A freehold 13,523 sq ft site at Jalan Ulu Siglap in Singapore's District 15 has been listed for sale at S$28 million, equating to roughly S$2,070 psf. Currently operating as a nursing home, the property offers near-term income but carries URA zoning and change-of-use risks that buyers must price carefully.
A freehold residential site at Jalan Ulu Siglap spanning 13,523 sq ft has been put up for sale at S$28 million, translating to a land rate of approximately S$2,070 per sq ft based on its existing footprint. The property sits in District 15, one of Singapore's more tightly held freehold corridors along the eastern flank of the island.
The site is currently operating as a nursing home, which gives a prospective buyer immediate rental income while planning approvals are pursued. For investors and developers, the freehold tenure is the headline draw, freehold land in District 15 rarely surfaces at this scale, and the S$28 million quantum is sized for mid-tier developers or family offices rather than the large institutional players who typically require larger land parcels to justify overhead.
Key figures worth tracking before any offer:
- Site area: 13,523 sq ft
- Asking price: S$28 million
- Indicative land rate: ~S$2,070 psf on existing area
- Tenure: Freehold
- Current use: Nursing home (operational)
- Location: Jalan Ulu Siglap, District 15, Singapore
Redevelopment potential hinges on what URA's Master Plan zoning allows for the plot. Buyers will need to conduct their own due diligence on gross floor area allowances, plot ratio, and whether a change-of-use application is required to pivot away from the current healthcare designation. Singapore's planning authority has been deliberate about protecting healthcare-use sites in residential zones, so any residential or mixed redevelopment play carries regulatory risk that should be priced in. The presence of an operating nursing home also means any transition timeline is not straightforward, vacant possession would need to be negotiated separately.
Comparable freehold transactions in the East Coast and Katong belt have drawn steady interest from boutique developers targeting the luxury landed and small strata market. Demand from high-net-worth buyers for freehold addresses in District 15 has remained firm even as broader Singapore residential volumes have moderated in 2026 under higher borrowing costs.
Why it matters: Freehold land below the S$30 million mark in District 15 is a shrinking pool, and this listing will likely attract competitive interest from developers who have been priced out of larger en bloc plays. Investors evaluating this asset should commission an independent URA zoning check and model at least two exit scenarios, redevelopment and held-income, before the expression-of-interest deadline, as the current nursing home use introduces both a cash-flow buffer and a planning complexity that will shape final pricing.
