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Tenders launched for GLS sites at Canberra Crescent and De Souza Avenue

By Nicholas Lam

/ EdgeProp Singapore |

April 16, 2024 9:34 PM SGT

The GLS site at De Souza Avenue is located off Jalan Jurong Kechil and could yield up to 355 residential units (Image: EdgeProp LandLens)

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URA has launched the tender for a site at Canberra Crescent and another site at De Souza Avenue. Both plots have been released under the Confirmed List of the 1H2024 government land sales (GLS) programme.

The GLS site at De Souza Avenue is located off Jalan Jurong Kechil in District 21. The 207,155.8 sq ft site has a maximum gross floor area (GFA) of 331,453 sq ft and could yield up to 355 residential units.

The site is close to the revitalised Beauty World neighbourhood. Rejuvenation plans include the introduction of new amenities at the mixed-use development The Reserve Residences, which will be linked to a new integrated transport hub connecting Beauty World MRT Station and a bus interchange, as well as a three-storey retail mall.

Less than 200m from the De Souza Avenue GLS site was a GLS site at Jalan Jurong Kechil that is being developed into the 258-unit Verdale by COLI Singapore and CSC Land Group. The developers won the site after they submitted the winning bid of $215 million, or $1,002 psf per plot ratio (ppr), in September 2018.

Lee Sze Teck, senior director of data analytics at Huttons Asia, says that the De Souza Avenue site could attract one to three bidders, with a possible top bid that ranges from $397.74 million ($1,200 psf ppr) to $430.88 million ($1,300 psf ppr).

There is keen demand for homes in the Upper Bukit Timah area, says Justin Quek, CEO of OrangeTee & Tie (OTT). He adds that while there has been a steady supply of new homes, the existing residential units in the vicinity have been largely sold.

Existing projects such as Verdale, The Linq @ Beauty World and The Hillford are fully sold, while The Reserve Residences only has 58 unsold units out of 732 units, based on the latest developer sales report.

The 258-unit Verdale by COLI Singapore and CSC Land Group is fully sold out (Source: EdgeProp Singapore, URA)

Meanwhile, the 219,985 sq ft site at Canberra Crescent is at the junction of Canberra Crescent and Canberra Street in District 27. The residential site has a maximum gross floor area of 351,980 sq ft and could yield up to 375 units. The site is close to Bukit Canberra, an integrated sports and community hub featuring amenities like a hawker centre, a swimming pool and an indoor sports hall.

Recently awarded GLS sites in the vicinity include a plot at Canberra Drive which is being developed into The Commodore by JBE Holdings, after the developer submitted a winning bid of $129.2 million ($644 psf ppr) for the site in 2020. Meanwhile, a neighbouring site, also along Canberra Drive, is being developed into The Watergardens at Canberra by UOL Group, after it submitted a top bid of $270.2 million ($650 psf ppr) in 2020. Both projects are fully sold.

The residential site at Canberra Crescent has a maximum gross floor area of 351,980 sq ft and could yield up to 375 units. (Image: EdgeProp LandLens)

Huttons’ Lee expects the Canberra Crescent site to attract up to three bids, with the top bid landing between $316.78 million ($900 sf ppr) and $351.98 million ($1,000 psf ppr).

“This site is surrounded by a sizeable number of HDB flats that have reached their MOP [minimum occupation period] status in the last five years,” says Marcus Chu, CEO of ERA Singapore. He adds that this provides a critical mass of potential HDB upgraders in the area.

The tender for the Canberra Crescent and De Souza Avenue GLS sites will close on July 18.

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