URA releases Bedok and Cross Street residential sites for sale
The Cross Street site may not be triggered for sale soon, while the Bedok site is expected to draw strong interest
[SINGAPORE] The Urban Redevelopment Authority (URA) launched two residential land parcels in Bedok and the Central Business District (CBD) for sale on Thursday (Sep 18).
The site at Bedok Rise can be built into 380 homes and falls under the confirmed list of the H2 2025 government land sales (GLS) programme.
The Cross Street site in the CBD, which previously housed the Market Street Interim Hawker Centre, is slated to be developed into 315 units of long-stay serviced apartments. This is a new category introduced to help meet market demand for rental accommodation. It is being released from the reserve list, which means it will only be available for sale if it receives an offer of a minimum price that is acceptable to the government.
The Bedok site, located next to Tanah Merah MRT station, is expected to draw strong interest due to the limited supply of unsold stock in the area, market watchers said. The parcel has a land area of 20,293.6 square metres (sq m) and can be built up to a maximum of 12 storeys, with a low-rise zone where developers will have to adhere to a limit of five storeys.
The last GLS site sold in the area was the Tanah Merah Kechil Link plot, which has been developed into Sceneca Residence and Sceneca Square, said PropNex’s head of research and content Wong Siew Ying.
The site drew 15 bids and was awarded to MCC Land in 2020 for S$930 per square foot per plot ratio (psf ppr). Seneca Residence sold about 60 per cent of its 160 units when the project was launched in January 2020.
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OrangeTee’s chief executive officer Justin Quek expects the Bedok site to draw between four and seven bids, with the highest between S$1,200 and S$1,300 psf ppr.
While located next to Telok Ayer MRT station, the Cross Street site may not be triggered for sale soon, as long-stay serviced apartments are still an untested product, Wong said, when the site was first unveiled in June 2025.
To date, the only GLS site with long-stay serviced apartments to be awarded is a site in Zion Road which City Developments Limited and Mitsui Fudosan bought for S$1.1 billion or S$1,202 per square food per plot ratio (psf ppr) in April 2024. The site near the prime River Valley neighbourhood can house up to 1,170 residential units, including 435 serviced apartments. The project, Zyon Grand, is expected to be launched in Q4.
An Upper Thomson site for long-stay serviced apartments had no takers when the tender closed last June.
In October 2024, URA deemed as too low the sole bid of S$461 psf ppr by a Frasers-led consortium for a 60-year leasehold long-stay serviced apartment site in Media Circle.
The Cross Street site is split into a low-rise zone where developers can build up to four storeys and a high-rise zone that can be built up to 30 storeys.
The tender for the Bedok Rise site will close on Nov 27.
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