New Upper Changi Road GLS 2026

New Upper Changi Road GLS site sold for $1.425B to a UOL, CapitaLand & SingLand JV. See the winning bid, site specs and the ~1,010-unit development plan.

The New Upper Changi Road Government Land Sales (GLS) site, a pure residential parcel in mature Bedok within walking distance of the Bedok integrated transport hub, has been awarded to United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd. for $1,425,388,000, or $16,544.65 per square metre of GFA (about $1,537 psf ppr), the Urban Redevelopment Authority (URA) announced on 4 September 2026.

The site was launched for tender on 15 May 2026 under the 1H 2026 GLS Confirmed List. Tender closed on 1 September 2026 with four bids, and the award followed three days later. The winning entity is a 50:50 consortium between CapitaLand Development and UOL Group, with UOL's subsidiary Singapore Land Group (SingLand) holding a share through the UVD (Daisy) vehicle. Their bid cleared the second-highest offer, from City Developments and Hong Realty at $1.252B, by 13.8%.

Why This Site Matters

At $1,537 psf ppr, New Upper Changi Road sets a new land-rate record for a pure residential GLS site in the Outside Central Region (OCR). That is 10.7% above the previous benchmark of $1,388 psf ppr at Bayshore Road (now Vela Bay) and 15.6% above the $1,330 psf ppr paid for Bedok Rise in December 2025. At $16,544.65 psm, it also prices 16.2% above the Bayshore Drive GLS site ($14,243.83 psm), although that parcel is mixed-use and has a very different bidder profile. The quantum is also the highest ever paid for a pure residential GLS site, ahead of the $1.284B for Dunman Road (now Grand Dunman) in 2022.

The top bid was well above the field. The other three bids clustered between $1,310 and $1,350 psf ppr, and analysts had projected $1,250 to $1,450. A margin that wide signals strong conviction in the site: Bedok is the second-largest planning area by population (nearly 275,000 residents), and the last major condo launch in the immediate area was Bedok Residences in 2011. Analysts' early estimates put future selling prices between roughly $2,850 and $3,200 psf, with the consortium indicating a 2- to 4-bedroom mix to keep total quantum manageable. These are third-party projections, not confirmed pricing.