URA has awarded the New Upper Changi Road residential site for S$1,537 psf ppr, according to its release of 4 September 2026. That is higher than the two most recent Bedok residential sites in URA's land sales records. If you own, rent or are weighing a purchase in Bedok, the result tells you what one developer group committed to pay for land. It does not tell you what finished homes on that land will cost.
- S$1,537 psf ppr New Upper Changi Road, tendered price per square foot of permissible floor area 4 September 2026 · URA release, converted from S$ per m² at 10.7639 sq ft per m²
- S$1,425.4 million New Upper Changi Road, total tendered price 4 September 2026 · URA release
- 4 bids received for New Upper Changi Road 2026-09-04 · URA Government Land Sales — past sale sites
Two comparisons in this award are easy to misread
The first is the comparison with earlier land sales. Land prices from different tenders are not like for like. Each plot has its own size, shape and permitted floor area, and each tender takes place in a different market and on its own lease terms. A higher figure this time does not mean every piece of Bedok land has been repriced to match.
The second is the comparison with resale homes. A land price per square foot of permissible floor area measures what a developer pays for the right to build. A resale price per square foot measures what a buyer paid for a finished home, with construction, financing and everything else already built in. The two are different measures. The gap between them is not a launch price, and none can be read from this award.
What URA's release actually records
The site went to the highest tenderer, United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd., who bid jointly. The tender opened on 15 May 2026 and closed on 1 September 2026. The land is offered on a 99-year lease and zoned residential.
URA gives a site area of 30,769.0 m² and a maximum permissible gross floor area of 86,154 m². The tendered price is S$1,425,388,000, or S$16,544.65 per square metre of gross floor area. Converted to square feet of permissible floor area, that comes to S$1,537 psf ppr. URA's government land sales records show 4 bids for the site.
How it sits against earlier Bedok sites
URA's government land sales records list several earlier residential sites in Bedok. Each price below is converted from S$ per square metre of floor area, on the same basis as the new award.
| Site | Date of award | Price at award |
|---|---|---|
| New Upper Changi Road | 4 September 2026 | S$1,537 psf ppr |
| Bedok Rise | 2025-12-02 | S$1,330 psf ppr |
| Bayshore Road | 2025-03-28 | S$1,388 psf ppr |
| New Upper Changi Road / Bedok South Avenue 3 | 2016-02-26 | S$761 psf ppr |
The new award is above both recent sites and about double the much earlier site on New Upper Changi Road and Bedok South Avenue 3. The caution from above applies. Those tenders were held in different markets, for different plots. The table shows what developers bid on each occasion. It is not a trend line for the value of any home.
Where this leaves Bedok homeowners and buyers
URA's filed transactions put the median resale price of condominiums and apartments in Bedok at S$1,562 psf from October 2025 to September 2026. That median rests on 1,053 resale transactions. It describes what existing private homes changed hands for. It is not a benchmark for this site, and the closeness of the two figures should not be read as a sign of where new homes will be priced.
If you own a condominium in Bedok, the award does not change what your home is worth. A land sale records one bid, for one plot, on one date. If you are thinking of buying in the area, the award tells you a large new residential development is coming. It tells you nothing about its launch price, its unit mix or when it will be ready.
What to check before you decide anything
- Compare like with like. Set a resale home against resale homes of similar age, size, tenure and location. Do not set it against a land price.
- Check the lease. This site carries a 99-year lease that has not yet started. An existing home's remaining lease will differ, and that matters for financing and resale.
- Look at the underlying transactions. A district median covers many different projects. Ask for the recent filed transactions in the specific development you are considering.
- Wait for launch details. Pricing, unit sizes and completion timing come from the developer at launch, not from the land award.
Every awarded site, with its price and bid count, is in the Truestorey land sales record, together with the earlier Bedok tenders above.
