A map showing the location of the Senja Close executive condo site (Picture: EdgeProp Landlens)
The Government Land Sale (GLS) tenders for two executive condo (EC) sites located at Senja Close and Woodlands Drive 17 closed on Aug 5. The tender for the Senja Close site, located in Bukit Panjang, drew five bids, with the highest bid of $252.899 million submitted by City Developments (CDL). This works out to a land rate of $771 psf per plot ratio (psf ppr).
CDL also submitted the highest bid of $782 psf ppr for the Woodlands Drive 17 EC site, setting a new price psf ppr record for EC sites. “These latest moves reflect CDL’s renewed focus on the public-private hybrid housing segment,” remarks Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI).
According to Sandrasegeran, the last EC site purchased by CDL was in 2022, when it submitted the top bid of $336.068 million ($626 psf ppr) for a plot at Bukit Batok West Avenue 5, which became the site of the 512-unit Lumina Grand.
Read also: CDL submits record-breaking bid of $782 psf ppr for EC site at Woodlands Drive 17
The 109,353 sq ft, 99-year leasehold EC site at Senja Close was launched for sale in March as part of the 1H2025 GLS Programme. In a statement, CDL says its proposed scheme for the site comprises 306 units across two residential towers spanning 26 and 27 storeys.
The Senja Close site is the first EC site to be launched for sale in Bukit Panjang in nearly 15 years, says Wong Siew Ying, head of research and content at PropNex. The last EC plot awarded in the area was a site at Segar Road that sold for $182 million ($271 psf ppr) to Grand Isle Holdings, a subsidiary of CDL, in 2010. The site was later developed into the 602-unit Blossom Residences that launched in 2011.
Apart from Blossom Residences, the only other EC project in Bukit Panjang is Chestervale on Bangkit Road, says Wong. “In view of the limited EC projects in Bukit Panjang, we expect the new EC offering in Senja Close to see healthy interest from buyers,” she continues. Based on the top bid land rate of $771 psf ppr, Wong estimates that the project could have an average selling price above $1,800 psf.
Most of the interest is anticipated to come from HDB upgraders in neighbouring HDB towns. “With almost 9,000 four-room and five-room flats having met their Minimum Occupation Period in the nearby HDB towns of Bukit Panjang and Choa Chu Kang from 2019 to 2021, there may be a healthy demand base of potential upgraders for this project, supported by the growth of HDB resale prices,” says Justin Quek, CEO of OrangeTee, which is part of Realion Group.
Quek adds that upgraders will likely be drawn to the Senja Close site’s attributes, including its proximity to the Jelapang LRT Station, which is two stops away from the Bukit Panjang MRT Station on the Downtown Line.
The site is also close to amenities such as Senja Hawker Centre and Greenridge Shopping Centre, while various schools are within a 1km proximity, including Greenridge Primary School, West Spring Primary School, and West View Primary School.
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The EC at Senja Close joins a wave of EC launches in the west over the past few years, remarks Eugene Lim, key executive officer at ERA Singapore. “However, many of these developments are in or near the emerging Tengah township, which is an up-and-coming estate still in the early stages of development,” he says. To that end, Lim believes homebuyers seeking an EC in the west with access to established amenities may find the Senja Close EC site particularly appealing.