Balestier Regency Launches Fresh S$255M Freehold En Bloc Bid in District 12
13 October 2026 · PropertySpy Research
Balestier Regency seeks a S$255 million en bloc exit, setting a land rate benchmark of S$1,520 psf ppr near the HealthCity Novena medical corridor.
Key Takeaways
Balestier Regency is making another push for a collective sale at Mandalay Road in District 12, putting up its 72-unit freehold site with a reserve price of S$255 million. Under the URA Master Plan, this parcel carries a 2.8 plot ratio and could yield up to 161 new residences. Factoring in land betterment charges, the land rate works out to approximately S$1,520 psf ppr.
For prospective buyers and investors, this land rate hints at future new launch pricing well north of S$2,500 psf. Situated right by HealthCity Novena and the Toa Payoh corridor, the location benefits from solid tenant demand from healthcare professionals. However, with elevated borrowing costs and tight development margins, developers will price cautiously, meaning replacement costs in this city-fringe pocket are continuing to crawl upward.
"When city-fringe freehold land tenders cross S$1,500 psf ppr, your future entry prices into prime city-fringe addresses inevitably step up." — PropertySpy Market Note
If you are currently holding an older apartment nearby, this tender provides welcome reassurance for your property's underlying land value. Still, collective sales are rarely straightforward. If a deal goes through, owners face the challenge of cashing out and redeploying funds into a pricier replacement market where higher Additional Buyer's Stamp Duty rules and stricter loan servicing ratios restrict your leverage.
Balancing District 12 Freehold Math and Replacement Capital
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