The first Government Land Sale (GLS) site in Toa Payoh in 8 years has attracted a bid of $966 million from a consortium comprising CDL, Frasers Property, and Sekisui House.
he first Government Land Sale (GLS) site in Toa Payoh in eight years has garnered a winning bid of $968 million from a consortium of CDL, Frasers Property, and Sekisui House. This bid, which equates to $1,360 per square foot per plot ratio (psf ppr), highlights the strong market confidence in Toa Payoh’s future growth.
The consortium plans to develop two 40-storey towers with a total of 777 residential units, blending contemporary architecture with the established charm of this mature estate. The project is set to enhance the residential appeal of Toa Payoh, benefiting from its prime location, excellent connectivity, and close proximity to key amenities such as schools, markets, and transport links.
This development is expected to inject new vibrancy into Toa Payoh, offering significant potential for both homeowners and investors to capitalize on potential capital appreciation and strong rental demand.
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