Lakeside Drive
AwardedResidential with commercial at 1st storey. URA sale site, built as Lucerne Grand.
S$608,000,000
S$12,185.59 psm GFA, about S$1,132 psf ppr (derived). Awarded 9 June 2025 to CDL Polaris Properties Pte. Ltd., parent: City Developments Limited and CDL Polaris Commercial Pte. Ltd., parent: City Developments Limited
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Lakeside Drive | Residential with commercial at 1st storey | 13,485.1 m² | 49,895 m² | CDL Polaris Properties Pte. Ltd., parent: City Developments Limited and CDL Polaris Commercial Pte. Ltd., parent: City Developments Limited | S$608,000,000(S$12,185.59) |
As listed at the close of 3 June 2025 (ura-pr25-26), with the outcome the award of 9 June 2025 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | CDL Polaris Properties Pte. Ltd., parent: City Developments Limited and CDL Polaris Commercial Pte. Ltd., parent: City Developments Limited | S$608,000,000 | S$12,185.59 | S$1,132 | Awarded |
| 2 | Frasers Property Phoenix II Pte. Ltd., parent: Frasers Property Limited and MJR Investment Pte. Ltd. | S$550,555,555 | S$11,034.28 | S$1,025 | Unsuccessful |
| 3 | CL Emerald Pte. Ltd. and Sing Holdings Residential Pte. Ltd. | S$529,008,819 | S$10,602.44 | S$985 | Unsuccessful |
| 4 | Wee Hur Development Pte Ltd, parent: Wee Hur Holdings Ltd | S$503,900,000 | S$10,099.21 | S$938 | Unsuccessful |
| 5 | Intrepid Investments Pte. Ltd., parent: Hong Leong Holdings Limited and TID Residential Pte. Ltd., parent: Hong Leong Holdings Limited / Mitsui Fudosan Co., Ltd. (joint venture) | S$495,178,540 | S$9,924.41 | S$922 | Unsuccessful |
| 6 | Sim Lian Land Pte Ltd, parent: Sim Lian Group Limited and Sim Lian Development Pte Ltd, parent: Sim Lian Group Limited | S$488,195,000 | S$9,784.45 | S$909 | 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.
9 June 2025
AwardedTender award for URA sale site at Lakeside Drive
Awarded to
CDL Polaris Properties Pte. Ltd., parent: City Developments Limited and CDL Polaris Commercial Pte. Ltd., parent: City Developments Limited, S$608,000,000 (S$12,185.59 psm GFA, about S$1,132 psf ppr).
Read the press releaseHide the press releaseura-pr25-27
1 The Urban Redevelopment Authority (URA) has awarded the tender for the site at Lakeside Drive to the highest tenderer, CDL Polaris Properties Pte. Ltd. and CDL Polaris Commercial Pte. Ltd.
2 The site at Lakeside Drive was launched for tender on 8 April 2025. The tender for the site closed on 3 June 2025. The site was offered for sale on a 99-year lease term.
3 Details of the awarded site and the successful tenderer are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Lakeside Drive | Residential with Commercial at 1st Storey | 13,485.1 m2 | 49,895 m2 | CDL Polaris Properties Pte. Ltd. and CDL Polaris Commercial Pte. Ltd. | 608,000,000.00 (12,185.59) |
3 June 2025
Tender closedTender closing for URA sale site at Lakeside Drive
6 bids disclosed
Highest S$608,000,000 (S$12,185.59 psm GFA) from CDL Polaris Properties Pte. Ltd., parent: City Developments Limited and CDL Polaris Commercial Pte. Ltd., parent: City Developments Limited
Read the press releaseHide the press releaseura-pr25-26
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
1 The Urban Redevelopment Authority (URA) closed the tender for the site at Lakeside Drive today.
2 The site at Lakeside Drive was launched for public tender on 8 April 2025.
3 Please see Annex A for details of the site and tender bids received.
4 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.
8 April 2025
Launched for tender, Confirmed ListURA and HDB release three residential sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17
Read the press releaseHide the press releaseura-pr25-17
1. The Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) have released three residential1 sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17 (Executive Condominium (EC)) for sale today under the first half 2025 (1H2025) Government Land Sales (GLS) Programme.
2. The sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17 are launched for sale under the Confirmed List and can potentially yield 575 residential units, 380 residential units and 420 EC units respectively. These form part of the 5,030 residential units to be released via the Confirmed List of the 1H2025 GLS programme to cater to housing demand and maintain market stability.
3. The Government will continue to release a steady supply of private residential units in coming GLS programmes, with supply calibrated to account for prevailing economic and property market conditions.
4. Details on the three land parcels can be found in Annex 1.
Other Details 5. The tenders for the Lakeside Drive, Dunearn Road and Woodlands Drive 17 sites will close at 12 noon on 3 June 2025, 26 June 2025 and 5 August 2025 respectively.
1 The site at Lakeside Drive is zoned Residential with Commercial at 1st Storey, while the sites at Dunearn Road and Woodlands Drive 17 are zoned Residential (see Annex 1).
Site facts
- Selling authority
- URA
- Allowable development
- Residential with commercial at 1st storey
- Tenure
- 99 years
- Programme list
- Confirmed List, launched for tender[ura-pr25-17/pr25-17a_v2.pdf]
- Site area
- 13,485.1 sqmSubject to cadastral survey, as the annex states.[ura-pr25-17/pr25-17a_v2.pdf]
- Maximum GFA
- 49,895 sqm[ura-pr25-17/pr25-17a_v2.pdf]
- Estimated housing units
- 575[ura-pr25-17/pr25-17a_v2.pdf]
- Height control
- Technical height 60m SHD[ura-pr25-17/pr25-17a_v2.pdf]
- Tender conditions
- Housing yield: The number of units is an estimate; the annex says the actual number may vary. Not a cap.
- Facts as stated on
- 8 April 2025
The market when bids closed
When bids closed on 3 June 2025, URA's latest quarterly figures were for 1Q2025, published 25 April 2025, 39 days earlier. The next release, 2Q2025, came on 25 July 2025. The table carries on through four releases after it.
| Private residential | 3Q2024Oct 2024 | 4Q2024Jan 2025 | On the day1Q2025Apr 2025 | 2Q2025Jul 2025 | 3Q2025Oct 2025 | 4Q2025Jan 2026 | 1Q2026Apr 2026 | Trend | Change1Q2025 to 1Q2026 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 204.7 | 209.4 | 211.1 | 213.2 | 215.1 | 216.4 | 218.3 | +3.4% | |
| Non-landed, core central region | 150.9 | 154.8 | 156.0 | 160.7 | 163.4 | 157.7 | 158.6 | +1.7% | |
| Private rental index | 157.9 | 157.9 | 158.5 | 159.8 | 161.7 | 160.9 | 161.4 | +1.8% | |
| Sales | |||||||||
| New homes sold by developers | 1,160 | 3,420 | 3,375 | 1,212 | 3,288 | 2,940 | 2,013 | −40.4% | |
| Resales | 3,860 | 3,702 | 3,565 | 3,647 | 3,881 | 3,529 | 3,225 | −9.5% | |
| Sub-sales | 352 | 311 | 321 | 269 | 235 | 230 | 175 | −45.5% | |
| Units launched | 1,284 | 3,425 | 3,139 | 1,520 | 4,191 | 2,632 | 1,844 | −41.3% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 19,940 | 19,405 | 18,125 | 18,498 | 17,029 | 14,859 | 16,095 | −11.2% | |
| Pipeline with planning approval | 35,475 | 35,305 | 35,364 | 36,663 | 36,814 | 35,690 | 38,133 | +7.8% | |
| Vacancy rate | held | 6.6% | 6.5% | held | held | 6.0% | 6.2% | −0.3 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 8 April 2025
URA and HDB release three residential sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17
Urban Redevelopment Authority and Housing & Development Board · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Retrieved at
- 2026-09-18 16:56:52 UTC
- Prevo reference
- ura-pr25-17
- AnnexPublished 8 April 2025
HDB Annex 1, site details to URA and HDB release three residential sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17
Urban Redevelopment Authority and Housing & Development Board · Retrieved 19 September 2026
Source fact · Source-backedTechnical details
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- 2026-09-19 09:24:10 UTC
- Prevo reference
- ura-pr25-17/08042025-Annex-1.pdf
- AnnexPublished 8 April 2025
Annex 1 to URA and HDB release three residential sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17Version 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 and Housing & Development Board · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Format
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- Retrieved at
- 2026-09-18 16:56:52 UTC
- Source version
- v2
- Prevo reference
- ura-pr25-17/pr25-17a_v2.pdf
- Press releasePublished 3 June 2025
Tender closing for URA sale site at Lakeside Drive
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- ae924c0d6fd3ae2b23cf799b92b7cc745aa71b35b19ace586670aa1367243309
- Size
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- 2026-09-18 16:56:52 UTC
- Prevo reference
- ura-pr25-26
- AnnexPublished 3 June 2025
Annex A to Tender closing for URA sale site at Lakeside Drive
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- b1150c8ed7d26161a553aeeff3bb063c67326eb5ad5fe8d5284aaf9a8394f694
- Size
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- Retrieved at
- 2026-09-18 16:56:52 UTC
- Prevo reference
- ura-pr25-26/pr25-26a1.pdf
- Press releasePublished 9 June 2025
Tender award for URA sale site at Lakeside Drive
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 3374b193b25d86b85fa474c78dbf3f68cdd8f370c823a4b18d9fa6fced3daf9e
- Size
- 446,815 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 16:56:52 UTC
- Prevo reference
- ura-pr25-27