Bedok Rise GLS: 10 Bids, A Strong Signal of Rising Developer Confidence
The latest Government Land Sales tender at Bedok Rise closed with a surprising level of interest. Ten developers put in bids for this residential plot next to Tanah Merah MRT station. This was far above the three to seven bids that analysts had expected earlier in the week.
Allgreen Properties, part of the Kuok group, submitted the top offer at S$464.8 million, which works out to S$1,330 psf ppr. The plot can yield about 380 private homes. This top offer also exceeded the earlier projected range of S$1,100 to S$1,300 psf ppr.
Coming in close was Hoi Hup Realty with S$462.8 million, or S$1,324.16 psf ppr, while a consortium made up of ABR Holdings, LWH Holdings, Macly Capital and Roxy Pacific offered S$451.3 million, or S$1,291.23 psf ppr.
The lowest bid in the tender was S$1,121.42 psf ppr from a tie up between UOL, Singapore Land and Kheng Leong.
This narrow pricing gap, less than 20 percent between the highest and lowest bids, shows strong alignment across developers on the attractiveness of the site.
| Bidders | Bid Price (S$M) | S$ psf ppr |
|---|---|---|
| Bellis Residential (Allgreen Properties) | 464.80 | 1,329.89 |
| Hoi Hup Realty | 462.80 | 1,324.16 |
| ABR Holdings, LWH Holdings, Macly Capital, RP Ventures (Roxy-Pacific Holdings) | 451.29 | 1,291.23 |
| Intrepid Investments (Hong Leong Holdings), Garden Estates (Hong Realty), TID Residential (Hong Leong Holdings and Mitsui Fudosan) | 443.87 | 1,270.01 |
| Winnex Investment (Wing Tai Holdings) | 442.00 | 1,264.65 |
| Ekai Development, Optimum (Precise Development), Guan Xing (L K Ang Construction) | 439.90 | 1,258.64 |
| CL Emerald (CapitaLand Development), MJR Investment (Mitsubishi Estate Co), Tokyo Tatenomo Asia | 414.96 | 1,187.28 |
| Frasers Property Phoenix, Sekisui House | 402.11 | 1,150.50 |
| COLI (Singapore) (China Overseas Land & Investment) | 395.00 | 1,130.17 |
| United Venture Development | 391.94 | 1121.42 |
Why Bedok Rise Attracted Strong Competition
Analysts point out that developers are becoming more confident as 2025 heads toward the end of the year. Alice Tan, head of consultancy at Knight Frank Singapore, noted that the number of bidders and rising premiums suggest a renewed willingness to push land prices.
Earlier tenders in 2025 had been more measured. However, in recent months, developers have been bidding more aggressively. This shift is happening even though several tenders in 2024, such as Marina Gardens Crescent, Jurong Lake District and Media Circle, received bids that were considered too low to award.
Higher land prices today usually translate to higher launch prices 12 to 15 months later. While this could prompt fresh cooling measures, authorities have historically reacted more slowly to land price increases compared to private home price spikes.
Bedok Rise: The Last Site Near Tanah Merah MRT
Analysts see this plot as the likely final greenfield site around Tanah Merah MRT. It is well located near schools, Bedok Town Centre, and retail and daily conveniences. With just 268 launch units from Sceneca Residence in January 2023 and the 720 unit Grandeur Park Residences from 2017, new supply in the area has been tight. Both projects have already sold out.
Given the land price, observers estimate a possible launch average of S$2,300 to S$2,700 psf in 2027. Nearby, Sceneca Residences is transacting at a median S$2,065 psf, while older resale units in the area range from S$1,481 to S$2,003 psf.
Recent Benchmarks in the East
The Bedok Rise result follows another strong showing in the East. SingHaiyi won the Bayshore plot in March with a S$1,388 psf ppr bid, beating seven other bidders. This set a new benchmark for the region and further boosted sentiment.
We have also seen firm competition at other sites. A Dorset Road plot at Farrer Park drew nine bids and was awarded at S$1,338 psf ppr. A Bukit Timah Road plot in the Newton area saw eight bids, topping out at S$1,820 psf ppr. A Dunearn Road parcel in the new Bukit Timah Turf City estate attracted nine bids and was awarded at S$1,410 psf ppr.
| Site | Top Bidder | Bid Price (S$M, if available) | S$ psf ppr | Notes |
|---|---|---|---|---|
| Bedok Rise | Allgreen Properties | 464.80 | 1,329.89 | 10 bids received |
| Bayshore Plot | SingHaiyi | Not disclosed | 1,388 | 8 bids received |
| Dorset Road (Farrer Park) | UOL Group | 524.30 | 1,338 | 9 bids received |
| Bukit Timah Road (Newton) | HH Investment | 566.29 | 1,820 | 8 bids received |
| Dunearn Road (Turf City) | Frasers Property Group | 491.45 | 1,410 | 9 bids received |
Macroeconomic Conditions Add Momentum
Falling borrowing costs have helped. The three month SORA has dropped by about 180 basis points since the start of the year. Singapore’s economy has also exceeded expectations. On Nov 21, the government raised its full year growth forecast to about 4 percent for 2025, up from the earlier 1.5 to 2.5 percent estimate.
In the first nine months of 2025, new home sales in the Outside Central Region reached 3,799 units, nearly double year on year. Suburban launches accounted for nearly half of all new private home sales.
Developers are now actively replenishing their land banks as projects continue to sell down quickly.
While optimism is clear, some analysts are calling for restraint. Global uncertainties and job cuts among multinational firms could affect buyer confidence next year. A more disciplined approach to land bidding could help protect long term margins and keep the market healthy.
A Quick Word for Buyers Considering Long Term Value
With land prices trending up, many buyers are looking at projects that still offer strong value in today’s market before the next wave of price increases. One development that continues to stand out is The Continuum, a freehold project in the RCR starting from S$2,636 psf. Freehold land in the city fringe is increasingly scarce, and pricing at this level is compelling compared to future launches that may be influenced by the rising GLS costs seen in sites like Bedok Rise and Bayshore. For buyers planning ahead, this is a window to move before the next cycle of price growth sets in.
If you would like insights on prices, floor plans or investment outlook for The Continuum, feel free to reach out.
FAQ
What was the top bid for Bedok Rise GLS?
The top bid was S$464.8 million or S$1,330 psf ppr by Allgreen Properties.
How many bids did the Bedok Rise tender receive?
Ten bids were submitted.
How many homes can be built on the Bedok Rise site?
The site can yield about 380 private homes.
What is the expected launch price for the future Bedok Rise project?
Analysts estimate about S$2,300 to S$2,700 psf in 2027.
Which nearby projects influence the price benchmark?
Sceneca Residences at S$2,065 psf and older resale projects between S$1,481 and S$2,003 psf.
Is The Continuum still considered good value?
Yes. The Continuum is a freehold RCR project from S$2,636 psf which is attractive compared to rising land costs.
