Following an intensely contested state tender that closed on November 27, 2025, the Bedok Rise residential site attracted 10 bids from developers. Allgreen Properties emerged as the successful bidder at S$464.8 million, a figure translating to approximately S$1,330 per square foot per plot ratio and exceeding market analyst expectations that had ranged between S$1,100 and S$1,300 psf ppr.
Allgreen’s winning bid of S$1,330 psf ppr surpassed analyst expectations, signaling strong developer confidence in Bedok’s residential market.
The Kuok group-backed developer narrowly edged out Hoi Hup Realty, which submitted the second-highest offer at S$462.8 million. This is equivalent to approximately S$1,324 psf ppr.
A consortium comprising ABR Holdings, LWH Holdings, Macly Capital, and RP Ventures secured third position with a bid valued at approximately S$1,291 psf ppr, totaling S$451.3 million. The competitive field included heavyweight participants such as Hong Leong group, CapitaLand Development, Frasers Property, and UOL. This demonstrates notably strong market appetite for the parcel.
The 20,293.6-square-metre site can accommodate approximately 380 private condominium units under a 99-year leasehold tenure. It carries a maximum building height restriction of 12 storeys overall, with a low-rise zone capped at five storeys. The site was released as part of the H2 2025 GLS confirmed list by URA.
The parcel’s strategic positioning adjacent to Tanah Merah MRT station contributed considerably to developer interest. This is particularly relevant given the station’s planned conversion to an interchange connecting the East-West Line to the Thomson-East Coast Line, which will enhance future connectivity to Changi Airport and the planned Terminal 5. The site is widely considered the last greenfield parcel near Tanah Merah MRT in the vicinity.
Market observers noted that the site represents the last remaining Government Land Sales parcel offering doorstep MRT station access in the area. Its proximity to Changi Airport and Changi Business Park employment centers adds to its appeal.
The winning bid was positioned below the S$1,388 psf ppr achieved at an earlier Bayshore parcel sale but was substantially above the S$930 psf ppr recorded at the November 2020 Tanah Merah Kechil Link tender, which subsequently became Sceneca Residence and Sceneca Square. The high land acquisition costs from the competitive bidding process will likely translate into premium launch prices for the future development, as developers typically factor these expenses into their pricing strategies.
The robust bidding activity reflected underlying market conditions characterized by limited unsold private stock in Bedok. There are approximately 2,000 unsold units across the Outside Central Region, the lowest inventory among market segments.
District 16 median prices have increased 45.3 percent from S$1,126 psf in 2020 to S$1,636 psf during the first eight months of 2025. This underscores persistent demand in the locale.
