Pine Grove (Parcel B)
AwardedResidential. URA sale site, built as Nava Grove.
S$692,388,000
S$13,167.53 psm GFA, about S$1,223 psf ppr (derived). Awarded 15 November 2023 to Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Pine Grove (Parcel B) | Residential | 25,039.2 m² | 52,583 m² | Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited | S$692,388,000(S$13,167.53) |
As listed at the close of 7 November 2023 (ura-pr23-41), with the outcome the award of 15 November 2023 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited | S$692,388,000 | S$13,167.53 | S$1,223 | Awarded |
| 2 | United Venture Development (No. 7) Pte. Ltd. | S$559,489,100 | S$10,640.11 | S$988 | Unsuccessful |
| 3 | Winchamp Investment Pte. Ltd., parent: Wing Tai Holdings Limited | S$472,000,000 | S$8,976.29 | S$834 | Unsuccessful |
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
15 November 2023
AwardedTender award for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Awarded to
Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited, S$692,388,000 (S$13,167.53 psm GFA, about S$1,223 psf ppr).
Read the press releaseHide the press releaseura-pr23-42
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The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh to the highest tenderers, namely CSC Land Group (Singapore) Pte. Ltd. and Caspian Residential 3 Pte. Ltd. for the site at Clementi Avenue 1; Golden Ray Edge 3 Pte. Ltd. for the site at Pine Grove (Parcel B); and CDL Constellation Pte. Ltd., Frasers Property Phoenix Pte. Ltd. and Sekisui House, Ltd. for the site at Lorong 1 Toa Payoh.
The sites at Clementi Avenue 1 and Pine Grove (Parcel B) were launched for tender on 15 August 2023 while the site at Lorong 1 Toa Payoh was launched on 5 September 2023. The tenders for these sites closed on 7 November 2023. The sites were offered for sale on 99-year lease terms.
Details of the awarded sites and the successful tenderers are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Clementi Avenue 1 | Residential | 13,451.1 m2 | 47,079 m2 | CSC Land Group (Singapore) Pte. Ltd. and Caspian Residential 3 Pte. Ltd. | $633,447,945.00 ($13,455.00) |
| Pine Grove (Parcel B) | Residential | 25,039.2 m2 | 52,583 m2 | Golden Ray Edge 3 Pte. Ltd. | $692,388,000.00 ($13,167.53) |
| Lorong 1 Toa Payoh | Residential | 15,743.0 m2 | 66,121 m2 | CDL Constellation Pte. Ltd., Frasers Property Phoenix Pte. Ltd. and Sekisui House, Ltd. | $968,000,000.00 ($14,639.83) |
7 November 2023
Tender closedTender closing for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
3 bids disclosed
Highest S$692,388,000 (S$13,167.53 psm GFA) from Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited
Read the press releaseHide the press releaseura-pr23-41
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The Urban Redevelopment Authority (URA) closed the tender for 3 sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh today.
The public tender for the two sites at Clementi Avenue 1 and Pine Grove (Parcel B) was launched on 15 August 2023 while the tender for the site at Lorong 1 Toa Payoh was launched on 5 September 2023.
Please see Annexes A, B and C for details of the sites and tender bids received.
This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
15 August 2023
Launched for tenderURA launches tender for sale sites at Clementi Avenue 1 and Pine Grove (Parcel B)
Read the press releaseHide the press releaseura-pr23-31
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The sites at Clementi Avenue 1 and Pine Grove (Parcel B) are part of the increased housing supply under the 2H2023 Government Land Sales Programme to cater to demand.
The Urban Redevelopment Authority (URA) has released two residential sites at Clementi Avenue 1 and Pine Grove (Parcel B) for sale today under the second half 2023 (2H2023) Government Land Sales (GLS) Programme.
The sites at Clementi Avenue 1 and Pine Grove (Parcel B) are launched for sale under the Confirmed List and can potentially yield about 500 and 565 residential units respectively. The total of 1,065 residential units from the two sites form part of the 5,160 residential units to be made available via the Confirmed List of the 2H2023 GLS programme. To cater to demand, the Government has ramped up the Confirmed List supply of private housing in the GLS programme, by 26% in 2H2023 compared to the preceding half year1. With the 2H2023 supply, the Confirmed List supply of around 9,250 units for the whole of 2023 will be at its highest level in a decade.
Details on the two land parcels can be found in Annex 1.
Other Details The tender for the Clementi Avenue 1 site and Pine Grove (Parcel B) site will close at 12 noon on 7 November 2023. The tender closing for the sites will be batched with the residential site at Lorong 1 Toa Payoh which will be launched for sale in September 2023 under the Confirmed List of the 2H2023 GLS Programme.
1 The Confirmed List supply of 5,160 residential units in the 2H2023 GLS programme will bring the total pipeline supply of private housing (including ECs) to about 61,500 units, comprising 49,600 units with planning approval and 11,900 units from GLS sites and awarded en-bloc sites that have not been granted planning approval yet.
30 November 2021
Released on the Reserve ListURA releases two sale sites at Pine Grove (Parcels A & B)
Read the press releaseHide the press releaseura-pr21-50
The Urban Redevelopment Authority (URA) has released two residential sites at Pine Grove (Parcels A & B) for sale today under the Reserve List of the second half 2021 (2H2021) Government Land Sales (GLS) Programme. Together, these two sites can yield up to 1,085 residential units.
Details of the land parcels can be found in Annex 1 and the location plan is in Annex 2.
Site facts
- Selling authority
- URA
- Allowable development
- Residential
- Tenure
- 99 years
- Programme list
- Confirmed List, launched for tender[ura-pr23-31/pr23-31a_v2.pdf]
- Site area
- 25,039.2 sqm[ura-pr23-31/pr23-31a_v2.pdf]
- Maximum GFA
- 52,583 sqm[ura-pr23-31/pr23-31a_v2.pdf]
- Housing units, capped
- 565 maximumA cap stated to manage traffic demand, not an estimated yield.[ura-pr23-31/pr23-31a_v2.pdf]
- Height control
- 153m SHD[ura-pr23-31/pr23-31a_v2.pdf]
- Facts as stated on
- 15 August 20232 versions on record: 30 November 2021, 15 August 2023. Each is kept; the one in force on the reading date is shown.
The market when bids closed
When bids closed on 7 November 2023, URA's latest quarterly figures were for 3Q2023, published 27 October 2023, 11 days earlier. The next release, 4Q2023, came on 26 January 2024. The table carries on through four releases after it.
| Private residential | 1Q2023Apr 2023 | 2Q2023Jul 2023 | On the day3Q2023Oct 2023 | 4Q2023Jan 2024 | 1Q2024Apr 2024 | 2Q2024Jul 2024 | 3Q2024Oct 2024 | Trend | Change3Q2023 to 3Q2024 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 194.8 | 194.4 | 196.0 | 201.5 | 204.3 | 206.1 | 204.7 | +4.4% | |
| Non-landed, core central region | 146.6 | 146.5 | 142.5 | 148.1 | 153.1 | 152.6 | 150.9 | +5.9% | |
| Private rental index | 158.8 | 163.2 | 164.5 | 161.0 | 157.9 | 156.6 | 157.9 | −4.0% | |
| Sales | |||||||||
| New homes sold by developers | 1,256 | 2,127 | 1,946 | 1,092 | 1,164 | 725 | 1,160 | −40.4% | |
| Resales | 2,622 | 2,976 | 2,900 | 2,831 | 2,689 | 3,802 | 3,860 | +33.1% | |
| Sub-sales | 243 | 285 | 355 | 411 | 377 | 388 | 352 | −0.8% | |
| Units launched | 1,312 | 2,374 | 2,805 | 1,060 | 1,304 | 634 | 1,284 | −54.2% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 16,252 | 17,484 | 16,747 | 16,929 | 19,936 | 19,940 | +19.1% | ||
| Pipeline with planning approval | 44,846 | 44,157 | 36,949 | 34,251 | 38,167 | 37,768 | 35,475 | −4.0% | |
| Vacancy rate | 6.0% | 6.3% | 8.4% | 8.1% | 6.8% | 6.1% | held | n/a | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 30 November 2021
URA releases two sale sites at Pine Grove (Parcels A & B)
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Retrieved at
- 2026-09-18 09:29:50 UTC
- Prevo reference
- ura-pr21-50
- AnnexPublished 30 November 2021
Annex 1 to URA releases two sale sites at Pine Grove (Parcels A & B)
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Size
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- Prevo reference
- ura-pr21-50/pr21-50a.pdf
- AnnexPublished 30 November 2021
Annex 2 to URA releases two sale sites at Pine Grove (Parcels A & B)
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- 2026-09-18 09:29:50 UTC
- Prevo reference
- ura-pr21-50/pr21-50b.pdf
- Press releasePublished 15 August 2023
URA launches tender for sale sites at Clementi Avenue 1 and Pine Grove (Parcel B)
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- 2026-09-18 14:52:12 UTC
- Prevo reference
- ura-pr23-31
- AnnexPublished 15 August 2023
Annex 1 to URA launches tender for sale sites at Clementi Avenue 1 and Pine Grove (Parcel B)Version v2
Version v2 of the annex as linked from the release page; the authoritative version. Earlier versions were not supplied and are not in the capture, so supersedes_doc_key is null.
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- b9a97f36653fc08b4567067a3d4c916d73b810673950c4ea355348295d2c8bab
- Size
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- Retrieved at
- 2026-09-18 14:52:12 UTC
- Source version
- v2
- Prevo reference
- ura-pr23-31/pr23-31a_v2.pdf
- Press releasePublished 7 November 2023
Tender closing for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- Size
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- 2026-09-18 14:52:13 UTC
- Prevo reference
- ura-pr23-41
- AnnexPublished 7 November 2023
Annex A to Tender closing for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 200278228f4ed4d2652786d322e24b079f637e37eb9ad1df16d8ad91c18965a4
- Size
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- Prevo reference
- ura-pr23-41/pr23-41a.pdf
- AnnexPublished 7 November 2023
Annex B to Tender closing for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- Size
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- Prevo reference
- ura-pr23-41/pr23-41b.pdf
- AnnexPublished 7 November 2023
Annex C to Tender closing for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- 2026-09-18 14:52:13 UTC
- Prevo reference
- ura-pr23-41/pr23-41c.pdf
- Press releasePublished 15 November 2023
Tender award for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- 471,447 bytes
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- 2026-09-18 14:52:13 UTC
- Prevo reference
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