The Bayshore Drive parcel is the second plot planned for the upcoming Bayshore housing estate. Its location directly above the future Bedok South MRT station on the Thomson–East Coast Line gives it a compelling transport advantage, though the MRT integration could also add to construction costs.

The site can be built up to a maximum gross floor area of 149,398 sq m, with 22,500 sq m set aside for commercial use. The number of dwelling units is capped to manage traffic demand in the area. Developers are likely to form consortiums to bid for the site, given the substantial financial commitment involved.

Bayshore Drive’s sizeable retail component helps fill a gap in the precinct, where amenities are dispersed and larger malls such as Bedok Mall and Parkway Parade are further away. The development will account for over a third of the estimated 3,000 private homes planned in the area, and the growing supply could prompt buyers who have been waiting on the sidelines to act.

Analysts expect keen developer interest, though the number of bids could be limited given the plot’s size and the substantial financial commitment involved. With land costs projected to top S$1 billion, developers are likely to form consortiums.

Citing recent suburban state tenders for mixed-use sites that each drew three bids and sold for over S$1 billion, analysts expect the Bayshore Drive site to attract two to four bids, with the top offer likely between S$1,150 and S$1,250 per square foot per plot ratio (psf ppr).

For comparison, a huge mixed-use site in Hougang Central drew three bids before its tender closed in December 2025, with a CapitaLand-UOL joint venture submitting the top bid of S$1.5 billion, or S$1,179 psf ppr. In September 2025, a mixed-use site in Chencharu Close also drew three bids, with a consortium of Evia Real Estate, Gamuda and Ho Lee Group placing the top offer of S$1 billion, or about S$980 psf ppr.

Huttons Asia CEO Mark Yip sees the top offer for the Bayshore Drive site coming in at S$1,200 to S$1,300 psf ppr, translating to a quantum of around S$2 billion.

Rising land prices in the Outside Central Region (OCR) over the past year, combined with the inclusion of commercial components, are likely to push bids higher. The first parcel in the Bayshore precinct — a 10,497.3 sq m site — drew intense competition when its tender closed in March 2025, attracting eight bids. A SingHaiyi-led joint venture submitted the top bid of S$658.9 million, or S$1,388 psf ppr, setting a record land rate for a GLS residential site in the OCR.

SingHaiyi’s Vela Bay project, with about 515 units, is slated for launch in April 2026. With the launch of the larger Bayshore Drive parcel, developers may have limited chances left to snag land in the precinct, as 70 per cent of housing supply in the area will be for public housing and the remaining 30 per cent for private homes.

Strong HDB resale prices in Bedok are expected to drive demand from upgraders entering the market in 2027. In 2025, flats in Bedok aged 15 years or less had median resale prices of S$1.03 million for five-room units and S$860,000 for four-room units, providing substantial equity for upgrading.