Anticipation has been building in Singapore’s property market as the Tanjong Rhu site, representing the first new residential launch in this established neighborhood in approximately 30 years, prepares to hit the market with projected prices hovering around S$2,900 per square foot.
Tanjong Rhu’s first residential launch in three decades targets S$2,900 per square foot amid heightened market anticipation.
The CDL-Woh Hup joint venture secured the top bid at S$709.25 million for this 99-year leasehold private housing site, translating to S$1,455 per square foot per plot ratio after five bidders competed when the tender closed on February 5, 2026.
The winning bid exceeded initial estimates that pegged land acquisition costs between S$1,300 and S$1,400 per square foot per plot ratio, setting the stage for what developers plan as a 525-unit residential development.
This land price directly impacts eventual launch pricing, which Knight Frank research indicates could range from S$3,000 to S$3,100 per square foot, though more conservative estimates hover around S$2,900 per square foot based on comparable recent project performance.
Market watchers have noted that existing Tanjong Rhu developments like Arena East are already crossing close to S$3,000 per square foot average, though older units in the area typically feature larger floor plates than what the new development will likely offer.
The pricing reflects the neighborhood’s proximity to Kallang and its established community context, with the joint venture planning approximately 520 units configured to accommodate diverse target market segments within URA-approved guidelines.
This development forms part of the government’s broader housing supply strategy, with three GLS sites including Tanjong Rhu collectively yielding approximately 1,650 units.
The Tanjong Rhu component contributes 525 units toward the H1 2026 confirmed list, representing a significant addition to the government land sales program targeting 4,725 units released via the confirmed list.
After a 28-year gap in new site releases for this location, the development signals renewed attention to this mature estate, with launch pricing projections subject to evolving market conditions and the developer’s positioning strategies as they finalize unit mix and floor plate configurations.
The site is located between Tanjong Rhu and Katong Park stations on the Thomson-East Coast Line, with both stations approximately 600 to 700 metres away.
The site benefits from a height limit of 95-100 metres, allowing developers to maximize the scenic potential of the waterfront-adjacent location.
The location is also served by nearby amenities including Jalan Batu Hawker Centre and Dunman High School.
