Updated September 2026. This is a dated review of a 2024 tender episode, not a current market forecast.
What the official release established
URA launched residential sites at Canberra Crescent and De Souza Avenue on 16 April 2024 under the 1H2024 Confirmed List. Together they could yield about 730 homes, and the tenders closed on 18 July 2024. See the URA release.
A land bid is project-specific evidence
Developers price construction, financing, saleable area, planning risk, launch timing and target margins into a bid. A low bid count or cautious price may reflect the site's own constraints and the bidder's portfolio. It does not by itself prove a national downturn.
How to read GLS evidence
- Confirm the exact parcel, tender date, bids and award status.
- Compare estimated breakeven assumptions transparently.
- Review new-sale demand, pipeline supply and financing conditions for the same period.
- Separate a reserve-list trigger, confirmed-list tender and awarded site.
- Avoid projecting a single tender across unrelated locations.
URA's current GLS register should be used for present status. Historical tender caution is one market signal, not a complete cycle diagnosis.