In a major statement of developer confidence for Singapore's East Region, UOL Group and CapitaLand Development have submitted the top bid for a massive Government Land Sales (GLS) site at New Upper Changi Road in Bedok — landing at a price that sets a striking new benchmark for the area.
Here is a breakdown of the transaction, and why it matters if you are evaluating residential real estate and new launches in the East, including Loyang Valley Residences.
UOL Group and CapitaLand Development topped the tender for the New Upper Changi Road GLS site with a bid of approximately S$1.4 billion, translating to S$1,537 per square foot per plot ratio (psf ppr).
Site Details: Located at the intersection of New Upper Changi Road and Bedok South Road — formerly home to Temasek Primary School and Temasek Secondary School. The site spans roughly 30,769 sqm with a 99-year leasehold tenure, with a potential yield of about 1,010 private residential units.
Notably, this is the first GLS site within walking distance of Bedok MRT Station and the Bedok Integrated Transport Hub to be launched in 16 years — offering a rare opportunity in a mature, established estate with virtually no new launch supply for over a decade.
To understand the significance of S$1,537 psf ppr, here is how it compares against recent Government Land Sales land rates in the East Region:
| Site | Awarded | Land Rate (psf ppr) |
|---|---|---|
| Bedok Rise (10 bids) | Dec 2025 | S$1,330 |
| Bayshore Drive (Frasers-led consortium) | Jul 2026 | S$1,323 |
| Bayshore Road (SingHaiyi–Garnet) | Mar 2025 | S$1,388 |
| New Upper Changi Road (UOL–CapitaLand) | 2026 (top bid) | S$1,537 |
At S$1,537 psf ppr, UOL and CapitaLand's bid is roughly 15.6% higher than the Bedok Rise land rate sold just months prior (which attracted 10 competing bids), and significantly above the Bayshore precinct GLS tenders. When major developers pay a 15%+ land premium in the East, it carries clear market implications.
With a land cost of S$1,537 psf ppr, construction costs, financing, and standard developer margins put the estimated breakeven for the New Upper Changi project around S$2,150–S$2,250 psf. That implies eventual selling prices will likely average S$2,400 to S$2,600+ psf when launched.
When land costs rise by 15%, overall pricing expectations across the East Region shift upward. For home seekers and investors evaluating Loyang Valley Residences (District 17 mega new launch by SingHaiyi, ~1,249 units with doorstep access to Loyang MRT CR3 on the Cross Island Line), entering an established, master-planned project before newer, costlier land sites come to market provides an advantageous cost base.
Developers are actively committing multi-billion-dollar balance sheets to the East. Coupled with major infrastructure milestones like the Cross Island Line (CRL) connecting Loyang, Pasir Ris, and Changi to key commercial hubs, the East Region continues to attract strong homebuyer demand driven by owner-occupiers and long-term investors.
A S$1.4 billion bid at S$1,537 psf ppr is a clear vote of confidence in East Region residential property. As land benchmark costs rise across District 15, 16, and 17, buyers who secure units early in high-potential East Region launches stand to benefit from regional growth and infrastructure connectivity.
Planning your property purchase in the East?
Compare land benchmarks, rental yields, and upcoming launch timelines across District 16 and District 17 with objective data.
Interested in Loyang Valley Residences or East Region options?
Loyang Valley Residences — ~1,249 luxury units at Loyang Avenue, doorstep Loyang MRT (CRL). Speak with Jet Lee for direct developer updates and floor plans.
📱 WhatsApp Jet Lee Visit Loyang Valley ResidencesHow much did UOL and CapitaLand bid for the New Upper Changi Road site?
UOL Group and CapitaLand Development submitted the top bid of approximately S$1.4 billion, or S$1,537 psf ppr, for the New Upper Changi Road GLS site in Bedok.
What was the New Upper Changi Road site used for before?
The site was formerly occupied by Temasek Primary School and Temasek Secondary School, located at the intersection of New Upper Changi Road and Bedok South Road in District 16.
How many units could the New Upper Changi Road site yield?
The site has a potential yield of about 1,010 private residential units on a 99-year leasehold tenure, covering approximately 30,769 sqm.
What does this S$1,537 psf ppr bid mean for East Region buyers and Loyang Valley Residences?
A land rate of S$1,537 psf ppr establishes a strong new pricing benchmark for the East Region, signaling future launch prices crossing S$2,400 to S$2,600+ psf. For buyers evaluating Loyang Valley Residences in District 17, it highlights the value of entering a mega new launch early before fresh land costs push regional property prices higher.