Commentary on Dunearn Road GLS Tender Closing

SINGAPORE, 27 April 2026 – The tender for the Government Land Sale (GLS) site Dunearn Road has just closed on 27 April 2026 via a lively and competitive bidding process, which saw a total of 6 bidders participate in the exercise.

“The tender saw strong and closely matched bids, with all six submitted within 8.9% range of each other and the top two bids being separated by only a 3% margin. This suggests a clear alignment among developers on the site’s value, driven by its positioning as the first mixed-use development in the upcoming Bukit Timah Turf City precinct,” said Marcus Chu, Chief Executive Officer, ERA Singapore.

“The winning bid was by Winrich Investment Pte. Ltd. and Metrobilt Construction Pte Ltd, at a tender price of $533 million, or a land rate of $1,625 psf ppr. This land price eclipses the $1,410 psf ppr achieved for the earlier Dunearn Road site, following new benchmark prices set across the RCR and OCR segments over the past year. Land rates in these regions have reached $1,556 psf ppr (Dover Drive, RCR) and $1,388 psf ppr (Bayshore Drive, OCR) respectively, underscoring the continued acceleration in land price growth,” added Chu.

“The site, located in the upcoming Bukit Timah Turf City precinct, spans an estimated 19,045.9 sqm with a potential yield of 330 private residential units, with 1,400 sqm of commercial space. This is the second site in the upcoming Bukit Timah Turf City estate and sits adjacent to the previous Dunearn Road plot that was awarded in July 2025,” Chu noted.

“Strong take-up at recent CCR launches over the past year, such as Skye at Holland and River Modern, where over 90% of units were sold at launch, would have reinforced developer confidence in bidding for this site despite its larger size and quantum,” said Chu.

“This tender reflects sustained developer confidence in well-located CCR sites, particularly within emerging precincts like Bukit Timah Turf City. The area’s long-term transformation potential, coupled with strong take-up at recent launches such as Skye at Holland and River Modern, would have supported bidding sentiment.

Developers are taking a longer-term view, positioning early to capture resilient demand for quality homes in prime and city-fringe locations,” added Chu.

Location attributes

“Being only the second site in the area, it offers a first-mover’s advantage and will also set the tone for future development as part of a premium, master-planned community in Bukit Timah. 

The site is also likely to fall within a 1 to 2km radius of several prestigious schools, including Raffles Girls’ Primary School, Methodist Girls’ School (Primary and Secondary), Hwa Chong Institution (Secondary and Junior College – Integrated Programme), and National Junior College.  

Additionally, it is also a seven-minute walk away from the Sixth Avenue MRT station on the Downtown Line. Connectivity is set to strengthen further, with the opening of the Turf City MRT station in 2032. As part of the Cross Island line, it will provide residents with direct access to key destinations across western and north-eastern Singapore.”

Turf City Masterplan

“Bukit Timah Turf City is planned to become a new mixed public-and-private housing estate of roughly 15,000–20,000 homes, designed around conserved heritage structures such as the former grandstands, extensive green networks, and a new nature park of about 40 hectares. The area will follow a car-lite, walkable approach with strong connections to parks, community spaces and amenities, and will be anchored by the upcoming Cross Island Line’s Turf City MRT station opening around 2032, improving access and supporting a sustainable, heritage-integrated neighbourhood.”

Buyer Demand 

“Buyer demand will likely stem from those looking for a first-mover advantage in the upcoming precinct. While new housing precincts are not uncommon, it is rare that they are in such an established locale, such as in D10/Bukit Timah. Bukit Timah Turf City. Its prime location and prestigious address, along with the scarce number of new homes and condominium developments in the area, will likely appeal to buyers.

Families will likely be drawn into the estate, which is not only accessible via future MRT, but is also located near various reputable schools in the prestigious Bukit Timah education belt. 

Additionally, its proximity to the already established Bukit Timah private housing estate will attract right-sizers, those looking to purchase a new private home close to their family members, or those looking to purchase a new home in a familiar area for legacy planning purposes.” 

Developers’ Interest

“This site has appealed to developers, given the rarity of GLS land parcels released in District 10. This has resulted in pent-up demand in the area, with potential right-sizers from nearby landed estates or young families looking to live near their parents possibly forming a ready pool of buyers.

The site’s location within the future Turf City housing estate is expected to draw in bidders, given the appeal surrounding the new high-density housing estate in one of Singapore’s prime districts. The estate will feature a highly livable and inclusive living environment and will feature both public and private housing as the town is progressively developed in the next 20 to 30 years.

There is much optimism within Singapore’s residential market presently, with the strong sales take-up exhibited across launches in 2H 2025 and 1Q 2026 so far. This is further exemplified by stellar take-up rates for CCR launches. Therefore, we expect to see some developers looking to replenish their land bank. 

Within the 1H 2026 GLS exercise, there are seven private residential sites and two Executive Condominium sites available for developers. These include three sites in the CCR. Developers who may have refrained from bidding aggressively for this site could be taking a measured approach, possibly opting to bid for these other sites instead, which pose lower risk due to their smaller plot sizes and lower bidding quanta.”

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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