Kingsford Group has secured the Telok Blangah Government Land Sales (GLS) site with a winning bid of S$918.3 million, translating to S$1,326 per square foot per plot ratio (psf ppr). This establishes an important pricing benchmark for large-scale residential developments within the Greater Southern Waterfront (GSW) precinct.
Kingsford Group’s S$918.3 million Telok Blangah acquisition establishes a critical pricing benchmark for GSW residential developments at S$1,326 psf ppr.
The site attracted a total of three bids, positioning this offering as the first private condominium plot released on the former Keppel Club grounds within the GSW core. This is a strategically notable location for future urban development in central Singapore.
The 1.36-hectare site encompasses a gross plot ratio of 4.7, permitting developers to construct up to 745 private residential units. Kingsford’s successful bid reflects substantial developer confidence in the GSW’s long-term appreciation potential and transformative growth trajectory. The strong bidding interest demonstrates how nearby successful launches bolster market sentiment and developer commitment to premium waterfront locations.
The pricing greatly exceeds previous GLS benchmarks in comparable areas; prior offerings in the Lentor district commanded bids around S$920 psf ppr, demonstrating a marked increase in market valuations for premium southern waterfront locations. The demand for well-positioned developments has been reinforced by high take-up rates at recent Lentor projects, indicating sustained buyer appetite.
The Telok Blangah acquisition represents a pivotal milestone within the government’s extensive housing supply strategy for central Singapore. This site forms part of the 1H2025 Confirmed List established by the Urban Redevelopment Authority and constitutes one of the largest unit-yield sites within the annual GLS programme.
The broader GSW precinct development encompasses approximately 9,000 new homes, combining both public and private residential components alongside planned commercial amenities and recreational infrastructure. For Singapore homeowners, proper estate planning becomes increasingly important as property assets grow in value, particularly given the complex inheritance laws governing property distribution.
Industry stakeholders anticipate that Kingsford’s project launch will set initial pricing and quality standards for subsequent GSW residential releases.
Expected new launch prices at comparable developments range between S$2,650 and S$2,750 per square foot, providing indicative market expectations for unit valuations.
The tender for this site concluded on November 4, 2025, with the project development timeline contingent upon award finalization and subsequent construction schedules.
Market participants remain attentive to Kingsford’s planned development composition, unit configurations, and product positioning strategies, viewing this initiative as the commencement of the private residential phase within the broader urban renewal framework of the Greater Southern Waterfront.
