Bedok Rise GLS

The research read

Bedok Rise is a planned condominium of about 380 units, on a 2.03-hectare plot off New Upper Changi Road. The district is 16, and the lease is 99 years. The developer is Allgreen Properties, through a company called Bellis Residential Pte Ltd. The site was awarded on 2 December 2025 for $464.8 million, or $1,330 psf ppr. Preview is targeted for Q1 2027 (est.) and keys for around 2031 (est.). The developer has not released a project name yet.

Two things to take note about this East side site. The first is that it is the last state land plot fronting Tanah Merah MRT (EW4). That is a station running today, not a promised one, and it sits roughly 130 metres away. The second is what the tender said about it. Ten developers bid, at a moment when analysts had expected three to seven. The top two were $6 psf ppr apart. Developers rarely agree that closely on what a site is worth.

Both facts are true. Neither of them sets a price. Allgreen paid $1,330 psf ppr for the land. So the first thing to establish is what it has to charge to make that work. The second is whether the resulting price clears the money a Bedok upgrader actually has. The third is what a 1,040-unit government site further along the same road does to the exit. Those three questions run through the rest of this page.

Ten bids: what the tender actually revealed

The bid sheet is the most useful public document on this project. It is the only place where ten independent balance sheets priced the same land on the same day.

1. Sep 2025Site released for tenderBedok Rise, on the Confirmed List of the 2H2025 GLS Programme — a residential (non-landed) parcel of 20,293.6 sqm with a maximum GFA of 32,470 sqm at a plot ratio of 1.6.
2. 27 Nov 2025Tender closes with ten bidsAgainst pre-close expectations of three to seven. The most contested residential GLS tender of 2025, and the strongest turnout since the two Slim Barracks Rise parcels in September 2021.
3. 27 Nov 2025The bid ladderBellis Residential (Allgreen) $1,330 psf ppr; Hoi Hup Realty $1,324; a consortium of ABR Holdings, LWH Holdings, Macly Group and Roxy-Pacific $1,291; Hong Leong Holdings, Hong Realty and TID $1,270; Wing Tai Holdings $1,265; the lowest, from UOL, Singapore Land and Kheng Leong, at about $1,121.
4. 2 Dec 2025Awarded to Bellis Residential$464.8 million. The winning bid cleared the runner-up by 0.4%.

Read it two ways, and both are honest. The bullish read starts with the spread. First and second were 0.4% apart, and top to bottom was under 20%. The market broadly agreed on what this site is worth. No single bidder overpaid and then has to price a mistake into the launch.

The cautious read is that agreement is not a discount. Ten bidders converging near $1,330 is exactly what pushes a land price to the top of its range. The buyer inherits that price. For scale, the last state plot in this pocket was Tanah Merah Kechil Link, which became Sceneca Residence. It drew 15 bids in 2020 and was awarded at $930 psf ppr.

Working the price up from $1,330 psf ppr land

At $1,330 psf ppr this is among the highest rates ever paid for a homes-only state site outside the central region. Only Bayshore Road and the two Chuan Grove plots sit above it. That is the starting position, whatever story gets told around it.

Land is one line in the cost stack. Add construction, finance, professional fees and marketing to the $1,330 psf ppr land cost. That gives an estimated breakeven of about $2,455 psf ppr. Applying the 1.15–1.30 margin band we use on every project on this site gives an indicative launch range of $2,820–$3,190 psf. The full working is in our pricing methodology. The direction of the logic matters here. An expensive land cost raises the floor under the price. It does not guarantee the ceiling. A developer who paid up has less room to price keenly, but the market still decides what sells.

Getting around: a station 130m away

• Tanah Merah (EW4), about 130 metres — a 2 to 5 minute walk (est.), verify with OneMap. Operational since 1989. The site fronts the station, and it is the last GLS parcel in the area that does.
• Two East-West Line services from one station. Tanah Merah is where the Changi Airport branch splits from the mainline, so the airport is minutes away by rail while Paya Lebar, Bugis and Raffles Place run in the other direction without a transfer.
• Bedok (EW5), one stop. Bedok Mall, the air-conditioned bus interchange, Bedok Interchange Hawker Centre and Heartbeat@Bedok — the full town-centre amenity set, one stop from the door.
• Expo (CG1/DT35), one stop on the branch, putting the Downtown Line within a single transfer, with Changi Business Park and Tampines Regional Centre both short rides away.
• By road, the ECP is reached via New Upper Changi Road and Bedok South Avenue 3, with the PIE and KPE carrying the north–south leg across the East.

The upside people repeat most is the interchange. Tanah Merah is set to link the East-West Line with the Thomson-East Coast Line. That happens as the TEL’s eastern extension is built, currently indicated for the mid-2030s. Apply the slippage test. Say that date moves, or the link arrives in a different form. A working mainline station 130 metres away still carries the commute case in full. The second line is a bonus, not the foundation. And on a project finishing around 2031, any TEL benefit lands well after move-in. So it is an argument about resale value, not about daily life.

Catalysts, in a corridor that is already built

• Changi East and Terminal 5. Groundbreaking in 2025, opening indicated for the mid-2030s. The largest committed employment driver in the East, and the reason the airport-adjacent tenant pool should deepen rather than plateau.
• The Tanah Merah TEL interchange (mid-2030s, indicative). Dated by network planning rather than by an awarded civil contract, so treat the date as softer than a funded construction milestone.
• Sceneca Square. The retail mall beneath Sceneca Residence, immediately adjacent, completing 2026 — supermarket and F&B within a walk rather than a drive.
• Paya Lebar Airbase relocation (late 2030s). Frees roughly 800 hectares and progressively lifts height limits across parts of the East. Genuinely transformative, genuinely distant.

Bedok and Tanah Merah are a mature estate, not an area being rebuilt. Casa Merah (2007), Optima (2009), Urban Vista and The Glades (2013), Grandeur Park (2017) and Sceneca Residence (2023) have already filled this corridor in. No Tengah or Bidadari scale masterplan is coming to lift it. What exists is a finished set of shops, schools and parks, plus two long-dated rail events. Calling that a new-town story would be inventing one. The compensation is the opposite of a new town: nothing here is waiting to be built before it works.

Schools, shops and the everyday stuff

On our own schools dataset, Temasek Primary sits about 0.97km from the site. That is inside the 1km band, but only just. Bedok Green Primary is about 1.04km and St. Anthony’s Canossian Primary about 1.13km. Both fall outside 1km on this measure. Red Swastika (1.59km), Changkat (1.66km), Fengshan (1.71km) and Yu Neng (1.84km) sit beyond that. These are straight-line distances worked out from OneMap coordinates. MOE measures priority on its own basis, from a point it defines. At 0.97km the margin is thin enough that the result could go either way. Confirm on MOE SchoolFinder before you rely on it. Anything claiming a confirmed 1km zone for this site today is claiming more than the data supports.

The 2025 registration record shows what being close actually buys. Temasek Primary balloted at Phase 2A with 122 applicants for 44 places. It balloted again at Phase 2C, the stage open to children with no family link to the school, with 103 applicants for 50 places. That second ballot ran among Singapore Citizens living within 1km. So the 1km band gets a family to the draw, and no further.

The contrast next door is instructive. Bedok Green Primary did not ballot at any phase in 2025 and still had places left at Phase 2C. Being near a school with spare capacity is a very different thing from being near one without. Our wider work on this is in primary schools and new launch demand.

Beyond schools, the daily-life layer already exists. Sceneca Square is next door. Bedok Mall and the Bedok Interchange Hawker Centre are one MRT stop away. Heartbeat@Bedok puts a polyclinic, library and sports centre in the same trip. Simpang Bedok’s food strip is a short drive, and East Coast Park is minutes by car.

Does it work as a rental?

Sceneca Residence is the closest comparable stock and the fairest rental guide. Two-bedroom units there have been asking and letting at roughly $5.65 to $6.51 psf a month through mid-2026. On a 650 sqft unit that is about $3,700 to $4,200 a month. Now apply the low end of that rent to an entry price in our indicative range. A 650 sqft two-bedroom at $2,900 psf costs about $1.89 million. That grosses roughly 2.3% before the higher non-owner-occupied property tax, maintenance and a month of empty weeks. Sceneca itself, bought at 2023 prices, has been running closer to 3.8% to 4% gross.

The point is not that the project is weak. It is that rental income is not the argument holding it up. Rents in a corridor do not jump simply because a newer building opens in it. They follow the tenant pool, which here means Changi Airport, Changi Business Park and Tampines. A buyer at launch prices is backing future capital growth and the scarcity of new stock at this station, not the rent. Anyone buying mainly for income should put their own entry price through the new launch ROI calculator rather than trust a corridor average.

Who Bedok Rise is really for

Four kinds of buyer fit. District 16 landed owners around Kew Drive and Jalan Limau who want to drop the upkeep without leaving the postcode. The wide gap between landed and condo values funds the move. Their adult children buying a first private home near family. Bedok, Tampines and Pasir Ris flat owners past their minimum occupation period who want a doorstep address on the line they already use. And long-horizon buyers who read “last plot at this station” as a fact rather than a sales line.

It does not fit the buyer funding the whole purchase from HDB sale proceeds with nothing on top. On our indicative range, a 915 sqft three-bedroom lands near $2.6 to $2.9 million. That is well above what a Bedok five-room resale releases after the CPF refund and the outstanding loan. The gap is real, and a payment schedule does not dissolve it. It also does not fit the buyer hunting the cheapest entry into the 2027 pipeline. Cheaper-land sites exist, and they will price accordingly.

Eligibility, duties and the loan maths

Standard private condominium rules apply. There is no citizenship restriction and no minimum occupation period. Your total monthly loan repayments are capped at 55% of gross monthly income. That test uses a 4% interest rate, whatever package rate you are offered. You can borrow up to 75% of the price on a first housing loan. Singapore Citizens pay no Additional Buyer’s Stamp Duty on a first property, 20% on a second and 30% on a third. Permanent Residents pay 5% on a first and 30% on a second. Foreign buyers pay 60%. Buyer’s Stamp Duty runs on the tiered scale, about $84,100 on a $2.29 million purchase.

Seller’s Stamp Duty is the tax for selling too soon after buying. Under the schedule effective 4 July 2025 it runs for four years. The clock starts when the option is exercised, not when you get the keys. On a launch previewing in 2027 and finishing around 2031, that window usually closes just as you collect keys.

Progressive payments shape the cash profile. You pay 5% on booking, then 15% plus Buyer’s Stamp Duty when the option is exercised. After that, payments are staged against construction milestones, with the balance due at completion. Before preview, the concrete step is an in-principle approval from a bank. Then you know which unit types you can afford, instead of guessing on booking day.

Work the numbers through our affordability calculator, stamp duty calculator and progressive payment calculator. Upgraders selling a flat first should start with selling an HDB to buy a new launch. Test the instalment at a rate above today’s, not at today’s. Nobody can forecast the rate you will refinance into.

Minus points for Bedok Rise

Below are the trade-offs we would want a buyer to price in before preview.

• HighEntry pricing outruns the local upgrader bridgeOn our indicative $2,820–$3,190 psf range, a 915 sqft three-bedroom lands near $2.6–2.9 million. A Bedok five-room resale transacted around $800,900 in 3Q2025 on HDB data, and after CPF refund and loan settlement a typical seller nets a fraction of that — enough for the down payment and stamp duty on a one- or two-bedroom, not for a family-sized unit without a material top-up. The mitigant is mix: an estimated 380 units across a full bedroom range keeps smaller formats reachable, and the landed right-sizer pool next door is funded very differently. The bridge still has to be checked household by household.
• ModerateA 1,010-unit GLS site on the same road, now pricedThe New Upper Changi Road parcel — 3.08 hectares, an estimated 1,010 units, roughly two and a half times this project's scale — closed its tender on 1 September 2026 at $1,537 psf ppr, taken by a UOL Group, CapitaLand Development and Singapore Land consortium against four bids. That is 15.6% above the $1,330 psf ppr paid here, and it changes the shape of this risk in two directions at once. The competing site now carries a materially higher cost base, so it is unlikely to undercut Bedok Rise on price — our own estimate for it is $3,150–$3,560 psf against $2,820–$3,190 here. But it also draws on the same Bedok and Tampines upgrader base at greater scale, and it sits nearer Bedok MRT rather than Tanah Merah. Its launch could still trail Bedok Rise by a year or more. What it is not is absent, and any "no competing supply" framing should be treated with suspicion.
• ModerateNear-record land cost compresses the margin for errorAt $1,330 psf ppr against Chencharu Close at $980, this developer has materially less pricing cushion than a lower-land-cost peer, and a $2,455 psf ppr breakeven leaves little room to discount into a soft market. The mitigant is precedent: Bayshore Road was awarded higher still at $1,388 psf ppr, and Allgreen sold 54% of Promenade Peak on its opening weekend in August 2025. Both are evidence of capability, not of outcome.
• ModerateThe school claim is thinner than the marketing will suggestTemasek Primary is 0.97km away on our straight-line measure — inside 1km by about 30 metres, on a basis MOE does not use — and it balloted at both Phase 2A and Phase 2C in 2025. A family buying substantially for that band is taking two risks at once: the measurement and the ballot. The mitigant is that the 1–2km set is deep, and Bedok Green at 1.04km had vacancies at every 2025 phase.
• LowDeveloper deliveryAllgreen Properties has delivered roughly 53 residential projects and about 11,000 units in Singapore since the early 1980s, backed by the Kuok Group's balance sheet. On a build of this size, counterparty risk is about as low as this market offers.
• LowConstruction-period conditionsA multi-year build alongside an established estate, plus residual works in the immediate precinct. Temporary, and resolved long before a typical seven-to-ten-year hold matures.

The two things to watch next

1. 2 Dec 2025Site awarded$464.8M — $1,330 psf ppr to Bellis Residential (Allgreen), after ten bids.
2. 1 Sep 2026New Upper Changi Road GLS tender closedFour bids; top bid $1,537 psf ppr from a UOL Group, CapitaLand Development and Singapore Land consortium — a record for a pure residential state site in the OCR, and 15.6% above the rate paid here nine months earlier. The corridor re-rated upward. Full result.
3. Q4 2026 – Q1 2027 (est.)Project name, site plan and floor plansThe point at which stack facings, layout efficiency and the true unit mix become analysable rather than assumed.
4. Q1 2027 (est.)Preview and price listOur dataset carries a Q1 2027 preview estimate; some marketing material points to 2H 2027. Neither is developer-confirmed. This is when the estimates on this page become facts — day-one take-up is the demand signal worth watching.
5. 2031–2032 (est.)Estimated TOPRoughly four to five years from launch. SSD, running four years from exercise, typically clears around the same window.
6. Mid-2030s (indicative)Tanah Merah TEL interchangeA resale-stage catalyst rather than an own-stay one, on this project's timeline.

Where we land on it

Stated as a trade, it reads like this. You pay a near-record land cost for a site outside the central region. That gets passed into launch pricing which, on our numbers, sits above every resale comparison at the station. In exchange you get a fresh 99-year lease 130 metres from a working MRT station. It is the last plot that will ever offer that position. The estate around it is finished rather than promised. The developer has four decades of delivery behind it. That suits a landed right-sizer with a wide valuation gap to spend. It suits an upgrader with real top-up cash. And it suits a long-horizon buyer who values scarcity over entry price. It does not suit a rental-income buyer at roughly 2.3% gross. Nor does it suit a family stretching to the last dollar for a school band measured to within 30 metres.

Watch two numbers. The first is the launch price against our $2,820–$3,190 indicative range. Priced near or below the analyst view of $2,300–$2,700, the developer has chosen volume over margin. Buyers get the better end of the land cost. Priced into our band or above, the buyer is funding it. The second has now landed. New Upper Changi Road closed on 1 September 2026 at $1,537 psf ppr, well clear of the $1,330 paid here. That suggests the whole corridor has moved up, rather than this pocket being bid up on its own. We re-check both when the price list lands.

Wider context sits in our GLS pipeline tracker, our 1H2026 GLS analysis and the new launch versus resale guide. That last one matters unusually much here, given how wide the gap to Grandeur Park and Urban Vista runs. Interested buyers should visit the Bedok Rise Residences appointed developer sales website to register interest, get the latest e-brochure and book a showflat viewing. Floor plans and the official name appear there as they are confirmed, and this page stays the yardstick to measure them against.

Bedok Rise: the short version

• Allgreen paid $1,330 psf ppr in December 2025. That is among the highest ever for a homes-only state site outside the central region.
• Ten developers bid, and the top two were $6 psf ppr apart. Agreement on value, not a bargain.
• Our indicative launch range is $2,820–$3,190 psf. Several analysts say $2,300–$2,700. We publish the gap rather than split it.
• Either way, that is above the corridor’s resale band, which tops out near $2,360 psf at Sceneca Residence.
• Tanah Merah MRT is about 130 metres away and running today. The interchange upgrade is mid-2030s.
• Temasek Primary is about 0.97km away on our measure. That is inside 1km by roughly 30 metres, so treat it as unsettled.
• Rental yield would be about 2.3% gross, against 3.8–4% at Sceneca bought in 2023.

So what should you do with this? If the school band is the reason you are looking, check the address on MOE SchoolFinder first. Thirty metres is not a margin to plan around. Work out what your current home nets after the CPF refund and outstanding loan. Compare that with $2.6 to $2.9 million for a three-bedroom, rather than with the headline psf. Then, at preview, check whether the price list lands nearer $2,300 or nearer $3,190. That single number tells you who absorbed the land cost.

Sources: URA GLS tender and award notices (Sep–Dec 2025) and quarterly price index releases; EdgeProp, The Edge Singapore, CBRE and ERA commentary on the 27 November 2025 tender close; our own land sales and matched-resale datasets (2026 transactions); MOE school data and 2025 P1 balloting releases compiled in our own schools dataset; HDB resale statistics (3Q2025); IRAS and MAS for stamp duty, LTV and TDSR. Figures marked (est.) are estimates and subject to change at preview. Past performance of comparable projects is not indicative of future results. This page is research, not financial advice. PropertyInsider.sg is an independent research publication and does not take developer fees for its research. The publisher’s agency is part of the developer’s appointed sales team for this project; that work sits outside the research desk and does not change our figures or verdict. See our editorial policy.

Page history

• 3 Oct 2026 — Wording pass. Region names now use URA's CCR, RCR and OCR labels, and several phrases were simplified for first-read clarity. No figure, date or source changed.
• 2 Oct 2026 — Link to the project’s appointed developer sales website reworded, so readers can see where to register interest, get the e-brochure and book a showflat viewing. Disclosure line updated to state that the publisher’s agency is part of the appointed sales team. No figure, table, source or FAQ answer changed.
• 30 Sep 2026 — Estimated breakeven restated on the PropertyInsider.sg cost model, which replaces the third-party cost stack used before: $2,455 psf ppr; indicative range now $2,820–$3,190 psf. Cost lines quoted in the text updated to match.
• 9 Sep 2026 — Plain-English pass. Prose rewritten for shorter sentences and first-read clarity, jargon explained at first use, a short-version summary added before the FAQ, and em dashes removed from body prose. No figure, date, table row, source, link or FAQ answer was changed in substance.
• 20 Aug 2026 — Editorial pass: section headings and framing rewritten to be specific to this project rather than shared house phrasing across the launch pages. No figures, sources, tables or FAQ answers changed.
• 19 Aug 2026 — Research read rewritten to the house standard. Tender provenance and the full ten-bid ladder added; pricing walked from the $2,449 psf ppr breakeven to the $2,820–$3,180 indicative range, with the disagreement against analyst estimates stated rather than smoothed; corridor resale cross-check rebuilt from our own 2026 matched-resale data; school distances restated from our own OneMap-geocoded dataset, correcting an earlier claim that both Temasek and Bedok Green fall within 1km — Bedok Green measures about 1.04km; 2025 balloting figures added; the New Upper Changi Road competing GLS site added to the risks and the timeline; rental counter-case, eligibility and financing sections added.
• 12 Aug 2026 — Land-cost table and corridor comparables refreshed.
• 02 Sep 2026 — New Upper Changi Road tender result folded in. The competing-supply risk, the timeline entry and the closing read are restated against the $1,537 psf ppr outcome; the site's estimated units are corrected from 1,040 to 1,010 and its area from 3.16 to 3.08 hectares, both to the URA tender particulars. Our own $2,820–$3,180 range for Bedok Rise is unchanged — a neighbouring land rate is context, not an input to this project's cost stack.
• Next scheduled update — the day the developer publishes a price list, when the indicative range is replaced with actual pricing.

Frequently asked questions