Champions Way
AwardedResidential. URA sale site, built as Norwood Grand.
S$294,889,000
S$9,729.42 psm GFA, about S$904 psf ppr (derived). Awarded 18 September 2023 to CDL Stellar Pte. Ltd., parent: City Developments Limited
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Champions Way | Residential | 14,432.5 m² | 30,309 m² | CDL Stellar Pte. Ltd., parent: City Developments Limited | S$294,889,000(S$9,729.42) |
As listed at the close of 12 September 2023 (ura-pr23-33), with the outcome the award of 18 September 2023 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | CDL Stellar Pte. Ltd., parent: City Developments Limited | S$294,889,000 | S$9,729.42 | S$904 | Awarded |
| 2 | TID Residential Pte. Ltd., parent: Hong Leong Holdings Limited / Mitsui Fudosan Co., Ltd. (joint venture) | S$272,260,000 | S$8,982.81 | S$835 | Unsuccessful |
| 3 | CNQC-OS (4) Pte. Ltd. and Forsea Residence Pte. Ltd., parent: Soilbuild Group Holdings Ltd / Yanlord Land Group Limited / United Engineers Limited interests (exact shareholding requires registry confirmation) | S$240,010,000 | S$7,918.77 | S$736 | Unsuccessful |
| 4 | JBE (S) Pte Ltd | S$235,332,000 | S$7,764.43 | S$721 | Unsuccessful |
| 5 | Golden Ray Edge 3 Pte. Ltd., parent: Allgreen Properties Limited / Kerry Properties Limited | S$215,388,888 | S$7,106.43 | S$660 | Unsuccessful |
| 6 | Innova Investments Limited | S$203,333,333 | S$6,708.68 | S$623 | 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.
18 September 2023
AwardedAward of tender for URA sale sites at Lentor Central and Champions Way
Awarded to
CDL Stellar Pte. Ltd., parent: City Developments Limited, S$294,889,000 (S$9,729.42 psm GFA, about S$904 psf ppr).
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The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Lentor Central and Champions Way to the highest tenderers, namely Intrepid Investments Pte. Ltd., GuocoLand (Singapore) Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd. for the site at Lentor Central; and CDL Stellar Pte. Ltd. for the site at Champions Way.
The sites at Lentor Central and Champions Way were launched for tender on 12 April 2023 and 25 May 2023 respectively. The tenders for these sites closed on 12 September 2023. The sites were offered for sale on 99-year lease terms.
Details of the awarded sites and the successful tenderers are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Lentor Central | Residential | 14,703.2 m2 | 41,169 m2 | Intrepid Investments Pte. Ltd., GuocoLand (Singapore) Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd | $435,166,426 ($10,570.25) |
| Champions Way | 14,432.5 m2 | 30,309 m2 | CDL Stellar Pte. Ltd. | $294,889,000 ($9,729.42) |
12 September 2023
Tender closedTender closing for URA sale sites at Lentor Central and Champions Way
6 bids disclosed
Highest S$294,889,000 (S$9,729.42 psm GFA) from CDL Stellar Pte. Ltd., parent: City Developments Limited
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The Urban Redevelopment Authority (URA) closed the tender for the two sites at Lentor Central and Champions Way today.
The public tender for the two sites at Lentor Central and Champions Way were launched on 12 April 2023 and 25 May 2023 respectively.
Please see Annex A and B 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.
25 May 2023
Launched for tender, Confirmed ListURA releases sale sites at Champions Way, Lorong 1 Toa Payoh and Punggol Walk
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- The two residential sites at Champions Way and Lorong 1 Toa Payoh are part of the increased housing supply under the 1H2023 Government Land Sales Programme to cater to demand
- The commercial site at Punggol Walk will help cater to demand for workspaces near homes and support decentralisation
The Urban Redevelopment Authority (URA) has released two residential sites at Champions Way and Lorong 1 Toa Payoh, and a short-term lease commercial site at Punggol Walk for sale today under the 1st half 2023 (1H2023) Government Land Sales (GLS) Programme.
**Residential sites at Champions Way and Lorong 1 Toa Payoh
The residential site at Champions Way is launched for sale under the Confirmed List and can potentially yield about 350 residential units. It forms part of the 4,090 residential units1 to be made available via the Confirmed List of the 1H2023 GLS programme and represents a 17% increase from the 3,505 units made available in 2H2022. The residential site at Lorong 1 Toa Payoh is available for application under the Reserve List and can potentially yield an additional 775 residential units. Together, the two residential sites can yield about 1,125 residential units.
Short-term lease commercial site at Punggol Walk As part of the Government’s efforts to support decentralisation and cater to demand for workspaces near homes, the Government has released a commercial site at Punggol Walk on the Reserve List, with a 30-year lease tenure and a potential yield of about 8,400 sqm of office space. The release of sites on shorter lease allows our land uses to be refreshed in shorter cycles to support businesses in adapting their operations more nimbly to changing economic trends and market demand.
Details on the three land parcels can be found in Annex 1.
Other Details The tender for Champions Way site will close at 12 noon on 12 September 2023.
More information on the three land parcels are available on the URA website at:
Champions Way
1 The total supply of 4,090 residential units will bring the total pipeline supply of private housing (including ECs) to about 58,300 units, comprising 50,200 units with planning approval and 8,100 units from GLS sites and awarded en-bloc sites that have not been granted planning approval yet.
Site facts
- Selling authority
- URA
- Allowable development
- Residential
- Tenure
- 99 years
- Programme list
- Confirmed List, tender closed[ura-pr23-33/pr23-33b.pdf]
- Site area
- 14,432.5 sqm[ura-pr23-33/pr23-33b.pdf]
- Maximum GFA
- 30,309 sqm
- Minimum 500 sqm childcare centre
- Estimated housing units
- 350[ura-pr23-33/pr23-33b.pdf]
- Height control
- 61m SHD[ura-pr23-33/pr23-33b.pdf]
- Facts as stated on
- 12 September 20232 versions on record: 25 May 2023, 12 September 2023. Each is kept; the one in force on the reading date is shown.
The market when bids closed
When bids closed on 12 September 2023, URA's latest quarterly figures were for 2Q2023, published 28 July 2023, 46 days earlier. The next release, 3Q2023, came on 27 October 2023. The table carries on through four releases after it.
| Private residential | 4Q2022Jan 2023 | 1Q2023Apr 2023 | On the day2Q2023Jul 2023 | 3Q2023Oct 2023 | 4Q2023Jan 2024 | 1Q2024Apr 2024 | 2Q2024Jul 2024 | Trend | Change2Q2023 to 2Q2024 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 188.6 | 194.8 | 194.4 | 196.0 | 201.5 | 204.3 | 206.1 | +6.0% | |
| Non-landed, core central region | 145.4 | 146.6 | 146.5 | 142.5 | 148.1 | 153.1 | 152.6 | +4.2% | |
| Private rental index | 148.1 | 158.8 | 163.2 | 164.5 | 161.0 | 157.9 | 156.6 | −4.0% | |
| Sales | |||||||||
| New homes sold by developers | 690 | 1,256 | 2,127 | 1,946 | 1,092 | 1,164 | 725 | −65.9% | |
| Resales | 2,694 | 2,622 | 2,976 | 2,900 | 2,831 | 2,689 | 3,802 | +27.8% | |
| Sub-sales | 204 | 243 | 285 | 355 | 411 | 377 | 388 | +36.1% | |
| Units launched | 504 | 1,312 | 2,374 | 2,805 | 1,060 | 1,304 | 634 | −73.3% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 16,024 | 16,252 | 17,484 | 16,747 | 16,929 | 19,936 | n/a | ||
| Pipeline with planning approval | 46,041 | 44,846 | 44,157 | 36,949 | 34,251 | 38,167 | 37,768 | −14.5% | |
| Vacancy rate | 5.5% | 6.0% | 6.3% | 8.4% | 8.1% | 6.8% | 6.1% | −0.2 pts | |
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 25 May 2023
URA releases sale sites at Champions Way, Lorong 1 Toa Payoh and Punggol Walk
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Retrieved at
- 2026-09-18 14:52:10 UTC
- Prevo reference
- ura-pr23-15
- AnnexPublished 25 May 2023
Annex 1 to URA releases sale sites at Champions Way, Lorong 1 Toa Payoh and Punggol WalkVersion 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
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- 2026-09-18 14:52:10 UTC
- Source version
- v2
- Prevo reference
- ura-pr23-15/URA pr23-15a_v2.pdf
- Press releasePublished 12 September 2023
Tender closing for URA sale sites at Lentor Central and Champions Way
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Size
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- Prevo reference
- ura-pr23-33
- AnnexPublished 12 September 2023
Annex A to Tender closing for URA sale sites at Lentor Central and Champions Way
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-pr23-33/pr23-33a.pdf
- AnnexPublished 12 September 2023
Annex B to Tender closing for URA sale sites at Lentor Central and Champions Way
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- Retrieved at
- 2026-09-18 14:52:12 UTC
- Prevo reference
- ura-pr23-33/pr23-33b.pdf
- Press releasePublished 18 September 2023
Award of tender for URA sale sites at Lentor Central and Champions Way
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 2406b32063cfe0a942fa84b7e2b4b88fe06920365543a53d02daf53a36ddee43
- Size
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- Format
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- Retrieved at
- 2026-09-18 14:52:12 UTC
- Prevo reference
- ura-pr23-34