The Urban and Development Board (URA) has a private residential site in Pine Grove, as part of Government Land Sales (GLS), in 4th quarter of 2021.

This land parcel located in Western Region of Singapore and is bounded by Pandan Valley, Ulu Pandan Road and Pine Grove.

It has a site area of xxx,xxx square feet and is allocated to be developed into condominium with approximately 520 residential apartments






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Project  Pine Grove Condo
Location  Pine Grove
District  21
Tenure  99 leasehold
Site Area
Plot Ratio
Expected TOP:
Total Units
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Eligibility SC, SPR and Foreigner
Project  Pine Grove Condo
Location  Pine Grove
District  21
Tenure  99 years leasehold
Site Area
Plot Ratio
Expected TOP:
Total Units
Total Carpark
Development  Condo comprising of 
Unit Type:
Eligibility SC, SPR and Foreigner


New and Upcoming Condo in Pine Grove


New and Upcoming condo at Pine Grove


Singapore’s property market has one of the best long term returns on equity performance out of most investment instruments available.

And that has to do largely with the strength of the Singapore dollar, the availability of high leverage, and the attraction of Singapore to the international audience, not just as a region to invest in, but as an asset class on its own.


Before you embark on searching for your investment property, it is important to have gone through this checklist below.

1. Finances

We will advise about your finances to understand the initial cash/Central Provident Fund (CPF) outlay required.

Having an experienced third party do an assessment would help you prevent costly beginner mistakes that could seriously hamper your journey to financial freedom.

We will help you assess the minimum cash and CPF required for the down payment, buyer stamp duties, legal fees and miscellaneous costs, as well as advise you on an investment road map for the best acquisition strategy as you progress along and acquire more properties.

2. Loan eligibility

The current Total Debt Servicing Ratio (TDSR) framework makes it especially important for investors to check on their maximum loan eligibility so that there are no nasty surprises after placing a deposit.

In this case, this should be one of your priorities early on and we will assist you on this.

3. Manner of holding

For investors who already own an HDB flat or private home and are acquiring their second property, we will advise you on the various options available to optimise tax savings (which can be significant) and qualify you for more funding options.

This is especially important for those who intend to grow their portfolio of properties and would require access to higher leverage and lower costs.

4. Investment goal and horizon

Having a clear idea of your investment goal horizon helps you narrow down the segments you should focus on; saving you precious time and energy.


– Are you investing in properties to provide a consistent source of passive income?

In this case, focus on areas with low vacancy rates and a high tenant catchment pool.

– Are you investing in properties short term to ride the market trend?

In this case, are you financially prepared to hold on in case a black swan event occurs?

– Are you investing in properties with en bloc potential?

In this case, are you well advised on which properties have genuine potential?

Not all old properties have en bloc-ability.

After going through the above points, the following are factors that have served me and my clients well in the past as an investment criteria checklist.


Pine Grove (Parcel A) plot, attracted five bids in what analysts described as one of the tightest races in recent memory.

A joint venture between UOL Group and Singapore Land Group came out tops with a bid of $671.5 million or $1,318 psf ppr - just $800 ahead of a bid from a unit of Allgreen Properties.

Despite the tight race, the number of bids was still lower than the average of seven received for tenders that closed earlier this year, noted Ms Catherine He, Colliers' head of research in Singapore.

Both leasehold sites are in the city-fringe area and are expected to yield a total of 1,555 homes.

UOL Group chief investment and asset officer Jesline Goh said the Pine Grove plot near Mount Sinai Rise will be developed into a 520-unit estate.

Keen interest from home buyers and investors is expected, given its proximity to One-North, Holland Village, The Clementi Mall and The Star Vista, as well as the upcoming Clementi Nature trail, Ms Goh said.

Mr Lam Chern Woon, head of research and consultancy at Edmund Tie, said that despite the site's positive attributes, developers are "more cautious, given the sombre economic outlook, rising prices and interest rates, and concerns about competition should the neighbouring Parcel B plot in Pine Grove be triggered and awarded".

Still, there is likely to be pent-up demand, given the absence of new large projects in the Ulu Pandan and Pine Grove area in the past decade, and the possibility of a Cross Island MRT station near Sunset Way, said Mr Lee Sze Teck, Huttons Asia's senior director of research.

Mr Ong Teck Hui, senior director of research and consultancy at JLL, said the lacklustre tender participation for larger sites like Dunman Road showed developers are mostly cautious despite low unsold inventory and robust sales at new launches Piccadilly Grand and Liv@MB.

"The top bid for the Dunman Road site was 20.3 per cent higher than the next bid at $1.067 billion, or $1,122 psf ppr, which shows a restrained attempt to compete, " he said.

Ms Tricia Song, CBRE's head of research for South-east Asia, noted that the site carries heightened development risk - a 35 per cent Additional Buyer's Stamp Duty if the developer fails to sell all units within five years.

"There's also competition from ongoing launches, and upcoming launches of a neighbouring GLS site at Jalan Tembusu, which could be built up to 640 units and an en-bloc site at Thiam Siew Avenue where 800 units are planned, " she added.

But the $1.238 billion bid, or $1,350 psf ppr, for the Dunman Road land topped the previous record of $768 million or $1,302 psf ppr for the Jalan Tembusu site, awarded in January this year, noted PropNex Realty head of research and content Wong Siew Ying. 

Mr Steven Tan, chief executive of OrangeTee & Tie, said the strong performance of mega projects such as Normanton Park could have boosted bidders' confidence that there is still demand for large projects, adding: "The most recent launch in the vicinity was Liv@MB, which transacted at an average price of $2,407 psf, indicating healthy demand."


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