CDL Polaris took the Lakeside Drive GLS at $1,132 psf ppr — $608 million, top of six bids, 10.4% above the second-highest. That places it third on the OCR land-rate ladder this cycle, behind Bayshore Road ($1,388) and Clementi Avenue 1 ($1,250). On that land base, the formula points to a launch floor near $2,524 psf and a likely average around $2,400 psf — a structural reset for Lakeside that should pull resale ceilings up at Lake Grande and Lakefront Residences.
Source: URA Government Land Sales programme
Lakeside Drive GLS: $608 Million For The Last MRT-Adjacent Plot
City Developments Limited paid $608 million for 13,485 square metres of land directly beside Lakeside MRT — $1,132 per square foot per plot ratio. The bid topped a field of six and led the next-highest offer by 10.4%. Marcus Chu of ERA noted in his tender commentary that the future project "will set a new benchmark price for the Lakeside area," surpassing the two existing Yuan Ching new launches.
That language is correct. The number resets what Lakeside means as a land cost. PropNex's Wong Siew Ying told the press the bid "could become one of the highest land rates for a residential GLS site outside the central region in recent years." Only Bayshore Road ($1,388 psf ppr, March 2025) and Clementi Avenue 1 ($1,250 psf ppr, 2025) have closed higher in this cycle.
This Lakeside Drive condo review (Stage 1, GLS analysis) reads what the $1,132 psf ppr land cost signals before any floor plans, indicative pricing, or showflat details exist for the District 22 site.
How We Review: The QPE Framework
Every Lakeside Drive review on this site runs through our QPE framework — Quality, Price, Exit. This GLS analysis sits at lifecycle stage 1: land cost, breakeven calculation, and what the number suggests about launch pricing. Floor plans and the confirmed Lakeside Drive launch price will be covered in the spoke articles that follow once CDL releases them.
The Land: What CDL's $608 Million Bought
| Detail | Value |
|---|---|
| Site area | 13,485.1 sqm / 145,200 sqft |
| Tenure | 99-year leasehold |
| Land price | $608 million |
| Land cost (psf ppr) | $1,132 |
| Gross plot ratio | 3.6 |
| Maximum GFA | 49,895 sqm / ~537,000 sqft |
| Expected units | 575 residential |
| Commercial component | Up to 1,000 sqm (incl. min. 700 sqm supermarket) |
| Blocks / storeys | 5 blocks × 16 storeys + retail podium |
| Tender bids | 6 |
| Developer | City Developments Limited (CDL Polaris Properties / Commercial) |
| Tender closed | 3 June 2025 |
| Expected launch | Q3 2026 (developer signalling) |
| Expected TOP | 2030 (estimate) |
The plot is bounded by Boon Lay Way to the north, Lakeside Drive to the south, and the East-West Line viaduct overhead. Lakeside MRT (EW26) sits roughly 50 metres from the eastern plot edge. The development brief mandates that the commercial space include a supermarket of at least 700 sqm under a single strata lot — this is daily-needs retail, not a mall.
Source: StreetDirectory
CDL has been the only listed developer to put together MRT-integrated mixed-use sites in this cycle at scale. The Lakeside Drive parcel is the last GLS plot on the Boon Lay-Lakeside-Chinese Garden corridor with direct MRT adjacency for the foreseeable future.
The Bid Spread: 24.5% From Top To Bottom
| Rank | Bidder | Bid | $ psf ppr |
|---|---|---|---|
| 1 | City Developments Limited (CDL) | $608.0M | $1,132 |
| 2 | Frasers Property + Mitsubishi Estate Asia JV | $550.56M | $1,025 |
| 3 | CapitaLand Development + Sing Holdings JV | ~$529.0M | $985 |
| 4 | Wee Hur Holdings | $503.9M | $938 |
| 5 | Hong Leong Holdings + TID JV | $495.18M | $922 |
| 6 | Sim Lian Group | $488.2M | $909 |
Source: URA tender results.
Six is a healthy turnout. The bottom four bids clustered tightly around $909-$985 psf ppr; the top two pulled clear of that pack, and CDL alone went past $1,100. ERA's Marcus Chu called the 24.5% spread "mixed market sentiments" — three-quarters of the field underwrote a more conservative number. CDL is pricing the integration premium at a margin the rest of the bidders were unwilling to match. Whether that judgment proves correct is the launch-day question.
What $1,132 PSF PPR Translates To
Our land-cost-to-launch formula is calibrated against recent OCR new launches:
At $1,132 psf ppr, the formula projects:
This is the floor, not the average. Once the unit mix, premium floors, and stack pricing settle, the realised average is typically 5-10% higher for an MRT-integrated launch. That maps to $2,400-$2,650 psf at the bulk for the project core, with low-floor non-premium stacks closer to entry and high-floor lake-facing stacks pushing toward the top.
Wong Siew Ying's $2,400 psf estimate corroborates the lower end of that range — it is the average a buyer would likely transact at, not the entry point of the cheapest stack.
Land cost to launch — the breakeven layers
| Land cost | $1,132 psf ppr |
| + 72% development costs | $1,947 psf |
| + 8% harmonised costs | $2,103 psf |
| + 20% developer margin | $2,524 psf (formula floor) |
| Likely realised average | $2,400-$2,650 psf |
What that looks like by unit size (pre-guide estimate)
| Unit Type | Est. Size | @ $2,400 psf (avg est.) | @ $2,524 psf (floor) |
|---|---|---|---|
| 1BR | ~500 sqft | ~$1.20M | ~$1.26M |
| 2BR Compact | ~640 sqft | ~$1.54M | ~$1.61M |
| 3BR Compact | ~900 sqft | ~$2.16M | ~$2.27M |
| 4BR | ~1,250 sqft | ~$3.00M | ~$3.16M |
Formula projections only — actual guide pricing will land softer or harder by stack and floor.
CDL: The Quality Argument
CDL is the developer most likely to deliver this site at the quality the catchment expects. Across Newport Residences, Piccadilly Grand, Tembusu Grand, Kassia, and Norwood Grand, build standards have been consistent — facade detailing, landscaping density, common-area specification. A 16-storey, 5-block, 575-unit format with a retail podium sits well within CDL's delivery experience, and an integrated build with a full-line supermarket layered under residential blocks needs that operator competence — logistics, vehicle access, ventilation, noise isolation. The bid premium also suggests this is not a volume play; expected developer margin at a likely $2,400 psf average sits in the high-teens to low-twenties percent range — healthy but not aggressive.
The Location: MRT, Commercial, And A Town Mid-Transformation
Source: StreetDirectory
The site sits inside a working HDB catchment. Jurong West Street 41, 42, and 51 wrap the area north and west of the MRT — most blocks reached MOP between 2008 and 2015, a deep upgrader pool already past their holding period. The next ring out (Jurong West Street 61 and 64) carries another 2,890 HDB units exiting MOP within five years.
Schools within 1 km (verified): Rulang Primary (Jurong West Street 52) and Lakeside Primary (Corporation Walk). Shuqun Primary and Boon Lay Garden Primary sit just beyond the 1 km ring.
MRT and connectivity: Lakeside (EW26) is the only direct-access node on this stretch of the East-West Line. Four stops east, Jurong East serves as the EWL/NSL interchange and the future Jurong Region Line junction. JRL phases complete progressively from 2027 to 2029, opening direct rail to NUS, one-north, and the future JLD commercial core.
Source: StreetDirectory
Jurong Lake District is the standard headline. Most agents will lean on the 100,000-job, 20,000-home, 146,000 sqm office decentralisation thesis as the reason to buy. We are not. JLD is a 15-to-20-year build-out, and the structural transformation does not arrive on this site's TOP date. What arrives on TOP date is MRT adjacency, a working supermarket downstairs, and Jurong Lake Gardens next door. Those are the day-one assets we would price against.
The Competition: Two New Launches, Five Resale Plays
The benchmark question is what someone buying for $2.0-$2.5M in this corridor is comparing.
| Project | Type | TOP / Status | Recent transacted |
|---|---|---|---|
| Lakeside Drive (CDL) | New launch (2026) | Pre-launch | ~$2,400 psf est. |
| The LakeGarden Residences | New launch | TOP Aug 2027 | $2,134 psf median |
| Sora | New launch | TOP Q4 2027 | $2,216 psf median |
| Tengah Garden Residences | New launch | Sold out Apr 2026 | $2,120 psf launch avg |
| Lake Grande | Resale | TOP 2018-19 | $1,853 psf 12-mo avg |
| Lakefront Residences | Resale | TOP 2014 | $1,692 psf 12-mo avg |
| Caspian | Resale | TOP 2012 | $1,546 psf 12-mo avg |
| The Lakeshore | Resale | TOP 2007 | $1,492 psf 12-mo avg |
| Parc Vista | Resale | TOP 1996 | $1,156 psf 12-mo avg |
New launch pricing per developer reporting; resale figures from 12-month transaction averages reported by PropertyGuru and SRX (April 2026 access). New launch and resale sit in different markets — direct PSF comparison is for context only.
The two cleanest comps are The LakeGarden Residences and Sora. Both are new launches, both still selling, both in the same district, both 99-year leasehold. Neither sits next to an MRT station. Neither has a commercial podium downstairs. The Lakeside Drive site's likely premium versus those two — projected at roughly $200-$300 psf at the average — is the harmonised cost layer plus the integration premium expressing itself.
Tengah Garden Residences — which sold 853 of 863 units at $2,120 psf launch average in April 2026 — is the closest read on upgrader appetite at this price band. Tengah is further from the EWL but JRL-integrated; Lakeside Drive is on the EWL directly. A buyer who missed the Tengah launch and wants MRT-on-EWL access has Lakeside Drive as the next opportunity. The earlier Tengah GLS analysis covers the same land-cost-to-launch arithmetic at a $821 psf ppr base — useful as a side-by-side read on how land cost shapes entry pricing.
What This Means For Existing Lakeside Owners
The five resale projects along Boon Lay Way and Jurong West Street 41 — Lakefront Residences, Lake Grande, Caspian, The Lakeshore, Parc Vista — share the same MRT, the same lake, the same retail catchment. None of them currently has a supermarket directly downstairs or a 575-unit launch event reframing the area's price ceiling.
That is likely to change. When a new launch opens near $2,400 psf, the area resale ceiling typically lifts 5-12% over 12-24 months as the amenity base rewrites and buyer comparisons reset. Lake Grande is the most direct beneficiary given product proximity and its 2018-19 vintage; Lakefront Residences has a similarly clear case given sub-5-minute walk to the MRT. The lift-tide pattern tracked the same direction at Lentor with the modern wave, at Tampines with Pasir Ris 8, and at Tengah with Copen Grand pulling up adjacent EC and BTO valuations. Magnitude varies; direction does not.
Lakeside Drive: Our Pre-Launch Read
Downside risk: not rated (pre-guide pricing).
Should I buy Lakeside Drive when it launches? Too early for a verdict — but this Lakeside Drive condo review can name what the $1,132 psf ppr land cost already signals. This is one of the strongest GLS sites awarded in the West this cycle. CDL on quality. MRT adjacency on the East-West Line direct. Mandatory ground-floor supermarket. A working HDB upgrader catchment in Jurong West. Jurong Lake Gardens as the next-door amenity. The Tengah miss-out crowd as a likely demand pool.
The caution is the absolute number. A likely $2,400 psf average is a structural reset for Lakeside — the area's resale ceiling has never tested this band. Buyers should sit down with the stack pricing when it lands and understand the gap between what they are paying and what the immediate resale market currently supports. MRT integration earns a premium, the upgrader demand pool is credible, CDL is the right developer to deliver — but the entry price is leading the area, not following it.
What we will be watching at the preview:
- 1BR / 2BR Compact starting PSF (likely below $2,300 psf entry)
- 3BR Compact starting price (likely between $2.10M and $2.30M)
- Floor premium spread between low-floor and lake-facing stacks
- Common bedroom sizes — 9 sqm minimum for livability
- Confirmed supermarket operator and retail tenant mix
When floor plans, indicative pricing, and showflat details land, the Lakeside Drive review will get a Stage 2 (floor plans) and Stage 3 (Lakeside Drive launch price) follow-up. For now, the question for buyers in District 22 is whether $1,132 psf ppr land translates into the $2,400 psf average that the consensus expects — and whether anyone in the existing Lakeside catchment is ready to pay it.
This Lakeside Drive review will be updated as each milestone lands.
Data sources: URA Government Land Sales tender results, 3 June 2025; EdgeProp Singapore; ERA Singapore tender commentary; The Independent SG; Jurong Lake District planning context; resale transaction averages via PropertyGuru and SRX (April 2026 access).
Published by MJ Review Homes (reviewhomes.sg) | PropNex Realty Pte Ltd | Shaik Amar R058640H | Myra Jalil R058979B | +65 9690 5440 | +65 9738 3705
Lakeside Drive GLS — Adjacent to Lakeside MRT (EW26)
District 22 — integrated MRT + commercial podium beside Jurong Lake Gardens
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All information provided is for general reference only and is based on current planning assumptions. Details are subject to change without notice and may vary depending on final design development, regulatory requirements, and operational considerations. No representation or warranty is made as to the accuracy or completeness of the information provided.
