Commentary on the Closing of the Tender for GLS Site at Dairy Farm Walk

SINGAPORE, 22 January 2026 - The tender for the Government Land Sale (GLS) parcel at Dairy Farm Walk closed today, 22 January 2026. It attracted strong developer interest, with 5 bidders. The highest bid was submitted by a consortium comprising ABR Holdings Limited, LWH Holdings Pte. Ltd., Macly Capital Pte Ltd and RP Ventures Pte Ltd at $427 million ($962 psf ppr), edging out the next highest bidder by 0.4%. 

“The competitive response reflects sustained developer confidence in the city-fringe segment, particularly in areas with limited new private housing supply and conserved natural surroundings,” said Marcus Chu, Chief Executive Officer, ERA Singapore. 

“With no West-region OCR residential sites on the 1H2026 GLS confirmed List, the Dairy Farm Walk parcel stood out as a rare opportunity for developers targeting this segment, which likely contributed to the strong turnout and competitive bidding. This robust response is underscored by the limited availability of existing new private residential stock in the area, aside from Narra Residences.” Chu added. 

Buyer Demand 

“The Dairy Farm Walk GLS site is expected to see healthy buyer demand, underpinned by a diverse pool of potential buyers, including HDB upgraders in nearby estates and right-sizers from surrounding landed neighbourhoods.”

“The future development is likely to appeal to HDB upgraders and existing condominium residents from nearby estates such as Bukit Panjang, Bukit Batok, and Choa Chu Kang. Between 2024 and 2027, more than 3,100 HDB flats in these areas are expected to fulfil their Minimum Occupation Period (MOP), forming a potential pool of upgraders who may look to this future project for their next housing move. 

These upgraders can retain the familiarity and conveniences of their current neighbourhood while benefiting from the fresher amenities, modern layouts and newer facilities offered by a new private development. This represents a natural progression for HDB upgraders moving into private property, offering greater privacy, security and lifestyle features compared with public housing, while also supporting longer-term wealth accumulation and lifestyle aspirations,” Chu said.

Location Attributes 

“The site is also well-positioned to serve family buyers, with several established primary schools within a 1km radius, including Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace. This further enhances the development’s appeal to owner-occupiers and long-term residents.

The site is close to greenery, making it especially attractive to buyers who value a nature-centric lifestyle. It is located near Dairy Farm Nature Park and Bukit Timah Nature Reserve to the south, as well as Zhenghua Nature Park, Chestnut Interim Green, and the Central Catchment Nature Reserve to the east,” Chu added.

Outlook

“Following the strong take-up rates at several 2025 launches, developer sentiment has remained positive. This is likely to drive more active land replenishment as developers position themselves for the next wave of demand. 

Currently, five GLS sites (excluding Executive Condominiums) remain open for tender, with another seven sites on the 1H2026 GLS confirmed list set to be opened for tender. Developers who are unsuccessful in their current bids may pivot to other opportunities, such as the ongoing tender of another OCR site at Lentor Central.” Chu noted.

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.