Why are developers bidding more aggressively for GLS sites in late 2025?
Developers are bidding more actively because new home sales have been strong through the year, borrowing costs have eased, and supply in key locations has tightened. This combination gives developers confidence that demand will stay healthy, which encourages them to secure land before prices move further.
The tender for the Bedok Rise plot highlights this shift clearly. Ten bids came in, which is far more than analysts expected. Allgreen Properties led with S$464.8 million, translating into S$1,330 psf ppr. The next two bidders, Hoi Hup Realty and a consortium led by ABR Holdings, were only marginally behind at S$1,324.16 psf ppr and S$1,291.23 psf ppr. The narrow spread shows how aligned developers were in their view of the site’s appeal.
| Bidders | Bid Price (S$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 |
With only a limited number of greenfield plots left near Tanah Merah MRT, Bedok Rise sits in a location with proven demand, established schools and quick access to retail and transport.
Momentum in the East was already building after the Bayshore parcel was awarded earlier this year at S$1,388 psf ppr. That set a benchmark for the region and signalled improving sentiment. As sales of recent launches continued to perform, developers began stepping forward with stronger bids for well located plots.
This trend is not limited to the East. Across Singapore, the last several tenders have shown competitive interest. A Dorset Road plot in Farrer Park attracted nine bids and closed at S$1,338 psf ppr. The Bukit Timah Road plot near Newton MRT saw eight bids and reached S$1,820 psf ppr. At the new Bukit Timah Turf City estate, the Dunearn Road parcel drew nine bids and was awarded at S$1,410 psf ppr. These results reflect a market where developers are positioning early, anticipating continued buyer demand through 2026 and beyond.
| GLS Sites | Top Bidder | Bid Price (S$M, if available) | S$ psf ppr | Notes |
|---|---|---|---|---|
| Bedok Rise | Allgreen Properties | 464.80 | 1,329.89 | 10 bids received |
| Bayshore Plot | SingHaiyi | 658.89 | 1,388 | 8 bids received |
| Dorset Road (Farrer Park) | UOL Group | 524.30 | 1,338 | 9 bids received |
| Bukit Timah Road (Newton) | Taiwanese bidder | 566.29 | 1,820 | 8 bids received |
| Dunearn Road (Turf City) | Frasers Property Group | 491.45 | 1,410 | 9 bids received |
Part of this confidence comes from the broader economy. The three month SORA has fallen by about 180 basis points since the start of the year, easing financing conditions. Singapore’s GDP forecast was also raised to around 4 percent for 2025. On the demand side, new home sales in the Outside Central Region reached 3,799 units in the first nine months of the year, almost double year on year. Suburban projects have been especially popular, accounting for a large share of transactions.
SORA Rate Trend from Nov 2023 to Nov 2025
There are still notes of caution. Analysts point out the uncertainty in global markets and job cuts from multinational firms. That said, the level of interest seen in the recent tenders makes clear that developers are preparing for the next cycle of launches, and many are adopting a forward looking view.
For homeowners and investors, these tender outcomes suggest a gradual rise in launch prices over the next 12 to 15 months. It also highlights the importance of watching upcoming sites closely, as supply in certain areas remains tight and competition for well located plots is increasing.
If you are tracking upcoming launches that sit close to major amenities and transport, River Modern is one worth shortlisting. Its location next to the Singapore River puts you early in line for a project shaped by the same land pressure now driving bids in the OCR and RCR. Reach out if you want details on pricing or unit mix.
