First Greater Southern Waterfront GLS site attracts 3 bids, led by Kingsford at S$1,326 psf ppr

The Government Land Sales (GLS) tender for the residential site at Telok Blangah Road closed on 4 November 2025 with three bids received, signalling measured but steady developer interest in one of Singapore’s most anticipated precincts.

Telok Blangah Road GLS tender result

Kingsford Group submitted the top bid of S$918.3 million, which works out to S$1,326 per square foot per plot ratio (psf ppr). This narrowly edged out the GuocoLand–Hong Leong Holdings consortium, which offered S$880 million (S$1,271 psf ppr). A third bid from Frasers Property, Metro Holdings, and Soilbuild Group Holdings came in at S$863.26 million, or S$1,246 psf ppr.

The tight margin between the top three bids — just 4.4% between Kingsford and the next highest offer, and 6.4% between first and third place — also suggests that developers share a common view of the site’s underlying value.

According to Wong Siew Ying, Head of Research and Content at PropNex, the site’s outcome reflected a “relatively moderate response”. She explained that the cautious turnout may be due to the large financial commitment owing to the sizable development. She also noted that sites with a land price exceeding S$800 million have generally attracted fewer bids — typically between one and four — over the past two years.

Site details and development potential

Spanning 1.36 hectares (147,352 sqft), the 99-year leasehold site carries a gross plot ratio of 4.7, allowing a potential gross floor area (GFA) of about 692,555 sqft. The parcel could yield around 745 private homes, making it one of the more substantial residential plots on the 1H2025 Confirmed List.

Based on the top bid price, Wong estimated that the future project’s average selling price could be above S$2,800 psf. She expects buying interest to be supported by pent-up demand for new private homes in the locale, pointing out that the last major launches nearby — The Reef at King’s Dock in 2021 and Corals at Keppel Bay in 2013 — were several years apart.

This new Telok Blangah Road GLS tender is the first private residential plot launched on the former Keppel Club site, part of the larger Greater Southern Waterfront (GSW). The upcoming development will be among the first few to shape the identity of this new waterfront city district, which is envisioned to deliver around 10,000 homes (both public and private) over the next decade.

First private condo in the new GSW precinct

The Telok Blangah Road GLS site occupies a prime position at the heart of the GSW, making it a pivotal starting point for private housing within this transformative zone. Its location offers developers a rare early-mover advantage, as future launches in the area are expected to build upon the momentum this site sets.

For developers, the appeal lies not only in the site’s strategic location but also in its branding potential. Being the first condominium in the Greater Southern Waterfront core provides strong visibility and market positioning. Buyers, too, are likely to view it as a gateway project into a new city-scale waterfront district.

The last GLS site sold in this vicinity dates back to April 1990, when a plot at Telok Blangah Drive fetched S$25.3 million. That site was later developed by GuocoLand into Harbour View Towers, a 30-storey condominium with 154 units, completed in 1994.

URA’s decision to roll out the new condo site at Telok Blangah Road signals the beginning of the GSW’s private residential phase. The move comes as part of the government’s broader urban renewal effort to rejuvenate the southern coastline, transforming former port land into vibrant live–work–play communities that rival international waterfront cities.

What the upcoming Telok Blangah condo offers

Accessibility is a key draw for the Telok Blangah Road site. It sits just a 5-minute walk from Telok Blangah MRT Station on the Circle Line (CCL), providing seamless connections to HarbourFront, one-north, Buona Vista, and the Central Business District. For those who drive, the site enjoys easy access to the Ayer Rajah Expressway (AYE) and West Coast Highway, ensuring smooth travel to key business and residential nodes across the island.

Retail and lifestyle options are abundant. VivoCity and HarbourFront Centre, just one stop away by train, offer extensive shopping, dining, and entertainment choices. Within the neighbourhood itself, Telok Blangah Drive is home to a local market, supermarket, hawker centre, and essential amenities.

The area also benefits from a strong connection to nature. Mount Faber Park sits directly opposite the site, linking to the Southern Ridges, a 10km green corridor that connects Telok Blangah Hill Park, HortPark, and Kent Ridge Park. Future residents can even enjoy easy access to Henderson Waves, one of Singapore’s most iconic pedestrian bridges. This combination of urban convenience and green tranquillity gives the future project a distinct lifestyle edge rarely found in new city-fringe developments.

Over the next decade, the Greater Southern Waterfront is set to reshape Singapore’s urban landscape, extending the city centre from Marina Bay to Pasir Panjang. As the first private development to break ground in this big transformation, the Telok Blangah Road condo will likely enjoy sustained interest from both homebuyers and investors looking for growth potential.

Private home demand in Telok Blangah area

Market analysts expect future private homes at Telok Blangah Road to attract upgraders from nearby mature estates like Bukit Merah and Queenstown, where HDB resale values have risen substantially. In 1Q 2025, for instance, average resale prices for 5-room flats reached S$1 million in Bukit Merah and S$1.2 million in Queenstown. These figures suggest that potential buyers from these areas could be ready to transition into the private property market.

On top of this, the project could also draw interest from professionals working in Mapletree Business City, HarbourFront, and Pasir Panjang, given its excellent accessibility to these job nodes.

PropNex’s Wong also observed that strong demand for new public housing in the area offers an early indication of buyer appetite. She cited the firm response to Berlayar Residences and Redhill Peaks in the October 2025 BTO launches, which attracted 2,927 applications for 2-room flexi units, and more than 5,500 applicants for the 4-room flats. While acknowledging the price difference between BTO and private homes, she noted that this robust interest reflects solid underlying demand for new housing in the Greater Southern Waterfront precinct.

The precinct’s focus on sustainability, walkability, and connectivity aligns with global urban trends, enhancing its long-term residential appeal. Future amenities such as waterfront promenades, community parks, and leisure facilities will further raise its profile as a desirable live–work–play district.

The post First Greater Southern Waterfront GLS site attracts 3 bids, led by Kingsford at S$1,326 psf ppr appeared first on .