The Urban Redevelopment Authority (URA) has awarded the tender for the site at Bayshore Drive on 20 July 2026 to the highest tenderer, Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd.
The tender for the Bayshore Drive GLS site closed previously on 15 July 2026, drawing a total of three bids from developers. First launched on 30 March 2026 under the 1H2026 Government Land Sales (GLS) programme, the site saw its highest offer come in at S$2.128 billion, translating to a land rate of approximately S$1,323 psf per plot ratio (psf ppr).
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Three bids received for the Bayshore Drive GLS site
| Ranking | Tenderer | Tendered sale price | Approximate land rate |
|---|---|---|---|
| 1 | Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. | S$2.128 billion | S$1,323 psf ppr |
| 2 | Chiron Bay Pte. Ltd. and Chiron Bay Investments Pte. Ltd. | S$2.011 billion | S$1,250 psf ppr |
| 3 | Breeze Residential Pte. Ltd. and Breeze Commercial Trustee Pte. Ltd. | S$1.986 billion | S$1,235 psf ppr |
The tender attracted three bids that fell within a relatively narrow range, suggesting that the tenderers had broadly similar views of the site’s value.
The highest offer of S$2.128 billion from Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd., a Frasers-led consortium, was around 5.8% above the second-place bid of S$2.011 billion. The third bid of approximately S$1.986 billion was about 6.7% below the top offer.
Market experts noted that the relatively small number of bids could partly reflect the scale and complexity of the development. As the site is expected to include an integrated transport hub, it may require substantial resources and coordination, making a joint-development structure more practical.
Tenderers may also have considered the nearby residential site at New Upper Changi Road. As both plots could add a significant number of homes to the area, their future developments may compete for buyers should their launches take place within a similar period.
A landmark development within the new Bayshore precinct
Located within the emerging Bayshore estate, this GLS site is poised to play a central role in shaping the district’s growth. The Bayshore Drive plot spans 57,460.6 square metres and allows for a maximum gross floor area of 149,398 square metres, translating to a potential yield of around 1,280 homes. At this scale, the development is not just about adding housing supply — it is likely to influence how the precinct evolves, particularly in its early stages.
The future Bayshore Drive development will be built directly above the Bedok South MRT Station, and will incorporate a bus interchange alongside a sizeable retail component that is similar in size to White Sands Shopping Mall in Pasir Ris. With commercial space of up to 22,500 square metres, the retail component is expected to serve both residents and the wider Bayshore and Bedok South areas, where retail offerings are currently limited.
According to the consortium, Frasers Property, Sunway MCL, Sekisui House and Lum Chang will jointly develop the residential component, while the retail component will be developed and fully owned by FCT, Sunway MCL and Sekisui House.
While the broader precinct will see multiple residential projects come onstream over time, this mixed-use development is likely to take on the role of a central hub, bringing together transport connectivity, retail offerings, and daily conveniences. As an integrated transport node, the Bayshore Drive development is expected to become a key landmark within the Bayshore waterfront precinct.
The East Coast itself has consistently been one of the more desirable residential areas in Singapore, particularly among owner-occupiers and HDB upgraders who want to remain within the region. With limited new supply in recent years, projects in this area tend to attract strong interest when they are launched.
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Part of a larger Bayshore transformation: 12,500 homes in the pipeline
The Bayshore Drive GLS site forms part of a much broader transformation taking place along Singapore’s East Coast. It is the second GLS plot released within the new Bayshore precinct, a planned 60-hectare waterfront estate that is expected to accommodate around 12,500 homes across both public and private housing, alongside lifestyle and community amenities.
With the potential to deliver about 1,280 private homes, the future Bayshore Drive development will account for a substantial portion of the estimated 3,000 private units planned for the precinct. Its importance is further underscored by its positioning as the only mixed-use site within the Bayshore waterfront neighbourhood under the Master Plan 2025.
Previously, the Bayshore Road GLS site, which was the first residential parcel introduced in the precinct, drew strong interest with eight bids when it closed in March 2025. The top bid, submitted by a SingHaiyi-led consortium, came in at S$1,388 psf ppr, setting a new benchmark for residential land prices in the Outside Central Region. The project on that site, Vela Bay, will comprise around 515 units and is expected to launch in April 2026.
Public housing has also begun to take shape in the area. During the October 2024 Build-To-Order exercise, two “Plus” projects — Bayshore Palms and Bayshore Vista — were introduced, offering a combined total of more than 1,400 flats in the new housing precinct.
Beyond the immediate neighbourhood transformation, the East Coast will also benefit from the proposed Long Island Project. This large-scale initiative aims to safeguard Singapore’s southern coastline from rising sea levels while creating new land along the East Coast. If implemented, the Long Island project could introduce new waterfront parks, reservoirs and recreational spaces stretching along the coastline.
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About Ananda Bayu
Ananda has been wrangling Singapore's complex real estate trends into readable bites since 2020. She writes like she's explaining it to a friend over kopi — because who has time for jargon? When off the clock, she’s probably doom-scrolling through cat memes on X, convincing herself it's the highest tier of "creative inspiration".
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