The tender for the New Upper Changi Road GLS site closed on 1 September with 4 bids. A consortium of CapitaLand Development, UOL Group and Singapore Land Group topped it at $1.43 billion, or $1,537 psf per plot ratio.
That single number rewrites the price map for the east. It is the highest sum ever paid for a pure residential GLS site in Singapore. And it becomes a mega condo of an estimated 1,010 units, right beside Bedok MRT.
Here is what happened, and what it means if you own or want to buy a Bedok condo.
The 99-year leasehold plot sits on New Upper Changi Road, within walking distance of the Bedok integrated transport hub. That hub combines Bedok MRT station and the bus interchange, with Bedok Mall and Heartbeat @ Bedok next to it.
The site measures 331,198 sq ft with a maximum gross floor area of 927,362 sq ft. That supports about 1,010 units, which puts the project in the mega condo class that Grand Dunman and Treasure at Tampines belong to. Bedok’s town centre has never had one.
The consortium has already signaled its strategy. Units will run from 2 to 4 bedrooms, sized to keep the total price quantum realistic. No sprawling penthouses driving headlines. This project is aimed squarely at families and HDB upgraders.
The same 3 partners launch Thomson Reserve, a 1,268-unit project on Bright Hill Drive, in mid-October. Bedok is their next act after that.
4 developers showed up. Only 1 came to win.
| Rank | Tenderer | Bid | PSF PPR |
| 1 | CapitaLand Development, UOL Group, Singapore Land Group | $1,425,388,000 | $1,537 |
| 2 | City Developments and Hong Realty | $1,252,000,000 | $1,350 |
| 3 | GuocoLand, Hong Leong Holdings and TID | $1,242,664,619 | $1,340 |
| 4 | Sim Lian Group | $1,215,000,000 | $1,310 |
The winning bid is 13.8% above the next offer. The other 3 bids sat in a tight band between $1,310 and $1,350 psf ppr. Analysts had projected $1,250 to $1,450. The winners went past the top of that range on purpose.
The bid breaks 2 records at once. In absolute terms, $1.43 billion beats the $1.284 billion paid for the Dunman Road site in June 2022, which became the 1,008-unit Grand Dunman. On land rate, $1,537 psf ppr is a new high for a pure residential GLS site outside the central region, beating the $1,388 psf ppr paid for the Bayshore site that became Vela Bay in March 2025.
For context, Allgreen paid $1,330 psf ppr for the Bedok Rise site beside Tanah Merah MRT just 9 months ago. Land in the east is repricing fast, a trend we tracked in our 2026 GLS land bids breakdown.
Bedok is home to almost 275,000 residents, the 2nd-largest population of any planning area in Singapore. Yet around Bedok MRT itself, buyers have had exactly 1 new project to choose from since 2011: Sky Eden @ Bedok, with just 158 units. It launched in September 2022 at around $2,100 psf and sold out.
Before that, the last town-centre launch was Bedok Residences in 2011, the 583-unit project above Bedok Mall. It launched at around $1,300 psf. Resale deals there averaged $1,757 psf over the last year.
The rest of the district’s new supply landed 1 MRT stop away. Sceneca Residence added 268 units at Tanah Merah at about $2,070 psf, and sold out too.
The new site delivers 1,010 units in 1 launch. That is more town-centre supply than the past 15 years put together, and over 6 times what Sky Eden offered.
Here is how the neighborhood trades today, from newest to oldest:
| Project | Units | Median PSF (2026) | Status |
| Vela Bay | 515 | $2,863 | Launched Apr 2026, over 74% sold |
| Sceneca Residence | 268 | $2,312 | Completed 2026, sold out |
| Sky Eden @ Bedok | 158 | $2,404 | Completed 2025, sold out |
| Grandeur Park Residences | 720 | $2,030 | Completed 2020 |
| Urban Vista | 582 | $1,623 | Completed 2016 |
| The Glades | 726 | $1,731 | Completed 2016 |
| Bedok Residences | 583 | $1,824 | Completed 2015 |
Every recent launch in this pocket sold out. That is the demand signal the consortium paid a record price for.
Land rate and selling price are not the same number. The bid is measured per square foot of gross floor area. Selling prices are measured per square foot of strata area, and a developer only gets to sell about 80% of the floor area it builds.
Run that conversion and the land alone costs the developer roughly $1,920 per sellable square foot. That is before construction, financing, marketing and profit.
This is why analyst estimates for the launch cluster where they do. PropNex and Delasa see average prices above $2,900 psf. CBRE projects $2,850 to $2,950 psf. Knight Frank goes further, at $3,100 to $3,200 psf.
The east has already run this experiment 3 times. Each time a site sold, the launch that followed priced at about 2 times the land rate:
| Project | Land PSF PPR | Launch pricing |
| New Upper Changi Road (2026) | $1,537 | Est. $2,850 to $3,200 psf |
| Bedok Rise (2025) | $1,330 | Launching 2027 |
| Vela Bay (2025) | $1,388 | $2,863 psf median |
| Grand Dunman (2022) | $1,350 | ~$2,560 psf average |
| Sceneca Residence (2020) | $930 | ~$2,070 psf average |
Sceneca launched at 2.2 times its land rate. Vela Bay at 2.1 times. Apply the same multiple to $1,537 and you land between $2,900 and $3,200 psf. The analyst estimates are not guesses. They are this table, extended by 1 row.
A realistic base case: a 3-bedroom unit of around 950 sq ft at $2,900 psf lands near $2.76 million. The 2 to 4-bedroom mix exists precisely to keep quantums in reach of upgraders even at record psf.
Our Vela Bay price analysis walked through the same math when Bayshore set the previous record. Sitting out a new benchmark rarely made the next one cheaper.
Wondering what this launch does to your own buying or selling plans in the east? Message me on WhatsApp and I will run the numbers for your situation.
The buyer pool for this project mostly lives within 2 km of it already.
Bedok recorded 755 HDB resale transactions in the first 7 months of 2026. Of those, 44 crossed $1 million, more than the 39 recorded in the whole of 2025. Bedok is a mature town where many flats and landed homes are fully paid off.
The pipeline behind that is bigger. More than 9,500 four-room and five-room flats in Bedok and Tampines reach their minimum occupation period between 2026 and 2029. Each one is a potential upgrader household, a dynamic we mapped in Where Singapore’s HDB Upgraders Are.
Add right-sizers from the landed estates in Siglap and Opera Estate, and spillover demand from Tampines next door. The catchment is deep, local and liquid.
If you were waiting for a launch in central Bedok, this is the one. Expect a 2028 launch if the usual runway from award to sales holds. Watch how Thomson Reserve prices in October for a read on how this consortium positions a mega project.
If you own a resale condo nearby, a $2,900+ psf launch resets the reference price above you. Grandeur Park Residences at $2,030 psf, The Glades at $1,731 psf and Urban Vista at $1,623 psf will look inexpensive beside it. Sellers gain a stronger anchor. So do owners at Sky Eden and Sceneca, which sold at $600 to $800 psf below the projected launch level.
If you are an HDB upgrader in Bedok or Tampines, you now have a choice to make. Buy resale at today’s prices, or wait 2 years for a brand-new project at a record psf. The 2H 2026 GLS programme has more sites coming, but none of them sit beside Bedok MRT. You can track future tenders on the URA GLS site list.
There is no rule that says record land bids must work out. Developers overpay sometimes. But 4 serious bidders, sold-out comparables and 15 years of pent-up supply make this a confident bet, not a reckless one.
The site sits on New Upper Changi Road in Bedok, District 16, within walking distance of Bedok MRT station, the bus interchange and Bedok Mall. It is a 99-year leasehold plot of 331,198 sq ft.
No date is set. The site was only tendered on 1 September 2026 and the award is pending. Projects of this size typically launch 12 to 18 months after the land is awarded, which points to late 2027 or 2028.
Analysts project average prices from $2,850 to $3,200 psf. The developers have said units will run from 2 to 4 bedrooms to keep total prices realistic. A 3-bedroom unit would likely start above $2.5 million at those levels.
It depends on your budget, timeline and lease priorities. Resale projects like Grandeur Park Residences and The Glades trade $900 to $1,300 psf below the projected launch price, but carry older leases. Talk to us before deciding on numbers alone.
Bedok just moved from sleepy to strategic in a single tender. A record $1.43 billion bid, a 1,010-unit mega condo beside an MRT interchange, and a buyer pool of 275,000 residents who have been offered 158 new town-centre units in 15 years.
Prices above $2,900 psf will feel high for Bedok. They felt high at Bayshore too, and Vela Bay moved over 74% of its units anyway. The east keeps proving that well-located supply finds buyers.
Our advice: do not wait passively for 2028. Understand what the repricing does to the resale market around the site now, because that market moves first. Thinking of buying or selling in District 16 before this launch lands — reach out on WhatsApp and let’s map your move before the crowd arrives.
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