KALLANG CLOSER E S I D E N C E SKALLANG CLOSE · KALLANG · DISTRICT 12
A riverfront address
in a neighbourhood already built.
Kallang Close Residences is the working name for a 99-year leasehold condominium planned beside the Kallang River, off Boon Keng Road. Frasers Property and Mitsubishi Estate won the site at public tender in April 2026 for $610.75 million. URA expects it to hold about 470 homes. No project name, price or launch date has been announced. Confirmed facts are sourced. Estimates are labelled as estimates.
Get to know the project
Next up Preview estimated for 2027. No date announced.
See what is confirmedTHE PROJECT
Kallang Close Residences is the working name for a private condominium planned on the Kallang Close land parcel, off Boon Keng Road in the Kallang area. Frasers Property Phoenix and MJR Investment won the 99-year lease at public tender on 10 April 2026. They paid $610,750,000. MJR Investment is owned by Mitsubishi Estate of Japan. URA expects the site to hold about 470 homes.
No official project name has been announced yet, so this website uses the road name.
The neighbourhood around it is already built. Kallang MRT, Aperia Mall, the Upper Boon Keng food centre and the park along the river are all open today.
Read the published sources| Address | Kallang Close, off Boon Keng Road |
|---|---|
| District | District 12 · Rest of Central Region |
| Tenure | 99 years from 10 April 2026 |
| Developer | Frasers Property Phoenix and MJR Investment |
| Homes expected | About 470 (URA estimate) |
| Site area | 11,456.3 sq m (123,314 sq ft) |
| Maximum floor area | 40,098 sq m (431,611 sq ft) |
| Plot ratio | 3.5 (calculated) |
| Height limit | 110 m above Singapore Height Datum |
| Launch | Not announced. 2027 estimated. |
Site area, floor area, price and lease: URA tender award, 10 April 2026. Unit estimate and height limit: URA site details, 8 December 2025, which notes the final count is up to the developer. Plot ratio is floor area divided by site area, which we calculated rather than copied. District 12 follows EdgeProp and the agency research quoted there.
LATEST NEWS
Research checked
URA awarded the 11,456.3 sq m riverfront parcel to Frasers Property Phoenix and MJR Investment, the Singapore arm of Mitsubishi Estate. It is the first time the two have built anything together.
The developer has not yet announced a project name, a price list or a launch date. Developers normally publish the name, the prices and the launch date a few months before a preview opens.
Read the URA award noticeFour developers bid for the site. Frasers and Mitsubishi bid 0.71% more than CDL, the next highest bidder. The nearby Tanjong Rhu Road plot had drawn five bids two months earlier.
See every bid and what it meansURA awarded a Tanjong Rhu Road site of about 525 homes in February 2026. An adjacent Tanjong Rhu Close plot of about 505 homes is now on its second-half 2026 sale list. Both sit in the Kallang planning area, so buyers here will have more to choose from around the same time.
Read the 2H2026 site listLAND PRICE & TENDER
The developers paid $610,750,000 for the land, which works out at $1,415 per square foot per plot ratio. That rate is the land cost divided by the floor area the developers may build.
Source: URA tender award, 10 April 2026. URA publishes the rate as $15,231.43 per square metre. We converted it ourselves: $610,750,000 divided by 431,611 sq ft of permitted floor area gives $1,415.
99-year residential site
11,456.3 sq m of land
URA publishes every bid it receives. Here are all four, with the land rate we worked out from each.
| Bidder | Bid | Land rate | Gap to winning bid |
|---|---|---|---|
| Frasers Property Phoenix and MJR Investment | $610.75m | $1,415 psf ppr | Winning bid |
| CDL Kallista | $606.42m | $1,405 psf ppr | 0.71% lower |
| Intrepid Investments and TID Residential | $561.74m | $1,301 psf ppr | 8.03% lower |
| Winrich Investment and Metrobilt Construction | $536.20m | $1,242 psf ppr | 12.21% lower |
URA full tender results (PDF), published with the tender closing notice. Intrepid Investments is a Hong Leong Holdings company and Winrich Investment is a Wing Tai company, which is why news reports use the parent names instead.
The top two bids were $4.33 million apart on a $610 million site. Two experienced developers, working separately, arrived at nearly the same number. That suggests the winner paid close to what the market thought the site was worth.
The bottom two bids were much lower, the lowest by 12.21%. Two developers valued the land near $1,410 a square foot, and the other two nearer $1,270.
Land is the largest single cost in the project, so what the developers paid sets the floor for what the homes need to sell at. That is why the land rate is worth watching.
The developer has not published a price. Two research houses have published estimates, and the two are several hundred dollars a square foot apart.
| Who | Estimate | Dated |
|---|---|---|
| CBRE | $2,700 to $2,800 psf average | April 2026 |
| PropertyInsider | $2,950 to $3,330 psf | August 2026 |
The range across the published estimates. The launch price may fall outside it.
PropertyInsider shows its working, so it can be checked. Its list runs: land $610.8m, construction $236.0m, finance $96.0m, professional fees and taxes $102.0m, marketing $63.0m. That totals about $1,106.8m. Divide that by the 431,611 sq ft the developer may build and you get $2,564 per square foot. PropertyInsider then adds a profit margin of 15% to 30%, which produces its $2,950 to $3,330 estimate.
CBRE’s April estimate sits below PropertyInsider’s August one mainly because it assumes a thinner profit margin. Watch the real price list against both.
CBRE’s April estimate as reported by EdgeProp, 7 April 2026. Cost build-up and range: PropertyInsider, data dated 15 August 2026, read 12 September 2026, with its method published separately.
The table applies the lowest, middle and highest published estimates to three unit sizes. The developer has not released a unit mix or any floor areas, so the sizes are PropertyInsider’s assumptions for a project of this type.
Compare across the row. On a three-bedroom, the lowest and highest estimates are about $600,000 apart.
| Home type | Assumed size | At $2,700 psf | At $3,000 psf | At $3,330 psf |
|---|---|---|---|---|
| 2-bedroom | 700 sq ft | $1.89m | $2.10m | $2.33m |
| 3-bedroom | 950 sq ft | $2.56m | $2.85m | $3.16m |
| 4-bedroom | 1,150 sq ft | $3.10m | $3.45m | $3.83m |
Sizes from PropertyInsider’s estimated unit sizes. Each figure combines an estimated price with an assumed size. Use the developer’s price list instead once it is published.
PROJECT TIMELINE
Four milestones are confirmed by URA. Everything after the land award is an estimate, and is marked as one.
It was listed under the name Kallang Avenue at first. URA renamed it Kallang Close when the tender opened.
URA tender launch noticeURA put the site up for public tender with a 99-year lease and an indicative yield of about 470 homes.
Site details (PDF)Frasers Property Phoenix and MJR Investment submitted the highest offer, $4.33 million above CDL.
All four bids (PDF)The 99-year lease runs from this date, so the clock on it has already started.
URA award noticeThese normally arrive together, a few months before a preview. Nothing has been released yet.
Get them on the day they are publishedProjects on state land usually reach the market 12 to 18 months after the land is awarded. Researchers expect this one in 2027, though the developer has not confirmed any date.
Stacked Homes on the likely windowA project of this size usually takes four to five years to build once sales start. No completion date has been published.
PropertyInsider completion estimateDISCOVER KALLANG CLOSE
There is no facility list yet. The site has a river frontage, three train stations within walking distance, a decades-old hawker centre and a stadium district that opened more than ten years ago.
Sources: URA award, URA site details, which set the 500 sq m childcare requirement, EdgeProp, for the developers’ stated promenade plan and the developer track record, and PropertyInsider for station distances. Retail cap: ERA Research, 7 April 2026.
ARTISTIC IMPRESSIONS
No facility list, no site plan and no approved design have been released. These images suggest the kind of setting a riverfront project can have, not what will be built here.
For illustration only. These images do not show the approved design, the facilities, the finishes or the views at Kallang Close Residences. The riverside promenade shown elsewhere on this page is a stated developer intention, not a completed feature.
CONNECTIVITY
Three MRT stations sit within about 800 m of the site, on two different lines that both run today. Kallang on the East-West Line is the closest at roughly 440 m. Bendemeer on the Downtown Line is about 530 m. Lavender, also on the East-West Line, is about 780 m.
Some new projects are sold on a train line that has not opened. Both lines here have run for years, so you can test the commute this week.
The nearest station is a few minutes away on foot. Note that there is a main road to cross in between. ERA puts the walk at about 8 minutes to Kallang and about 10 minutes to Bendemeer.
Distances: PropertyInsider, measured in a straight line from the middle of the site to the middle of a station’s exits. A straight line is not a walking route, and the development has no entrance yet. Boon Keng station on the North East Line is a fourth option at about 1.03 km.
These are counted in stops, not minutes. Add your walk to the station, the wait for a train, and any change of line to get a real commute.
| Destination | Route | What is there |
|---|---|---|
| Bugis | 2 stops from Kallang | Shops, offices, Downtown Line interchange |
| City Hall | 3 stops from Kallang | North South Line interchange, civic district |
| Raffles Place | 4 stops from Kallang | The central business district |
| Paya Lebar | 2 stops from Kallang, going east | Circle Line interchange, Paya Lebar Quarter |
| Bencoolen | 2 stops from Bendemeer | Bras Basah, museums, schools |
| Chinatown | 4 stops from Bendemeer | North East Line interchange |
| Downtown | 6 stops from Bendemeer | Marina Bay offices |
| Bayfront | 7 stops from Bendemeer | Marina Bay Sands, Gardens by the Bay |
Stops counted on the LTA rail network map. Check operating hours and service changes before you rely on any route.
Every distance on this page is measured in a straight line. Your actual walk depends on the crossings, how much is sheltered, which exit you use, and where the development entrance ends up. Try it once in the morning and once after dark.
Check the route on OneMapHDB is building a new bus interchange beside Kallang MRT, as part of its Kallang Horizon housing project, with a sheltered link to the station. It is under construction now. Until it opens, check which services stop along Kallang Road and Boon Keng Road today.
HDB on the integrated interchange (PDF)The Pan-Island Expressway runs east and west. The Central Expressway runs north towards Novena and Bishan. Nicoll Highway heads down to Marina Bay and the East Coast Parkway. Test your own route, in peak hour.
Road access, as reported by EdgePropMake one trip to work in the morning and one home in the evening. Count the crossings, notice how much of the walk is sheltered, and see how full the train is at Kallang. That tells you more than any figure on this page.
FLOOR PLANS & LIVING SPACES
Two homes with the same bedroom count can live very differently. When the real plans arrive, check where your bed and sofa would actually go. Count the storage. Work out how much of the floor area is corridor or balcony rather than room.
The developer has not released any layouts or a unit mix. The samples below are generic reference layouts, shown so you can picture how the space works. Tell us your preferred bedroom types and we will send the real plans as soon as they are released.
For illustration only · Not the official Kallang Close Residences floor plans
IllustrativeOpen full size Official plan pending
Check the bedroom fits a queen bed with room to walk past it, and that the wardrobe is not blocking a window.
IllustrativeOpen full size Shown with study · Not to scale
Check whether the study fits a desk and chair, or only works as storage.
IllustrativeOpen full size Illustrative layout · Not to scale
Check which bedrooms share a bathroom, and how far each one is from it.
IllustrativeOpen full size Illustrative layout · Not to scale
Check the storage. A store room matters more as a household grows.
IllustrativeOpen full size Illustrative layout · Not to scale
Check the kitchen. Separate dry and wet kitchens suit households that cook often.
PRICING & PREVIEW
There is no price list yet. The developer usually publishes a price list once it has planning approval and a preview date. For now, the land-price section sets out what researchers have estimated, and what those figures would mean for a two, three or four-bedroom.
THE INVESTMENT QUESTION
For own-stay, the location already delivers: three MRT stations within about 800 m on two working lines, an established neighbourhood, and almost no new private housing here for twelve years. For investment, a year’s rent would return about 2.4% of the purchase price before costs, using PropertyInsider’s $2,950 psf estimate and Kallang Riverside’s $5.90 psf monthly rent. The Singapore average is about 3.1%. The figure sets an estimated future price against rents being paid today, so revisit it against the actual price list.
This fits an owner-occupier better than an investor. The land cost was high, so the launch price is unlikely to open low. If you buy, plan to hold for seven to ten years, and make sure the monthly cost sits comfortably within your budget.
The National Stadium and the indoor halls across the river opened in the mid-2010s, and an upgrade is running in stages to 2028. Many new launches ask you to believe in a masterplan. This one does not.
New private housing here is rare. This is the first state land parcel for private homes in the Boon Keng, Kallang Bahru and Kampong Bugis pocket in about twelve years, according to Frasers and Mitsubishi.
Most buyers will come from the neighbourhood. Agency researchers quoted by EdgeProp recorded 961 flat sales in Kallang and Whampoa between January 2025 and March 2026, and 807 in Geylang. Of those, 179 and 76 crossed a million dollars. Another 1,000 or so four-room flats in the estate reach the end of their minimum occupation period between 2026 and 2028.
The land was costly. At $1,415 psf ppr it was the second-highest rate in the Rest of Central Region over the previous two years, behind Tanjong Rhu Road at $1,455. A high land cost usually means a high starting price, so compare the launch price against what nearby projects sell for.
No primary school falls within 1 km. If Primary 1 priority matters to your decision, check the distances yourself before you commit.
Two nearby sites will compete for the same buyers. Tanjong Rhu Road, about 525 homes, went to CDL and Woh Hup in February 2026. Tanjong Rhu Close, about 505 homes, is on URA’s second-half 2026 sale list. Both are in the Kallang planning area, and all three projects could be selling at the same time.
Not every home will have a river view. Light industrial units occupy one side of the site, and some homes will face housing across the water instead. The site plan will show which.
Both published estimates are higher than what nearby projects sell for today, including the freehold ones.
The two nearest new projects are freehold, which normally carries a premium. On these estimates the position is reversed: you would pay more, on a shorter lease, for a newer building.
For context, the median price for non-landed homes in the Kallang planning area was $1,958 psf in the first quarter of 2026, against $2,216 psf across the Rest of Central Region. According to ERA, the difference reflects limited new supply, with just three launches in Kallang since 2022.
Medians average across floors and unit sizes. When the real price list arrives, compare like with like: same size, same facing, same floor.
| Project | Tenure | Reported rate |
|---|---|---|
| Arina East Residences | Freehold | $2,643 to $2,904 psf |
| The Arcady at Boon Keng | Freehold | $2,546 to $2,675 psf |
| Kallang Riverside | Freehold | $2,436 psf median, 2025 |
| The Riverine by the Park | Freehold | $2,035 psf median, 2025 |
| Citylights | 99 years | $1,952 psf median, 2025 |
| Southbank | 99 years | $1,920 psf median, 2025 |
Arina East and The Arcady ranges: PropertyInsider, August 2026. The four median figures are CBRE’s, as reported by EdgeProp on 7 April 2026. What other projects sold for does not tell you what this one will.
RENTAL MATH
There is no rental history here, because nothing is built yet. The closest guide is Kallang Riverside next door. Homes there rented at an average of about $5.90 per square foot a month over the year to August 2026, ranging from $3.60 to $8.30.
Take a 700 sq ft two-bedroom at $2,950 psf, or $2,065,000. At $5.90 per square foot, the rent would be about $4,130 a month. That is a gross yield of 2.4%. Gross means before costs: mortgage interest, maintenance, property tax at the higher rate that applies when you do not live there, and any month the home sits empty.
| Target gross yield | Monthly rent needed |
|---|---|
| 2.0% | $3,442 |
| 2.4% (at $5.90 psf, the Kallang Riverside average) | $4,130 |
| 3.0% | $5,162 |
| 3.5% | $6,023 |
Calculation: $2,065,000 multiplied by the target yield, divided by 12. Rent benchmark from PropertyInsider, citing EdgeProp data for Kallang Riverside, a freehold project.
Supply gap and developer comments: EdgeProp, 7 April 2026. Upgrader demand figures come from agency research quoted in the same article. Competing sites: EdgeProp on the 2H2026 sale list. Land rate: URA. If you sell within four years of buying, Seller’s Stamp Duty of 16% down to 4% applies to homes bought on or after 4 July 2025 (IRAS). This is general analysis of a site, not advice about your situation, and it does not forecast any return.
YOUR BUYING GUIDE
Start with your financing. Build a shortlist next, then follow the developer’s booking procedure when sales open. Registering on this website does not reserve a unit or give you priority in a ballot. Nothing is confirmed until you have signed the booking documents and the sale agreement.
Ask a bank for an in-principle assessment first. Add up your cash and CPF, the stamp duties, the legal fees, and a buffer for later payments. HDB and EC owners should check eligibility and the minimum occupation period.
Have this readyYour maximum loan and how much cash you can put in, by when.
Leave your details and tell us which bedroom types interest you. We will send the e-brochure, the price list and the preview schedule as soon as the developer releases them.
Have this readyA confirmed appointment, or the registration steps the developer has published.
Study the plans, sizes, facings and finishes. Rank your choices and decide the most you will pay for each before you go in. Have a second and third choice ready in case your first is taken.
Have this readyA ranked shortlist, with the most you will pay for each unit.
By law, the developer must give you the project and unit information before it can take a booking fee. For licensed developers selling uncompleted homes, the fee is between 5% and 10% of the purchase price. Check the amount and the official payment instructions first. Once you pay, the developer issues your Option to Purchase.
Have this readyAn Option to Purchase for a specific unit.
Appoint a conveyancing lawyer to review the Sale and Purchase Agreement and explain how to exercise the option before expiry. Confirm the balance downpayment and stamp-duty deadlines. IRAS generally requires stamping within 14 days after signing in Singapore; overseas execution follows different timing.
Have this readyA signed agreement, the option exercised, and every payment made on time.
Follow the payment schedule in your signed agreement. Coordinate cash, CPF and loan drawdowns with your bank and lawyer as each notice arrives. Keep the documents and receipts, and keep your contact details current so the developer’s notices reach you.
Have this readyFunds ready for each payment stage in the contract.
BOOKING FEE EXAMPLE
$103,250 is a worked example built on the estimated prices above, not a Kallang Close Residences price. The booking fee is only the first payment. Plan for the rest of the downpayment, the stamp duties and the legal fees as well.
An Option to Purchase costs you money if you walk away. Under the standard developer OTP, a developer may forfeit 25% of the booking fee if the option is not exercised before it expires. Have your lawyer explain the terms before you pay.
On the $103,250 example above, 25% is $25,813. Check your own contract with your lawyer.
General process: URA buying-property guide. Booking fee: Housing Developers Rules. Unexercised-option terms: URA guidance on Options to Purchase. Stamping deadlines: IRAS: when to pay stamp duty. Reviewed 12 September 2026. This page is a general guide. Confirm the details with your lawyer before committing.
Ask for the e-brochure, the price list or an appointment update using the enquiry form.
COMMON QUESTIONS
Every answer shows its sources and marks which figures are estimates.
Kallang Close Residences is the working name for a private condominium planned beside the Kallang River, off Boon Keng Road. Frasers Property Phoenix and MJR Investment won the 99-year lease at public tender on 10 April 2026. They paid $610,750,000. MJR Investment is owned by Mitsubishi Estate of Japan. URA expects the site to hold about 470 homes. The developer has not announced an official project name, so the road name is used instead.
The site is on Kallang Close, off Boon Keng Road, in the Kallang planning area. The plot runs along the Kallang River. Kallang MRT is the nearest station, about 440 m away in a straight line, with Bendemeer and Lavender stations also within about 800 m.
A joint venture between Frasers Property Phoenix Pte. Ltd. and MJR Investment Pte. Ltd., the Singapore arm of Mitsubishi Estate. Frasers Property is listed in Singapore and has built Riviere, Seaside Residences and Parc Greenwich. This is the first project the two companies have built together, so there is no completed track record for the pairing.
$610,750,000, awarded on 10 April 2026. That works out at about $1,415 per square foot per plot ratio. The rate spreads the land price across the 431,611 sq ft of floor area the developer may build. Four groups bid. CDL came second at $606,419,000, a gap of 0.71%.
About 470, according to URA's own indicative figure when it put the site up for sale. URA states that the actual number is up to the developer. The final number will be confirmed when the plans are approved.
No date has been announced. Most projects launch 12 to 18 months after the land is awarded. For an April 2026 award, that means 2027. No date has been confirmed.
No completion date has been published by URA or the developer. Building normally takes four to five years from the start of sales, so researchers expect completion around 2031. That is an estimate only.
There is no price list. Two research houses have published estimates, and they do not agree. CBRE put the likely average at $2,700 to $2,800 psf in April 2026. PropertyInsider published a range of $2,950 to $3,330 psf in August 2026. The gap comes mostly from different assumptions about the developer's profit margin.
No prices exist yet. For a three-bedroom of about 950 sq ft, the published estimates suggest $2.56m to $3.16m. Both the price and the size are assumptions.
A 99-year lease, running from 10 April 2026, the date the site was awarded. So the lease started running in April 2026. The sale documents will state how many years remain.
Three stations are within about 800 m of the site, on two operating lines. Kallang on the East-West Line is about 440 m away. Bendemeer on the Downtown Line is about 530 m. Lavender, also on the East-West Line, is about 780 m. Boon Keng on the North East Line is a fourth option at about 1.03 km. These are straight-line distances, so the real walk is longer.
No. The nearest is Bendemeer Primary School, about 1.12 km away on research data. It is just outside the 1 km ring that gives priority in Primary 1 registration. Hong Wen School, Farrer Park Primary and Geylang Methodist (Primary) are all in the 1 km to 2 km band. Vacancies and ballots change every year, so check the current figures on MOE’s vacancies page. Check the official distance on MOE SchoolFinder once the development has an address.
URA set two conditions on the site. At least 500 sq m of floor area must be used for a childcare centre, and buildings cannot rise more than 110 m above sea level. ERA's research adds that shops are capped at 115 sq m. The developers have also mentioned plans for a public riverside promenade.
No. Every image here is an artistic impression. They show the kind of setting a riverfront project can have, not the approved design, facilities, finishes or views at Kallang Close Residences. The floor plans shown are illustrative layouts, not the developer's plans.
No. The form sends us your details and what you are looking for. It does not hold a unit for you or give you priority in a ballot. Units are allocated through the developer's own booking procedure, which has not been published.
BE FIRST TO KNOW
Tell us what you are looking for. Ask for the e-brochure, the price list or a preview appointment, and pick a time that suits you. We will send each one the day it is released.
Sending an enquiry does not reserve a unit or confirm a viewing.
This website publishes an independent guide to the Kallang Close site and takes enquiries about it. The confirmed facts are drawn from URA’s tender notices, with each link placed beside the figure it supports. Where a number comes from a research house or a news report instead, that source is named in the same sentence. Where we calculated something ourselves, such as the land rate or the plot ratio, the page says so and shows the arithmetic.
Estimates are labelled as estimates every time they appear. All images are artistic impressions and all floor plans are illustrative layouts. The developer has released no design, no unit mix and no prices as at the review date below.
We review the page whenever it is updated. An update date does not mean every outside dataset was refreshed on that day. Use the enquiry form to flag a correction. The developer’s approved documents remain the reference for any purchase.
Primary sources: URA tender award, 10 April 2026 · URA tender results, all four bids (PDF) · URA site details and indicative yield (PDF). Market context and analyst estimates: EdgeProp, 7 April 2026. Research data for distances, schools, rents and the cost model: PropertyInsider. Schools should be checked on MOE SchoolFinder.
URA’s own documents differ slightly, so we used the award notice. It gives the site area as 11,456.3 sq m and the floor area as 40,098 sq m. The earlier sale notice gave 11,456.8 sq m and 40,099 sq m.
Reviewed 12 September 2026. This is an independent project information and enquiry website. It is not the developer’s official website.
“Kallang Close Residences” is a working name taken from the road, not an official project name. The final name may be different. The estimated prices, unit count, launch window and completion date on this page are analyst projections, shown for illustration. None of them is an offer, a representation or a guarantee. Walk times, distances and school distances are approximate and should be checked independently. Nothing on this page forms part of a contract or constitutes financial advice.