The first government land sale (GLS) plot offered out of the former Keppel Club site received only three bids at a tender that closed on 4 November 2025 (Tuesday). The bid prices were within expectations but property analysts had expected at least five bids for this plum site in The Greater Southern Waterfront region. This Telok Blangah Road GLS land parcel is just a short walk from Telok Blangah MRT (Circle Line) and one stop away from HarbourFront MRT providing excellent connectivity to its future residents.
Kingsford Group placed the top bid of S$918.3 million or about S$1,326 per square foot per plot ratio (psf ppr) for the 99-year leasehold private housing site, which can yield about 745 private homes. The second-highest bid was S$880 million or about S$1,271 psf ppr from a tie-up between GuocoLand and Intrepid Investments and the third bid of S$863.26 million (or S$1,246.49 psf ppr) was from a consortium comprising Frasers Property, Metro Holdings and Soilbuild Group Holdings.
"The tight range of approximately 6% price difference by the top three bidders reflect confidence in the market sentiment for Singapore's real estate in 2027" said Kiwi Lim, Associate Group Director of PropNex Realty.
The Former Keppel Golf Course Site (also referred to as the former Keppel Country Club / Keppel Club site) is launched via the Government Land Sales (GLS) programme and is part of the government’s plan to transform Singapore’s southern coastline under the The Greater Southern Waterfront (GSW) vision.
The GLS land parcel located along Telok Blangah Road is earmarked for private housing and is the first such residential site in this precinct. Being part of the The Greater Southern Waterfront redevelopment means this site is poised to become a major city-fringe, lifestyle-oriented district with waterfront living, jobs and amenities.
The Greater Southern Waterfront, which extends from Pasir Panjang to Marina East, will be transformed into a new major gateway and location for urban living along Singapore’s southern coast. Development will take place in phases, starting with the former Pasir Panjang Power District, Keppel Club and Mount Faber in the next 5 to 10 years.
The last condo project launched in the vicinity was The Reef at King's Dock, a 99 year leasehold - 429 private residential unit waterfront condo along Harbourfront Avenue occupying 284,266 sqft of land space developed by Mapletree Investments and Keppel.
The Reef at King's Dock is steeped in rich history named from its location at King’s Dock, a site that has contributed significantly to Singapore’s position as a maritime hub. When it opened in 1913, the dry dock, located in Keppel Harbour, was declared the second-largest dock in the world.
Besides housing facilities, the deck has the added function of preserving King’s Dock’s marine ecosystem harvesting corals from King’s Dock and transplanted back to the deck where they can be viewed from the marine viewing hammock installed at one end. In addition to the deck, The Reef at King's Dock offers a range of facilities, including function rooms, gym, fitness studio, tennis court, playground and several gardens pavilions, including sky terrace roof gardens.
"Residents at The Reef at King's Dock have access to a floating pool deck — the first of its kind for residential properties in Singapore sitting on a 180m-long pontoon that is moored to the wall. Featuring three interconnected sections housing the condo’s swimming pools, including a 50m lap pool, this one of a kind floating deck in Singapore is truly an engineering feat" said Kiwi Lim who also owns a unit there.
Source: Edgeprop
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