

The primary Authorities Land Gross sales (GLS) website tender at Chuan Grove closed on July 8 with a robust displaying, attracting seven bids and a notably bullish prime supply. A three way partnership between Sing Holdings and Sunway Developments emerged as the best bidder, submitting S$703.6 million, or S$1,376 psf per plot ratio (psf ppr), a degree that landed on the higher finish of analyst expectations.

This prime bid was 7.3% above the following finest supply of S$1,282 psf ppr from Metropolis Developments Ltd (CDL), with Sim Lian Group simply S$500,000 behind CDL at S$1,281 psf ppr.

Builders are circling Serangoon Gardens with renewed curiosity

The Chuan Grove GLS plot, positioned in District 19 simply off Lorong Chuan, is one in every of two adjoining 99-year leasehold websites launched beneath the GLS programme. The tendered website spans about 170,409 sqft, with a possible yield of 555 new properties and enjoys a strategic location 400m from Lorong Chuan MRT Station, a part of the Circle Line.

That is the primary GLS website round Lorong Chuan MRT in over 15 years, since Hong Leong Group secured a parcel in Serangoon Avenue 3 again in 2009 (now developed into The Scala). That undertaking was launched at a mean of S$1,150 psf in 2010. Loads has modified since then.

The present bid of S$1,376 psf ppr displays developer confidence in each the location’s connectivity and the sturdy efficiency of surrounding initiatives. It’s additionally in step with the momentum seen in current GLS tenders. The truth is, it’s similar to the S$1,388 psf ppr prime bid for Bayshore in March, and simply shy of the S$1,410 psf ppr that Dunearn Highway attracted in June, each thought of hotly contested suburban or prime plots.

Chuan Park’s sturdy gross sales doubtless boosted confidence

What doubtless fuelled the arrogance is the current success of Chuan Park, a 916-unit undertaking by Kingsford Improvement close by. Launched in November 2024, the event noticed 76% of items snapped up throughout launch weekend at a mean value of S$2,579 psf. As of July 2025, 84% of the undertaking has been offered at a mean of S$2,585 psf, in keeping with URA caveats.

Contemplating Kingsford acquired the previous Chuan Park website in a 2023 collective sale at about S$1,256 psf ppr, it’s no shock that builders bidding for Chuan Grove are concentrating on an identical pricing trajectory.

It additionally explains why Kingsford itself joined the tender, submitting a bid of S$1,251 psf ppr, whereas different main gamers like Coli Singapore, Hong Leong-TID, and CK Asset Holdings threw their hats into the ring too — the latter with the bottom bid of S$1,001 psf ppr.

Second plot reveals a clearer pipeline for Lorong Chuan

Whereas this primary Chuan Grove parcel has closed, a second, barely smaller website subsequent door is presently up for tender and can shut on September 4. The second Chuan Park website was launched beneath the 1H2025 GLS Programme, anticipated to yield about 505 new items. This brings the entire variety of properties throughout the 2 websites to over 1,000 items.

This concentrated provide might sound like loads, however analysts recommend in any other case. With solely 4,361 unsold personal items within the Exterior Central Area (OCR) as of Q1 2025 (the bottom since 2022), demand stays wholesome. Annual common OCR new house gross sales have hovered round 3,000 items, that means the present provide might be absorbed in simply over a yr.

A prepared pool of HDB upgraders and downsizers

Market watchers additionally imagine demand on this pocket of District 19 is well-supported by patrons seeking to improve or right-size. With established HDB estates like Serangoon, Bishan, and Ang Mo Kio close by, plus a big variety of landed properties in Serangoon Gardens, there’s a big pool of potential patrons.

Lorong Chuan can also be favoured for its faculty proximity, transport hyperlinks, and mature neighbourhood really feel. The MRT station is only one cease from Bishan (NSL/CCL interchange) and Serangoon (NEL/CCL interchange), boosting its regional accessibility.

What to anticipate transferring ahead

With Sing Holdings and Sunway Developments taking the lead on the primary website, all eyes will now flip to the September tender closing of the second Chuan Grove plot. Market analysts count on 3 to six bids for that website and a prime bid within the vary of S$1,000 to S$1,350 psf ppr, barely extra cautious given the elevated provide visibility.

Nonetheless, given the sturdy take-up at Chuan Park and comparatively tight unsold inventory within the OCR, the upcoming initiatives in Lorong Chuan may take pleasure in wholesome demand, particularly if priced proper between S$2,400 to S$2,600 psf.

In contrast to higher-density new launches like One Marina Gardens or the upcoming Upperhouse @ Orchard, this location gives a quieter, extra suburban really feel with nice faculties, an MRT inside strolling distance, and a gradual stream of demand from upgraders. Builders are clearly assured, and patrons would possibly need to hold a detailed eye on what launches right here in upcoming years.

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