CDL and Woh Hup paid $709.25M ($1,455 psf ppr) on 5 February 2026 for Tanjong Rhu's first private land parcel since 1997, beating four rivals. Pro-rating against One Marina Gardens points to a launch of roughly $2,875 psf at the lowest stack, $3,065 average, and $3,435 at protected sea-view floors — about $3.07M for a 3-bedder. Three TEL and Circle Line stations sit within walking distance, and Dunman High is 300m away. What's still missing: floor plans, unit mix, and confirmed pricing, none of which arrive before late 2026.
Source: URA Master Plan / OneMap
Tanjong Rhu Road GLS: $709 million for the first land parcel in 29 years
The last private land parcel sold in Tanjong Rhu was in 1997. On 5 February 2026, that drought ended — and CDL, Singapore's largest private developer by assets, paid $1,455 per square foot per plot ratio to be the developer that breaks it.
Five bidders walked into the tender. CDL and Woh Hup walked out with the site at $709.252 million in a 90:10 joint venture, the Edge reported. The second-highest bid, Sunway MCL paired with AFP Land (a Sinarmas Land unit), came in at $691.89 million, a 2.5% gap.
For a precinct about to absorb 2,875 BTO units between Tanjong Rhu Riverfront I & II and Tanjong Rhu Parc Front, this is the opening private land sale of a township being rebuilt around the new Tanjong Rhu MRT on the Thomson-East Coast Line.
What that $1,455 psf ppr means for you, and how it compares to One Marina Gardens and Bayshore, is what the rest of this review works through.
How we review: the QPE framework
Every review on this site runs through our QPE framework — Quality, Price, Exit.
Quality covers developer track record, land size, layouts, MRT access, views, and facilities. Price examines total price (not psf) and how it compares against what the market has tested. Exit asks who buys from you when it is time to sell, what the demand pool looks like, and what competing supply exists at resale.
GLS articles stop at the land cost arithmetic. Full QPE scoring requires floor plans and confirmed pricing.
The land: what $709.25 million bought
12,239.3 sqm (131,743 sqft) along Tanjong Rhu Road, 99-year leasehold, gross floor area capped at 45,286 sqm. Three 26-storey residential towers. Approximately 520 units, per CDL's stated plan.
| Detail | Value |
|---|---|
| Site area | 12,239 sqm / 131,743 sqft |
| Maximum GFA | 45,286 sqm |
| Plot ratio | 3.7 |
| Tenure | 99-year leasehold |
| Estimated units | ~520 |
| Configuration | 3 x 26-storey blocks |
| Total bid | $709,252,000 |
| Land cost (psf ppr) | $1,455 |
| Tender close | 5 February 2026 |
| Awarded | 6 February 2026 |
Five bids landed at the tender close. The full ranking, per the URA tender results notice:
| Rank | Bidder | Total Bid (SGD) | Land Rate (psf ppr) |
|---|---|---|---|
| 1 | CDL Constellation + Bedrock Ventures (Woh Hup subsidiary) | $709,252,000 | $1,455 |
| 2 | Sunway MCL (Edge) + AFP Land (Sinarmas) | $691,888,000 | $1,419 |
| 3 | Sim Lian Land + Sim Lian Development | $690,300,000 | $1,416 |
| 4 | GuocoLand + Intrepid Investments + TID Residential | $672,692,736 | $1,380 |
| 5 | Kingsford Huray Development | $601,998,000 | $1,235 |
The top three bids cluster within 2.7% of each other. Spreads this tight point to a unanimous developer read on what Tanjong Rhu is worth, not a CDL outlier. The bottom of the field (Kingsford) trails by 17.8%, the typical pattern when one developer prices the site low and the rest price toward where they think it will actually clear.
Source: OneMap
One detail from the URA Master Plan: the parcel directly south of this site, between the GLS plot and East Coast Parkway, carries a 3.5 plot ratio, slightly lower than this site's 3.7. That is not coincidence. The land use directly south is a desalination plant, a low-rise infrastructure use that will not be redeveloped into anything tall. The chance of upper-floor sea-views being blocked from this site is close to zero.
Source: URA Master Plan
For buyers projecting the upper-floor PSF range, that view protection is what justifies the upper-stack premium.
Tanjong Rhu Road GLS price: what $1,455 psf ppr translates to
We run two methods. Both point to the same range.
The standard GLS pricing formula multiplies land cost by 2.23 to cover development costs (+72%), harmonised costs (+8%), and a 20% margin.
Tanjong Rhu Road GLS — Pricing Formula
| Land cost | $1,455 psf ppr |
| + 72% development costs | $2,503 |
| + 8% harmonised costs | $2,706 |
| + 20% margin | $3,245 psf |
Shortcut: land cost x 2.23 = expected launch PSF. Breakeven at $2,706 psf.
Pro-rating against One Marina Gardens gives the second number. OMG launched in 2025 from a $1,402 psf ppr land cost (3.78% lower than Tanjong Rhu) and sold 38% at preview at an average of $2,953 psf, per the developer's release. That is the most directly comparable recent precedent: same year vintage, same GLS structure, similar buyer profile.
| OMG (Actual Launch) | Tanjong Rhu Road (Pro-rated) |
|---|---|
| Land $1,402 psf ppr | Land $1,455 psf ppr (+3.78%) |
| Lowest stack $2,770 psf | $2,875 psf |
| Average $2,953 psf | $3,065 psf |
| Highest premium $3,310 psf | $3,435 psf |
The two methods corroborate. The formula gives $3,245 psf as a minimum; the OMG-pro-rated approach gives $3,065 psf as the likely average and $3,435 at the premium upper floors. The likely Tanjong Rhu Road GLS price range: launch could start as low as $2,875 psf for ground stacks, average around $3,065 psf site-wide, with sea-view upper floors testing $3,435 psf.
In total price:
| Unit Type | Estimated sqft | At $2,875 psf (low) | At $3,065 psf (avg) | At $3,435 psf (high) |
|---|---|---|---|---|
| 1BR | 525 | $1.51M | $1.61M | $1.80M |
| 2BR | 750 | $2.16M | $2.30M | $2.58M |
| 3BR | 1,000 | $2.88M | $3.07M | $3.44M |
| 4BR | 1,300 | $3.74M | $3.98M | $4.47M |
Unit sizes are estimates pending the developer's official price list. Assume CDL's typical mass-market layout efficiency.
The developer: CDL and Woh Hup
City Developments Limited is the largest private developer in Singapore by assets, with 22,000-plus homes built since 1963, multiple BCA Quality Awards, and a recent track record across Newport Residences (2026, freehold, Tanjong Pagar), Piccadilly Grand (with MCL Land), Sengkang Grand Residences, Canninghill Piers, and Irwell Hill Residences.
CDL's layout track record sits in the upper-mid tier. Not a Far East Organization on layout efficiency, not a budget developer either. The product is delivered, finishes are functional, and build quality is consistent. If you bought a CDL launch new and held to TOP, you generally got what was advertised.
Woh Hup is a long-established Singapore construction firm. This is the first joint venture between CDL and Woh Hup on a residential GLS site. The 90:10 split puts CDL in the driver's seat for design, layouts, and pricing decisions. Woh Hup is the construction partner, not a co-developer in any meaningful design sense.
What to expect on layouts: typical CDL three-bedroom efficiency in the 950-1,050 sqft range, dumbbell or semi-dumbbell layouts likely. Sea-facing premium stacks will get the marketing focus given the protected southern view.
The location: Tanjong Rhu's first new township in three decades
The Tanjong Rhu MRT (TEL, TE23) opened on 23 June 2024, eight months before this tender closed. That single line opening unlocked the precinct for new private development after a 25-year drought. Before TEL, Tanjong Rhu had bus-only public transport.
Three stations sit within reasonable walking distance:
| MRT | Line | Straight-line | Walk |
|---|---|---|---|
| Katong Park (TE24) | Thomson-East Coast | ~640m east | ~8 min |
| Tanjong Rhu (TE23) | Thomson-East Coast | ~740m west | ~9 min |
| Stadium (CC6) | Circle | ~800m northwest | ~10 min |
Katong Park is the closest, despite the site being on Tanjong Rhu Road. None are doorstep. The proximity here is "MRT triangle" rather than "MRT doorstep." Buyers used to the 200m walks at Vela Bay or Bloomsbury Residences should calibrate expectations.
Schools
Dunman High School (~300m north of the site) is government autonomous secondary, consistently oversubscribed. Within a 2km cluster: Tanjong Katong Primary, Tanjong Katong Secondary, Kong Hwa School (Special Assistance Plan), Broadrick Secondary, Chung Cheng High Main, Victoria Junior College.
This is a dense school cluster zone east of the city. Phase 2C and distance balloting parents will value this address. The same school-catchment pull has kept prices premium around Kong Hwa and Tanjong Katong Primary in adjacent Katong.
Source: Land Transport Guru
The new township around it
Tanjong Rhu has 2,875 BTO units in the pipeline:
- Tanjong Rhu Riverfront I & II: 2,063 units, June 2024 BTO launch, TOP December 2029
- Tanjong Rhu Parc Front: 812 units, February 2025 BTO launch, TOP September 2029
That is roughly 9,000 new residents (3.09 household average) entering this immediate precinct over 2029-2030. The current commercial hub serving the eastern corridor (Parkway Parade) is already running near capacity. Kallang Wave and Kallang Leisure Mall, the closer alternatives, are limited in scale. The likely outcome is the same pattern Kovan saw before Serangoon NEX opened: residential demand outruns retail until the government commercial planning catches up.
The One Marina Gardens precinct, just west of here, is part of the same axis of new growth. Together, OMG and Tanjong Rhu open up the eastern CBD edge for new private supply, which is what justified CDL's bid.
Source: URA Master Plan
The competition: OMG, Vela Bay, and a 29-year supply drought
Tanjong Rhu has no recent private launch comparable. The existing Tanjong Rhu condo stock (Costa Rhu, Pebble Bay, Sanctuary Green, Water Place, The Waterside, Tanjong Ria) is 25-30 years old. Most are 99-year leasehold with the bulk of the lease elapsed. They show there is buyer demand here, but they are not direct comparables for new-launch pricing on the upcoming Tanjong Rhu condo from CDL.
The relevant comparables are recent GLS launches at similar land cost:
| Project | Land Cost | Expected/Actual Avg Launch | Position |
|---|---|---|---|
| Tanjong Rhu Road GLS | $1,455 psf ppr | $3,065 psf (estimate) | First in precinct since 1997, TEL doorstep |
| One Marina Gardens | $1,402 psf ppr | $2,953 psf (actual launch avg) | Marina South, 38% sold preview weekend |
| Vela Bay GLS | $1,388 psf ppr | $2,850-$3,000 psf (estimate) | Bayshore, doorstep TE29, first in 22 years |
At the $3,065 psf average, a 3-bedroom around 1,000 sqft at Tanjong Rhu Road lands at approximately $3.07M, comparable to a similarly-sized unit at OMG. The trade-off is positioning: Tanjong Rhu is a residential-first precinct with one of the best school catchments east of the city, while OMG sits in a more commercial-mixed Marina South cluster.
Bayshore Vela Bay, the next-door precinct, is being projected at $2,850-$3,000 psf launch with sea-view upper floors potentially testing $3,500-$3,600 psf. Tanjong Rhu's range slots in just below Bayshore at the high end and at par on the average, consistent with the slight land-cost premium and the slightly weaker MRT walk distance (Vela Bay is doorstep TEL).
For comparison context across the GLS pipeline, see also the Hudson Place Residences GLS analysis for one-north and the Dover Drive GLS analysis for Buona Vista.
Should I buy at Tanjong Rhu Road GLS?
Too early for a QPE score on this Tanjong Rhu Road GLS review. No floor plans, no confirmed pricing, no layout depth to assess.
What we can say from the land cost:
- The pricing range likely lands at $2,875 psf at the lowest stack, $3,065 psf average, and $3,435 psf at the premium sea-view upper floors. A 3-bedroom around 1,000 sqft works out to approximately $3.07M at the average.
- The location is one of the strongest school catchments east of the city, with three TEL/CC stations within reasonable walking distance.
- Township growth is already in motion — 2,875 BTO units coming over 2029-2030, with commercial hub planning expected to follow.
- The downside protection comes from the 29-year supply drought in private launches here. There is no recent comparable to discount against.
For buyers waiting on confirmed Tanjong Rhu Road GLS price guidance: the showflat is likely late 2026 or Q1 2027. Watch for the unit mix and the floor-by-floor pricing strategy. The premium stacks with sea-view and canopy clearance (typically above the 9th storey based on the Bayshore precedent) will set the upper bound at around $3,435 psf.
Data sources: URA tender results, EdgeProp Singapore, The Edge Singapore, 99.co, HDB sales launch records, URA Master Plan, OneMap.
Tanjong Rhu Road GLS site
District 15 — first land parcel in Tanjong Rhu since 1997
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Tanjong Rhu Road GLS — QPE Score
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.
