Allgreen tops ten bids for Bedok Rise GLS site at $1,330 psf ppr
Allgreen Properties’ bid is just 0.4% more than the second-highest bid of $1,324 psf ppr from Hoi Hup Realty (Source: EdgeProp Landlens)
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Kuok family-controlled developer Allgreen Properties has submitted the top bid of $1,330 psf per plot ratio (ppr), or $464.8 million, for a government land sale site (GLS) at Bedok Rise. The tender for the site closed on Nov 27, attracting ten bids.
According to Mark Yip, CEO of Huttons Asia, this marks the highest number of bidders for a GLS plot since Parcels A and B at Slim Barracks Rise. The tenders for the two sites closed in September 2021 with ten bids each.
Allgreen Properties’ bid is just 0.4% more than the second-highest bid of $462.8 million ($1,324 psf ppr), which came from Hoi Hup Realty. Other bids came from a consortium comprising ABR Holdings, LWH Holdings, Macly Group and Roxy-Pacific Holdings ($1,291 psf ppr), a joint venture between Hong Leong Holdings, Hong Realty and TID ($1,270 psf ppr) and Wing Tai Holdings ($1,265 psf ppr).
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Yip attributes the strong turnout from developers to the site’s location adjacent to the Tanah Merah MRT Station on the East-West Line, which is slated to undergo conversion into an interchange that links to the Thomson-East Coast Line.
Alice Tan, head of consultancy at Knight Frank Singapore, believes the strong uptake of over 10,000 new home sales in the first ten months of 2025 could have prompted developers to increase their land acquisition efforts.
The strong bidding activity also suggests that developers continue to be attracted to land parcels within the Outside Central Region (OCR) due to the area remaining an “anchor of the new home sales segment,” says Mohan Sandrasegeran, head of research and data analytics at SRI. He adds that new home sales within the OCR have risen to 3,799 units in 2025, up from 1,952 units recorded last year.
The tender for the Bedok Rise GLS site was launched in September. Spanning a land area of 218,438 sq ft, the 99-year leasehold residential site can accommodate about 380 housing units.
The plot is the last available land parcel fronting Tanah Merah MRT Station. Before this, the last GLS site sold in the area was a plot at Tanah Merah Kechil Link, which is now the site of the 268-unit Sceneca Residence developed by MCC Singapore, Ekovest Developments and The Place Holdings.
The 99-year leasehold condo, which launched for sale in January 2023, saw about 60% of units taken up at an average price of $2,072 psf during its launch weekend. Caveats lodged with URA show that the last unit at Sceneca Residence was sold on Nov 4, which means the condo is now fully taken up. Units were sold at an average price of $2,065 psf.
“The scarcity of GLS sites nearby in recent years has led to a shortage of new homes,” notes Marcus Chu, CEO of ERA Singapore. Chu believes this could have resulted in pent-up demand for non-landed homes in the Tanah Merah area.
According to Huttons’ Yip, the upcoming project on the site may be the sole new launch in the East once it hits the market. He anticipates potential buyers to come from landed homeowners as well as HDB upgraders.
Meanwhile, SRI’s Sandrasegeran expects the new launch prices for the project to range between $2,600 psf to $2,700 psf. “This pricing strategy would position the project competitively for buyers seeking a well-connected, amenity-rich living environment while reflecting both the site’s advantages and prevailing market conditions,” he notes.
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