Frasers Property, Mitsubishi Estate JV tops Kallang GLS site with $610.75m bid

This is equivalent to about $1,415 per square foot per plot ratio.

A joint venture between Frasers Property and Mitsubishi Estate has submitted the highest bid for the Kallang Close site under Singapore’s Government Land Sales (GLS) programme.

The consortium offered $610.75m, or about $1,415 per square foot per plot ratio. The bid was narrowly ahead—by 0.7%—of the second-highest offer, with four bidders in total.

The 99-year leasehold site, located in the Kallang Planning Area, is the first GLS plot released in the Boon Keng, Kallang Bahru, and Kampong Bugis areas in over a decade.

Covering roughly 11,456 square metres along the Kallang River, the site could accommodate around 470 private homes and a childcare centre.

If the bid is accepted, the developers plan to build a residential project along the river, including public access features such as a promenade. This would be the first project jointly undertaken by the two companies.

The site is within walking distance of Kallang MRT station and Bendemeer MRT station and is about four stops from the Central Business District.

Kallang MRT station is also expected to be linked to a future bus interchange under the Kallang Horizon public housing project, which will include retail and community facilities.

The area is served by major expressways, including the Pan-Island Expressway, Central Expressway, and Kallang–Paya Lebar Expressway, providing road access to the city centre, Marina Bay, and Orchard Road.

Schools within a one- to two-kilometre radius include Geylang Methodist, Hongwen Primary School, Bendemeer Primary and Secondary Schools, and Farrer Park Primary School.

The site connects directly to the Kallang Park Connector and is near Kallang Riverside Park, offering access to outdoor spaces.

It is also close to the Kallang Alive masterplan, which aims to develop the area into a hub for sports and entertainment centred on The Kallang

Nearby plans include a future riverfront promenade and the redevelopment of Kampong Bugis, where about 4,000 waterfront homes are expected over time.

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