Property consultants offered mixed interpretations of the tender closing for the Berlayar Drive government land sales site, which received only one bid despite achieving a higher-than-expected land rate. Intrepid Investments and GuocoLand submitted the sole offer of $576.78m, equivalent to $1,515 per square foot per plot ratio (psf ppr). This was about 14% higher than the $1,326 psf ppr paid for the neighbouring Telok Blangah Road site in November 2025. CBRE said the bid established a new benchmark land rate for a purely residential site in the Rest of Central Region. However, the record land rate indicated that the bidder remained confident in the area’s growth prospects.