Government Land Sale (GLS) Sites Analysis – Berlayar Drive GLS site

The tender for the Government Land Sale (GLS) site at Berlayar Drive closed on 4 August 2026. GuocoLand Limited and Hong Leong Group submitted the sole bid of $576.8 million or $1,515 psf ppr.

Despite attracting only a single bid, the site set a new benchmark for residential GLS sites in the Rest of Central Region (RCR). This surpassed the previous record of $1,455 psf ppr achieved by the Tanjong Rhu Road GLS site that was awarded in February by 4.1%.

The sole bidder appears to recognise the long-term potential of the emerging Berlayar and Keppel precincts, supported by planned public and private housing, new amenities and broader master-planned developments. Its proximity to the established Bukit Merah and Telok Blangah town centres also provides immediate access to mature amenities, which could deliver immediate value to early movers.

The participation of only one bidder could also be because another GLS site along Berlayar Close will be put up for tender in December. Arguably, this site is in a better location due to its closer proximity to Telok Blangah MRT station. Developers could be keeping their powder dry for the soon-to-be-launched site.

The 14.3% difference between the top bid of $1,515 psf ppr for the Berlayar Drive site and the winning bid of $1,326 psf ppr for the nearby Telok Blangah Road GLS site suggests that developers continue to recognise the value of established city-fringe neighbourhoods with potential for long-term capital appreciation.

As the sites are part of the Berlayar estate, both sites stand to benefit from the long-term transformation of the Greater Southern Waterfront (GSW). 

Table 1: Bidders for the Berlayar Drive GLS site

1.0         Site Details  

Table 2: Details of Berlayar Drive GLS 

Map of Berlayar Drive GLS site

The Berlayar Drive GLS site has a relatively regular site configuration, which could potentially provide developers greater flexibility in planning efficient building layouts, landscaping and facilities, while maximising the surrounding waterfront and green spaces. 

The site will be the second private residential development within the Berlayar estate. Hence, it is well-positioned to benefit from the long-term transformation of the Greater Southern Waterfront and the gradual development of Berlayar.

Greater Southern Waterfront and Berlayar Estate

Greater Southern Waterfront (GSW) is one of Singapore's largest and most significant long-term urban transformation projects. Stretching from Pasir Panjang to Marina East, the GSW is envisioned as a mixed-use waterfront district comprising new residential neighbourhoods, commercial developments, lifestyle destinations and recreational spaces.

The Berlayar estate is planned to accommodate around 10,000 new homes, comprising approximately 3,000 private residential units and 7,000 public housing flats. As the estate takes shape over time, the growing residential population is expected to support a wider range of amenities and lifestyle offerings, enhancing the attractiveness of the neighbourhood.

2.0         Locational Attributes 

Overview
The Berlayar Drive GLS site is located within District 4 in the Bukit Merah Planning Area. With a site area of about 25,263 sqm and a maximum GFA of 35,369 sqm, the site has the potential to yield around 415 private residential units. 

Connectivity
The site enjoys excellent connectivity due to its proximity to Telok Blangah MRT station on the Circle Line (CCL) which is only one stop away from HarbourFront Interchange station (Circle and North-East lines). The recent completion of the circle will provide future residents a short and seamless commute to the CBD. The Circle Line will also connect them to other key employment nodes such as one-north and Paya Lebar.

In addition, the area is well served by the Ayer Rajah Expressway and major roads, ensuring easy road connectivity to the whole island.

Neighbourhood Amenities
The Berlayar Drive GLS site enjoys close proximity to an extensive range of lifestyle amenities. Residents will have convenient access to major retail, dining and entertainment destinations such as VivoCity and Sentosa. 

Families with school-going children will also appreciate that there are several schools within a 2km radius, including Blangah Rise Primary School, Radin Mas Primary School and CHIJ St. Theresa's Convent.

Lifestyle and Recreation
The site is surrounded by several established green and waterfront corridors, such as Labrador Nature Reserve, Berlayar Creek and The Southern Ridges. Future planned parks and waterfront promenades under the GSW masterplan are expected to increase the precinct’s recreation options, enhancing the future development’s appeal to buyers seeking an exclusive waterfront home with easy access to nature and the city.

3.0         Price and Market Trends

From 2022 to 1H 2026, the median price of non-landed private homes in Bukit Merah planning area increased by 11.7%, compared to 21.3% for the Rest of Central Region (RCR). While the price growth for condominiums in Bukit Merah was lower than that for the broader RCR, the ongoing GSW transformation could provide a catalyst for the area and bolster long-term capital appreciation.

Chart 1: Median Prices of Non-Landed Private Homes 

4.0         Potential Demand/Buyer Profile

Nearby mature HDB estates such as Bukit Merah and Queenstown provide a sizeable upgrader pool. For the first half of this year, these two estates recorded a combined total of 240 million-dollar HDB resale transactions, accounting for around 27% of million-dollar HDB resale transactions islandwide. The high resale price fetched by these HDB flats could support potential upgrader demand. 

Apart from HDB upgraders, the future development is expected to appeal to owner-occupiers seeking a city-fringe home that balances easy connectivity to the city with proximity to amenities, nature and the sea.

 The project is also expected to appeal to investors seeking a stable rental stream as it is located near Telok Blangah MRT station which is only five stops away from Marina Bay MRT station as well as one-north MRT station.

5.0         New Private Housing Supply Pipeline

The Berlayar estate is expected to see a steady pipeline of new private housing supply over the coming years, with a total of 1,855 private residential units planned across three GLS sites. If the sites are successfully awarded, the condominium units from these sites will account for approximately 62% of the 3,000 private homes that are planned for Berlayar.

Unsuccessful bidders might set their sights on the Berlayar Close site that will be launched in December. 

Table 3: Upcoming Supply Pipeline within the Berlayar Estate

Conclusion

Despite persistent geopolitical tensions and the uncertainties, Singapore's economy has remained resilient. The Ministry of Trade and Industry (MTI) has retained its 2026 GDP growth forecast of 2% to 4%, reflecting confidence in the country's economic outlook. More recently, Singapore's economy grew by 5.7% year-on-year in 2Q 2026.

Supported by steady economic growth, low unemployment and declining interest rates, demand in Singapore's residential property market has remained healthy. This has been reflected in the strong sales achieved by several recent new condominium launches. With new home demand remaining robust, GLS sites with attractive locational attributes are expected to draw keen interest from developers looking to replenish their land banks.