Berlayar Drive Sets an RCR Record at $1,515 psf — On a Single Bid

7 August 2026Blog District 4 RCR

The Berlayar Drive land sale site, outlined in red between Berlayer Creek and Keppel Bay

On 7 August the Urban Redevelopment Authority awarded the Berlayar Drive site to Intrepid Investments — a Hong Leong Holdings company — and GuocoLand (Singapore), for $576,778,554.

That works out at $1,515 per square foot per plot ratio, and it is a record: the highest land rate ever paid for a residential government land sale site in the Rest of Central Region, ahead of the $1,455 psf ppr set at Tanjong Rhu Road in February, by about 4.1% — the comparison ERA Singapore’s chief executive Marcus Chu drew when the result came out.

It was the only bid.

What URA awarded


Site area	25,263.2 m² (271,929 sqft)
Maximum gross floor area	35,369 m² (380,709 sqft)
Tenure	99 years
Tendered price	$576,778,554 — $1,515 per square foot per plot ratio
Tender launched	15 May 2026
Tender closed	4 August 2026

Source: Urban Redevelopment Authority, 7 August 2026.

One bid is not the same as no interest

A single bid at a record price is an odd-looking result, and it is worth reading carefully rather than as weakness.

SRI’s Mohan Sandrasegeran put it down to developers “taking a much more selective approach towards capital deployment” — focusing on sites that complement land they already hold, rather than bidding everything. Read against who won, that fits: GuocoLand and Hong Leong are already building in this precinct, and a second parcel beside your first is worth more to you than to anyone else.

What it does mean for a buyer is that the price was not bid up by a contest. It was set by one party’s own view of what the land is worth.

What is being built

The site sits in the new Berlayar district, most of which is going up on the former Keppel Golf Course, with the Greater Southern Waterfront beyond it. It can hold roughly 415 homes, and unusually for a plot of this value, it is capped at five storeys — this will be a low-rise waterfront development, not a tower.

Telok Blangah MRT, VivoCity and the crossing to Sentosa are all close.

CBRE’s Tricia Song named the trade-off plainly: the immediate area has a limited number of schools and limited amenities today. Set against that, a waterfront site next to an MRT station is, in her word, rare.

What the market expects it to cost

Knight Frank’s Alice Tan expects the project to launch from around $2,900 psf, with an eventual average selling price near $3,100 psf.

No developer figure has been published, and none will be for some time. That estimate is hers, not mine — I am not in a position to price a project that has not been designed.

What I would take from this

If you are watching the Greater Southern Waterfront, this is the second parcel released in the Berlayar precinct, and the government is releasing it in pieces rather than all at once. The projects that complete here first will be the ones that set the resale evidence for everything after.

If you own in Telok Blangah or HarbourFront, a record land price a short walk away is a repricing of the ground near you. It changes nothing this month, and it tells you what a developer who already builds here believes the location will be worth on completion.

And if you are thinking of buying in the new project, note what the analysts have said about the surroundings as carefully as what they have said about the price. Schools and daily amenities are thin here today. That may matter more to a family than a hundred dollars a square foot.

Common questions

Who won the Berlayar Drive site, and for how much?

Intrepid Investments, a Hong Leong Holdings company, together with GuocoLand (Singapore), for $576,778,554 — $1,515 per square foot per plot ratio. Theirs was the only bid submitted when the tender closed on 4 August 2026.

Why is $1,515 psf ppr significant?

It is the highest land rate paid for a residential government land sale site in the Rest of Central Region, about 4.1% above the previous high of $1,455 psf ppr set at Tanjong Rhu Road in February 2026.

How many homes will be built there?

Around 415, on a 271,929 sq ft site with a maximum gross floor area of 380,709 sq ft, on a 99-year lease. The site carries a five-storey height limit, so it will be low-rise rather than a tower.