Allgreen Tops Ten Bids Bedok Rise Gls Site 1330 Psf Ppr
Highly Competitive Bidding for Bedok Rise GLS Site
Allgreen Properties, a developer under the control of the Kuok family, recently won the bid for the Bedok Rise government land sale (GLS) site with an offer of $464.8 million, which translates to $1,330 per square foot per plot ratio (psf ppr). This tender, closing on November 27, witnessed participation from ten bidders, indicating a robust interest in the site.
With a slight margin, Allgreen’s bid surpassed the second-highest bid by Hoi Hup Realty, which was $462.8 million ($1,324 psf ppr). Other notable bids included those from a consortium of ABR Holdings, LWH Holdings, Macly Group, Roxy-Pacific Holdings, as well as joint ventures between Hong Leong Holdings, Hong Realty, TID, and Wing Tai Holdings.
Strategic Location and Developer Interest
Industry experts attribute the high level of developer interest in the Bedok Rise site to its prime location next to Tanah Merah MRT Station, which is expected to become an interchange connecting to the Thomson-East Coast Line. This key transport upgrade enhances the site’s attractiveness significantly.
Similar to other sought-after developments such as the Miltonia Close EC, the strategic positioning near major transport links plays a crucial role in attracting both developers and potential homeowners due to the convenience and increased property value such locations typically offer.
Market Dynamics and Future Projections
Alice Tan from Knight Frank Singapore notes that the surge in new home sales, with over 10,000 units sold in the first ten months of 2025, has spurred developers to ramp up their land acquisition strategies. This trend is evident in the strong bidding seen in areas outside the central region, which continue to anchor the new home sales segment, according to Mohan Sandrasegeran from SRI.
The 99-year leasehold residential site at Bedok Rise spans 218,438 square feet and is expected to house about 380 residential units. This plot represents the last parcel of land available directly fronting the Tanah Merah MRT Station. Its development potential is comparable to recent projects like Sceneca Residence, which saw a rapid uptake of units during its launch phase.
Expectations for the New Development
Insights from market experts suggest that the forthcoming residential project at Bedok Rise could attract a mix of landed property owners and HDB upgraders, primarily due to its modern amenities and excellent connectivity. SRI’s Sandrasegeran predicts that the launch prices for this new project could range between $2,600 and $2,700 psf, strategically positioning it in a competitive market while reflecting the site’s inherent advantages and current market conditions.
This development is likely to be the only new launch in the East region once it becomes available, appealing to buyers looking for well-connected, amenity-rich living spaces.