Peck Hay Road GLS

The Urban Redevelopment Authority (URA) awarded the Peck Hay Road residential Government Land Sales (GLS) site to CDL Constellation Pte. Ltd. and Garden Estates (Pte.) Limited for $542,400,000.00, or $20,076.25 per square metre of GFA, on 16 June 2026. The tender launched on 9 April 2026 (alongside River Valley Green Parcel C) and closed on 11 June 2026, drawing four bids in total. The winning bid beat the next-highest offer, from SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd., by 8.4%.

Why This Site Matters

At $20,076.25 psm, Peck Hay Road recorded the highest per-square-metre price of any 2026 GLS award in this series (meaningfully above River Valley Green Parcel C's $18,621.77 psm, the next-highest) underscoring how much of a premium developers will pay for small, well-located District 9/10-adjacent infill sites near Newton MRT. The 8.4% winning margin, wider than most of the batch's residential tenders, suggests CDL Constellation and Garden Estates saw clear upside that the other three bidders didn't fully price in, rather than the site being valued near-identically across the field. With only 5,513.5 sqm of land and roughly 315 units, this result signals that boutique, high-value infill sites are commanding a real pricing premium over larger suburban parcels this cycle.