The Urban Redevelopment Authority has officially confirmed the winning bidder and price for its New Upper Changi Road site, closing the loop on a record-setting bid that had circulated unofficially since the tender closed three days earlier.

TL;DR

  • URA announced on 4 September 2026 that it awarded the New Upper Changi Road tender to United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd. for $1,425,388,000, or $16,544.65 per square metre of gross floor area (about $1,537 psf ppr).
  • That figure matches the price industry outlets reported when the tender closed on 1 September 2026, a rate widely described as a record for a pure-residential government site outside Singapore's central region.
  • URA's release does not name the parent companies behind the winning entities; independent reporting has linked them to a joint venture of UOL Group, CapitaLand Development and Singapore Land Group.

What did URA just confirm?

On 4 September 2026, URA stated it had awarded the New Upper Changi Road tender to United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd. at $1,425,388,000, or $16,544.65 psm of gross floor area. The site spans 30,769 sqm with a maximum permissible GFA of 86,154 sqm, sold on a 99-year lease.

This matters because when the tender closed on 1 September 2026, URA said only that bids had been received and an award decision "would be publicised at a later date" - it did not name a winner then. Property News Asia covered the closing at the time (propertynewsasia.com/bedoks-new-upper-changi-road-gls-site-draws-record-1-537-psf-ppr-bid/) using independently reported bid figures. This release is the first official, on-the-record confirmation of both winner and price.

Does the confirmed figure match what was reported?

Yes. The confirmed $16,544.65 psm works out to about $1,537 psf ppr, the same figure Mingtiandi and other outlets attributed to the top bid at closing. Mingtiandi reported on 2 September 2026 that the winning offer was 13.8% above the next-highest bid, from City Developments Limited and Hong Realty, with a GuocoLand-led consortium and Sim Lian Group also bidding. URA names only the two successful entities and does not disclose the other bidders' amounts.

Who is actually behind the winning bid?

URA names the successful tenderer only as United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd, the corporate vehicles that submitted the bid. Independent reporting, including Mingtiandi, has identified these as a joint venture between UOL Group, its Singapore Land Group subsidiary, and CapitaLand Development. Property News Asia has not independently verified the shareholding structure of the two named entities, and presents the parent-company link as reported, not URA-confirmed.

Why does official confirmation matter?

Singapore land tenders are typically decided within weeks of closing, but the gap between a closing tender and formal award can leave reported bid prices technically unconfirmed. With this release, the $1,425,388,000 price becomes an official transaction on the public record, giving analysts and developers a firm benchmark for future Bedok-area launches and other 2026 GLS tenders, including the Berlayar Drive site (propertynewsasia.com/the-berlayar-drive-tender-what-a-lone-s-576-78m-bid-tells-us-about-developer-appetite/). It also fits a broader pattern of record activity across Singapore's land and investment markets this year (propertynewsasia.com/singapore-commercial-property-deals-record-highs-2026/), even as new private home sales cooled earlier in 2026 (propertynewsasia.com/singapore-new-home-sales-slowed-in-june-as-launches-dried-up/). URA's release does not include launch timing, unit mix or pricing for any eventual project on the site.

Frequently Asked Questions

Has URA officially confirmed the New Upper Changi Road tender award?

Yes. URA's 4 September 2026 press release confirmed the tender was awarded to United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd. for $1,425,388,000.

How much did the winning bidder pay for the site?

$1,425,388,000, or $16,544.65 psm of gross floor area (about $1,537 psf ppr), for a 30,769 sqm site with up to 86,154 sqm of GFA on a 99-year lease.

Who are the companies behind the winning bid?

URA names only the bidding entities. Independent reporting has linked these to a joint venture of UOL Group, Singapore Land Group and CapitaLand Development, though this has not been confirmed directly by URA.

Sources and Method

Based on URA's press release "Tender award for URA sale site at New Upper Changi Road" (4 September 2026, ura.gov.sg) and Mingtiandi's independent reporting (2 September 2026) on the bid outcome. Background cross-checked against Property News Asia's earlier coverage of the tender closing and prior 2026 GLS reporting. Not financial, legal or investment advice.