Kuok family-controlled developer Allgreen Properties secured the top bid of $464.8 million, which works out to $1,330 per square foot per plot ratio (psf ppr), for a Government Land Sale (GLS) site at Bedok Rise. The tender, which closed on November 27, drew a competitive ten bids—the highest number for a GLS plot since two sites at Slim Barracks Rise closed in September 2021.
Allgreen’s winning offer was narrowly ahead, being just 0.4% higher than the second-highest bid of $462.8 million ($1,324 psf ppr) from Hoi Hup Realty. The strong developer interest is linked to the site’s desirable location next to the Tanah Merah MRT Station, which is set to become an interchange with the Thomson-East Coast Line. Other contributing factors include a healthy uptake of new home sales in 2025 and the continued appeal of land parcels in the Outside Central Region (OCR).
This 218,438 sq ft, 99-year leasehold residential plot is the last available parcel fronting Tanah Merah MRT Station and can yield approximately 380 housing units. Market experts attribute the keen interest to a pent-up demand for non-landed homes in the Tanah Merah area, following the sell-out of the nearby Sceneca Residence. The upcoming development on this site is anticipated to be the only new launch in the East upon its debut, with projected launch prices ranging from $2,600 psf to $2,700 psf.
The substantial increase in new home sales, surpassing 10,000 units within the first ten months of 2025, appears to be prompting developers to intensify their land acquisition endeavors, as noted by Alice Tan, head of consultancy at Knight Frank Singapore.
This robust bidding activity underscores the sustained appeal of land parcels situated in the Outside Central Region (OCR) to developers. Mohan Sandrasegeran, head of research and data analytics at SRI, observes that the OCR remains a critical component for new home sales. New home sales in the OCR have nearly doubled in 2025, escalating to 3,799 units from 1,952 units in the preceding year.
One such land parcel is the Bedok Rise Government Land Sales (GLS) site, which was offered for tender in September. This 99-year leasehold residential plot encompasses 218,438 sq ft and is projected to yield approximately 380 housing units.
This plot holds significance as it is the final available land parcel positioned directly opposite Tanah Merah MRT Station. The previous GLS site in the immediate vicinity was located at Tanah Merah Kechil Link, which has subsequently been developed into the 268-unit Sceneca Residence by MCC Singapore, Ekovest Developments, and The Place Holdings.
Launched in January 2023, Sceneca Residence achieved an approximate 60% take-up rate during its inaugural weekend at an average price of $2,072 per square foot (psf). Urban Redevelopment Authority (URA) caveats indicate that the development is now entirely sold, with the final unit transaction occurring on November 4th. Units at Sceneca Residence were sold at an overall average price of $2,065 psf.
The scarcity of Government Land Sale (GLS) sites has caused a shortage of new homes in the Tanah Merah area, creating pent-up demand for non-landed residential properties, according to ERA Singapore CEO Marcus Chu. Huttons' Yip expects the upcoming project, potentially the only new launch in the East, to draw interest from a variety of buyers, including landed homeowners and HDB upgraders. SRI’s Sandrasegeran forecasts the new launch prices to be between $2,600 psf and $2,700 psf, which he believes is competitive, reflecting the site's advantages and current market conditions.