The Government Land Sales (GLS) site along Bayshore Road has solidified its status as one of Singapore's most keenly anticipated residential parcels, setting a new benchmark for land prices in the Outside Central Region (OCR). This 99-year leasehold plot is not merely a piece of land; it is the first private housing site within the ambitious, master-planned Bayshore Precinct, marking the beginning of a vibrant new coastal neighborhood.
Record-Breaking Tender and Developer Confidence
The tender for the Bayshore Road site, which closed in March 2025, saw intense competition, attracting eight bids from established developers—the highest number of bids for a private residential GLS site since January 2022. The confidence in the location was underscored by the winning bid of S$658.89 million, submitted by a joint venture between SingHaiyi Group and Haiyi Holdings. This translates to an eye-watering **S$1,388 per square foot per plot ratio (psf ppr)**, a record price for an OCR site and a powerful indicator of the market's strong belief in the Bayshore transformation.
This high land cost reflects several factors, including the site's rarity and desirability, given the absence of major private condo launches in the immediate area for over two decades. The site is expected to yield Bayshore Road GLS approximately 515 exclusive residential units, creating significant pent-up demand, especially from upgraders in the nearby mature estates of Marine Parade and Bedok.
Seamless Connectivity and Coastal Lifestyle
A primary driver of the site’s value is its unbeatable connectivity. The development will be seamlessly integrated with the upcoming Bayshore MRT Station on the Thomson-East Coast Line (TEL). This direct, sheltered link provides future residents with effortless access to the CBD, Marina Bay, and key educational institutions, drastically reducing commute times.
Beyond transport, the Bayshore Precinct master plan is focused on creating a car-lite, sustainable environment. The development will capitalize on its proximity to the iconic East Coast Park, offering residents unparalleled access to recreational activities, green spaces, and coastal views. The broader precinct development includes plans for pedestrian-friendly streets, new amenities, and enhanced cycling networks, promising a high-quality, resort-like living experience.
A First-Mover Advantage in a Developing Precinct
As the inaugural private residential project in the 60-hectare Bayshore estate—which will ultimately house about 10,000 homes—the Bayshore Road GLS development enjoys a crucial first-mover advantage. Future residents will benefit from the long-term infrastructure projects planned for the area, including the potential Long Island coastal protection and reclamation project that promises to add new reservoirs and waterfront parks.
The successful tender for the Bayshore Road GLS site marks a significant milestone. It signals not only the revival of the East Coast property market but also the commencement of a visionary plan to create one of Singapore’s most desirable waterfront neighborhoods, combining modern urban living with nature and convenience.
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