UOL Group and CapitaLand Development (CLD) submitted the highest bid of S$1.4 billion for a residential land parcel at New Upper Changi in Bedok, Singapore. The site, spanning about 30,769 square meters, can accommodate approximately 1,010 units and is bounded by New Upper Changi Road and Bedok South Road near Bedok MRT and Bedok Mall [1, 2, 3].

The bid price translates to S$1,537 per square foot per plot ratio (psf ppr), which is 13.8% higher than the second-best bid of S$1.24 billion or S$1,340 psf ppr from City Developments Ltd (CDL) and Hong Realty. This also surpasses by 15.6% the S$1,330 psf ppr paid by Allgreen Properties in November 2025 for a nearby Bedok Rise plot [1, 2, 3].

Huttons Asia CEO Mark Yip described the winning bid as a new benchmark price for a pure residential government land sale in Singapore's Outside Central Region suburbs [1].

UOL and CLD highlighted the site's exceptional location within a mature residential neighborhood with easy access to amenities, reputable schools, and recreational areas like East Coast Park. They noted the site is opposite Bedok Town Centre and within a five-minute walk of Bedok MRT station and Bedok Mall. The project targets a broad spectrum of buyers, including HDB upgraders and residents of nearby landed housing estates, with planned two- to four-bedroom units designed to keep price quantum realistic [1, 2].

The second highest bid came from CDL and Hong Realty, followed by GuocoLand, Hong Leong Holdings, and Mitsui Fudosan in third place. Sim Lian submitted a fourth bid valued at S$1.22 billion or S$1,310 psf ppr [1, 2, 3].

UOL and CLD have a history of collaboration, including their December 2025 acquisition of a Hougang site for S$1.5 billion or S$1,179 psf ppr and previous projects such as Parktown Residence in Tampines launched in February 2025, which sold almost 90% of 1,193 units at launch [1, 2].

The last pure residential government land sale above S$1 billion was a Dunearn Road plot sold in June 2022, now developed as Grand Dunearn comprising 1,008 units [1, 3].

Bedok's residential market remains strong, supported by nearly 2,300 HDB flats reaching their minimum occupation period between 2022 and 2026 and rising resale prices in the area [3].

The project now moves towards the development stage following the tender close in August 2026 with UOL and CLD's winning bid [1, 2, 3].