Commentary on the opening of tender for land parcel at Newton

SINGAPORE, 26 August 2025 – Due to its prime location and potential as part of Newton’s proposed transformation into a vibrant urban village under the 2025 URA Draft Master Plan, we might expect to see 6 to 8 bidders for the site.

This mixed-use “urban village” will be located next to Newton MRT, which will feature a high-density development, supported by the nearby Newton Food Centre, retail and amenities, as well as around 5,000 new private residences.

The already strong and central location is further supported by Newton MRT interchange at the site’s doorstep. The North-South line offers a one-stop commute to Orchard, and along with the Downtown Line, which provides a short commute to the CBD within 10 minutes.

The site is expected to fall within 1km of ACS Junior, which will eventually house Anglo-Chinese School (ACS) Primary. Given the school’s popularity and the high demand for enrolment, this proximity will be a key draw for families with young children.

Buyer Demand

The lack of GLS sites in the vicinity in recent years has resulted in a lack of supply. Hence, there is pent-up demand for non-landed homes in Bukit Timah/Newton, which ranks amongst the most prestigious addresses in Singapore. In addition, being the first site in the upcoming Newton transformation could forecast strong demand from buyers.

Considering its smaller site size, high GPR of 4.9, and CCR location, the resulting project will likely be a high-rise, luxury development targeted at residents of the nearby Bukit Timah private and landed housing estate.

The CCR has always been a resilient market segment. Despite the April 2023 cooling measures, which adjusted foreigner ABSD rates and reduced foreign demand, we have witnessed an average 1.4% quarter-on-quarter growth in the CCR non-landed price index since then.

Developer Outlook

Recent GLS sites tendered have been well received, including those in the CCR, which typically attract fewer bids given their higher price quantum. Notably, the Holland Link and Dunearn Road sites drew strong interest with five and nine bidders, respectively. With many developers unsuccessful in securing these parcels, competition for the upcoming Bukit Timah site could intensify, potentially leading to more aggressive bids.

The 2H 2025 GLS sites will yield a total of 4,725 units across 10 sites. Within the list is another CCR site at Dunearn Road, which will be open for tender in December 2025. Offering a comparable 335 units, developers will have to weigh their options between the pair of CCR sites.

Given the tight and small size of the site and the high plot ratio, the site could be developed into a high-rise project of around 40 storeys, which might present challenges and a higher development cost. This might influence developers’ bidding and subsequent pricing strategy.

The strong take-up of CCR projects this year – including River Green, The Robertson Opus, and UPPERHOUSE, signifies strong buyer interest for CCR properties and sustained buyer demand in the segment, which could in turn encourage developers to bid actively for this site.

 

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Lisha Rodney
Public Relations Manager, ERA Singapore

Email: [email protected]

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