Senja Close Gls Site Launched Tender
An executive condo (EC) site located at Senja Close has been recently put up for sale, measuring 109,354 square feet. Part of the 1H2025 GLS programme, the site is expected to yield around 295 EC units, according to URA.
This marks the first development site in the 1H2025 GLS programme to be launched for sale by the government, as mentioned by Wong Siew Ying, head of research and content at PropNex Realty. She also adds that this site is the first of a trio of EC land parcels on the Confirmed List to be launched, with the other two plots, Woodlands Drive 17 and Sembawang Road, expected to be put up for sale in April and May respectively.
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Wong predicts that the Senja Close site will attract strong interest from developers due to the potential high demand for EC units in the area. She notes that there has not been a new EC project launched in this vicinity for over a decade.
Most recently, the only GLS site awarded in the area was in 2010, which has since been developed into the 602-unit Blossom Residences at Segar Road. The top bid of $271 per square foot per plot ratio (psf ppr) was submitted by Grand Isle Holdings, a subsidiary of City Developments (CDL).
As the availability of new EC units across the island is scarce, this has propelled the demand in the EC market, says Eugene Lim, key executive officer at ERA Singapore. He also comments that there are currently fewer than 150 EC units available across five projects in Singapore. “Despite two other projects at Plantation Close and Jalan Loyang Besar set to be launched this year, the incoming supply might still fall short of demand.”
Lim believes that developers will submit highly competitive bids for the Senja Close GLS site, as ECs have proven to be a popular choice for buyers. This can be attributed to their comparatively more affordable pricing as well as the ABSD remission for Singaporean purchasers.
OrangeTee & Tie’s CEO, Justin Quek, also notes that close to 9,000 four- and five-room flats in nearby HDB towns like Bukit Panjang and Choa Chu Kang will complete their minimum occupation period (MOP) this year, potentially contributing to the number of HDB upgraders entering the EC market.
Wong predicts that there will be five to six bids for the Senja Close site, given its manageable land size which could be attractive to developers. She also estimates that the top bid will likely come in at around $230 million to $235 million, translating to $700 to $715 psf ppr.
On the other hand, Quek anticipates two to four bidders for the site, with the highest bid expected to be between $600 to $680 psf ppr. He also expects higher interest in the upcoming sites at Woodlands Drive 17 and Sembawang due to their locations which are closer to main MRT stations and amenities.
The closing date for the tender of the Senja Close site is on Aug 5.