URA Launches Two GLS Sites in East Coast Road and Serangoon

The Urban Redevelopment Authority (URA) has launched two residential sites for sale under its Government Land Sales (GLS) programme. The East Coast Road parcel is on the Confirmed List, and the Serangoon North View site is on the Reserve List. Together, they could yield approximately 320 new private homes.

East Coast Road site details and development constraints

The East Coast Road site can yield about 85 new private units. It is a 99-year leasehold plot near Siglap MRT station. The parcel is split into two plots separated by an open drain. It is one of the smallest private-housing parcels offered under the GLS programme in several years.

A key constraint is a minimum average unit size of 100 square metres. Wong Siew Ying, Head of Research and Content at PropNex Realty, said units must average at least 100 sq m in size “as the site sits within an area identified as having traffic issues”. The tender allows for flexible development. The successful bidder can build a single project across both plots or two separate ones. One plot may be developed for long-stay serviced apartments.

Primary schools within one kilometre include Ngee Ann Primary, Opera Estate Primary, and St. Stephen's School. Other nearby schools are Bedok Green Primary, CHIJ (Katong) Primary, and Tao Nan School. This is the first residential GLS plot released in the Siglap area in ten years. The previous site was the Siglap Road plot, awarded in January 2016 and developed into Seaside Residences. That plot sold for S$858 per square foot per plot ratio.

Serangoon North View site characteristics and market outlook

The Serangoon North View site is on the Reserve List. It can potentially accommodate about 235 homes. The plot is not currently near an MRT station. The future Serangoon North station on the Cross-Island Line is about 700 metres away and is due for completion in 2030.

The site sits beside The Garden Residences, a 613-unit development. That project was launched in 2018 by a Keppel Land and Wing Tai Asia joint venture. They won the land with a top bid of $965 psf per plot ratio in August 2017. Market watchers do not expect the Serangoon site to be triggered for sale soon due to ample nearby supply. Another Chuan Grove GLS plot on the reserve list, which could yield an estimated 935 units, will be available for application next month.

Schools within a one-kilometre radius include Rosyth School and Zhonghua Primary. Nanyang Junior College, the International French School, and the Australian International School are also in the area.

Context: recent GLS activity and pricing expectations

New supply along East Coast Road has been relatively limited. The latest private project in the Siglap vicinity is the 41-unit 77 @ East Coast, launched in 2020. The last major development was Seaside Residences, which launched in 2017. That project sold at least 70% of its units at an average price of $1,700 psf during its opening weekend. Its current average resale price is about $2,368 psf.

Analysts have provided bid estimates for the East Coast Road site. Wong Siew Ying estimates the top bid could range from $1,550 to $1,650 psf per plot ratio. She thinks the small development size could widen the field of bidders by requiring a smaller capital outlay. Realion Group expects a lower range of between $1,450 and $1,550 psf ppr. Justin Quek, Deputy CEO of Realion Group, notes the small plot size could deter some developers due to a lack of economies of scale.

The last GLS site awarded in the Bedok Planning Area was at New Upper Changi Road. A consortium won it with a bid of $1,537 psf per plot ratio. Two other awarded GLS sites in Chuan Grove, which can yield more than 1,000 new units in total, are still yet to be launched for sale. The tender for the East Coast Road site will close at 12 noon on 3 December 2026.