Senja Close EC™

Competitive Bidding for Bedok Rise GLS Site Highlights Developer Interest

The recent government land sale (GLS) at Bedok Rise has concluded with Allgreen Properties leading the bids at $464.8 million, which translates to $1,330 per square foot per plot ratio (psf ppr). This tender, which closed on November 27, saw a notable participation level, with ten bids submitted, signaling robust developer interest in the region.

Adjacent developments such as Senja Close EC have also seen heightened interest owing to their strategic locations and comprehensive amenities, reflecting a growing trend in Singapore’s real estate market where connectivity and lifestyle offerings are prioritized.

High Participation Driven by Strategic Location

Mark Yip, CEO of Huttons Asia, noted that the Bedok Rise site drew the highest number of bidders for a GLS site since similar bids in 2021 for parcels at Slim Barracks Rise. The close competition saw Allgreen’s bid narrowly surpass the second-highest by merely 0.4%, with Hoi Hup Realty placing a close $462.8 million bid ($1,324 psf ppr).

The strong developer turnout is largely attributed to the site’s proximity to the Tanah Merah MRT Station, poised to become more pivotal once it transforms into an interchange connecting the East-West Line with the Thomson-East Coast Line.

Market Dynamics and Future Prospects

Alice Tan from Knight Frank Singapore suggests that robust home sales, exceeding 10,000 units in the initial ten months of 2025, likely bolstered developer confidence in acquiring land. These sales figures represent a significant uptick from previous years, indicating a sustained buyer interest in new residential projects within the Outside Central Region (OCR).

Mohan Sandrasegeran of SRI echoes this sentiment, highlighting the OCR’s continuing allure due to its status as a cornerstone of the new home sales segment. He projects the future launch prices for the Bedok Rise project to be between $2,600 and $2,700 psf, positioning it as a competitive option for potential buyers looking for connectivity and amenities.

The development planned on the Bedok Rise GLS site, which is the last available land parcel adjacent to Tanah Merah MRT Station, is anticipated to be a significant new launch in the East, drawing interest from both landed property owners and HDB upgraders. Given the full uptake of units at nearby Sceneca Residence, the upcoming project is likely to attract keen interest once launched.