New East Coast Landmark: Bayshore Mixed-Use Site Launched for Tender

URA Launches Bayshore Drive Mixed-Use Site: Poised to Become the East's Next-Generation Landmark

The Urban Redevelopment Authority (URA) has officially launched the tender for a mixed-use commercial and residential site along Bayshore Drive under the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold plot spans approximately 616,506 sq ft, with a maximum gross floor area (GFA) exceeding 1.6 million sq ft.

Development Blueprint: Integrated Residential and Commercial Hub

Under planning guidelines, the site can be developed into a mega integrated development comprising approximately 1,280 residential units and around 242,190 sq ft of commercial space.

The project will offer direct, sheltered connectivity to the upcoming Bedok South MRT station on the Thomson-East Coast Line (TEL), integrating a bus interchange and retail facilities into a seamless transport hub.

Market observers note that this development is set to become the defining landmark of the Bayshore precinct.

Precinct Positioning: A New Growth Catalyst in the East

This site stands as the only mixed-use commercial and residential plot within the Bayshore precinct (according to the URA Master Plan 2025).

Looking ahead, the entire Bayshore precinct is envisioned to transform into a vibrant new residential enclave yielding approximately 10,000 homes across both public and private housing segments.

As transport and civic infrastructure progressively take shape, the area is primed to become the East's premier residential and lifestyle hub.

Educational and Lifestyle Amenities

In terms of surrounding amenities, the site enjoys mature educational and lifestyle resources. It is situated within 1 km of Temasek Primary School and Temasek Secondary School.

Established shopping malls such as Bedok Mall and Parkway Parade are also just a short drive away.

Analysts believe that the commercial component within the development will effectively bridge the gap and consolidate the precinct's currently dispersed retail amenities.

Land Scarcity: Limited Development Opportunities

This marks only the second GLS land parcel rolled out in the Bayshore precinct.

The previously launched residential parcel along Bayshore Road attracted eight bids when its tender closed in March last year. It was ultimately awarded to SingHaiyi at $1,388 psf ppr, setting a new benchmark land rate for Outside Central Region (OCR) residential land.

That site is slated to launch as Vela Bay (approx. 515 units) in the second quarter of 2026.

Market watchers widely agree that its launch performance will serve as a critical pricing and demand benchmark for this latest Bayshore mixed-use site.

Demand Drivers: Strong HDB Upgrader Base

Property analysts highlight that primary demand for the Bayshore project will stem from HDB upgraders.

Transaction data reflects continued price resilience across Bedok and Tampines HDB estates:

• In Bedok, 4-room flats average around $860,000, while 5-room flats exceed $1 million

• In Tampines, 4-room flats average around $770,000, while 5-room flats command approximately $915,000

Furthermore, between 2026 and 2028, more than 8,000 4-room and 5-room flats will reach their Minimum Occupation Period (MOP), providing a substantial and steady stream of upgrading demand for the private residential market.

Substantial Capital Outlay May Prompt Joint Bids

While the site holds undeniable appeal, its large scale and development complexity present higher financial barriers.

Analysts estimate that the total development cost could easily exceed S$1 billion, possibly nearing S$2 billion. Consequently, developers are expected to pool resources and form joint venture consortiums. The tender is anticipated to draw three to four bids. Amid rising OCR land costs and the premium value attributed to the commercial element, the top bid could potentially surpass the previous record of $1,388 psf ppr.

Market Outlook: Demand Remains Resilient

Despite prevailing global macroeconomic and geopolitical uncertainties, underlying market demand remains sound.

Recent launches such as Rivelle Tampines and Pinery Residences both posted impressive take-up rates of around 92%, highlighting sustained buyer confidence.

Market consensus suggests that well-located developments offering comprehensive amenities and strong connectivity will continue to see resilient demand.