Dunearn Road (2H 2025 GLS) - Government Land Sale (GLS) Site Analysis

The tender for the Government Land Sale (GLS) parcel at Dunearn Road closed on 28 April 2026. This is the second site in the upcoming Turf City Estate, envisioned to be a new high-density housing estate in prime District 10, and supported with future MRT infrastructure and amenities.

It drew strong developer interest, with six bidders participating in a highly competitive round. The highest bid was submitted by Winrich Investment Pte. Ltd. and Metrobilt Construction Pte Ltd. at $533.0 million, or $1,625 per square foot per plot ratio (psf ppr), edging out the next highest bidder Frasers Property and Sekisui House, who are the developers of the previous Dunearn Road site by 3.0%.

Overall, compared to the other Dunearn Road site that was previously tendered in June 2025, this site commanded a 15.2% premium, from the $1,410 psf ppr that was awarded for the inaugural Turf City site. The premium could have stemmed from the strong performance of CCR launches witnessed in recent quarters, as well as the inclusion of commercial floor space for this site.

Site Details

Table 1: Details of the GLS site

Source: URA, ERA Research and Market Intelligence

Bukit Timah Turf City is envisioned as a sustainable, car-lite precinct, with mobility centred on public transport, walking, and cycling. In line with this planning approach, the development will incorporate a reduced parking provision at approximately 60% of the maximum allowable limit.

The site is also expected to be well-integrated with key nodes within the estate, including the future civic core, the primary amenity cluster around the Grandstand, and the forthcoming Turf City MRT station, supporting a cohesive and accessible urban environment.

Locational Attributes

Neighbourhood Amenities

This site is located within the Bukit Timah in the Core Central Region (CCR), amongst the most prestigious housing estates in Singapore. It is situated amongst several of the 39 gazetted Good Class Bungalow (GCB) areas in Singapore. The majority of homes in Bukit Timah are private condominiums and landed properties. 

Within the area of the site, there are several essential amenities for current dwellers to patronise. Given its exceptional variety of educational offerings, this Dunearn Road site is a choice location for local and expatriate families with school-aged children. .

Table 2: Schools within 2km of the Dunearn Road site

Source: Google Maps, ERA Research and Market Intelligence

Transport and Connectivity

The site is a roughly seven-minute walk to Sixth Avenue MRT Station on the Downtown Line (DTL). Within just five MRT stops, residents can access five interchange stations, offering convenient connections to multiple parts of Singapore.

In future, the upcoming Turf City MRT Station on the Cross Island Line, slated to open in 2032, will further enhance connectivity for residents. It will provide direct links to the western and northeastern regions of Singapore.

Being planned as a car-lite district, Bukit Timah Turf City will have a comprehensive public transport network, including cycling paths and walkways. Bus services are also planned to increase the overall internal connectivity. 

Major roads connected to the site include Bukit Timah Road, Dunearn Road, and Eng Neo Avenue, which connects to the Pan Island Expressway. Within a 10-minute drive, motorists can reach Orchard Road, Beauty World Bukit Timah Shopping Centre, and Holland Village. 

Price and Market Trends

In the past few years, there have been only a handful of GLS sites awarded in the Bukit Timah Planning Area and District 10. There is a pent-up demand for non-landed private homes, with potential right-sizers from the landed estates or young families looking to live near their parents. 

Currently, there is one other land parcel in the GLS programme in the vicinity. The tender for the Holland Plain site will close on 7 May 2026 as part of the 1H 2026 GLS exercise. Bids for the site should be fairly lively, given the track record of bidders for previous Bukit Timah GLS sites such as Holland Link (2H 2024 GLS, 5 bidders), the previous Dunearn Road site (1H 2025 GLS, 9 bidders), and this current Dunearn Road site, with 6 bidders.

Image 1: GLS sites available near Dunearn Road

District 10 has seen few GLS sites made available in recent years. The most recent site awarded was the previous site at Dunearn Road, which was sold for $1,410 psf ppr. Since the harmonisation of GFA post 2023, we have seen a gradual increase in land rate for CCR projects, as demand for homes in these prime districts has held firm.

Table 3: Comparable GLS Sites Awarded

Price performance of condominiums near Dunearn Road

Bukit Timah being is a popular estate, witnessing a steady general price growth for non-landed private homes. Since 2021, the resale prices of non-landed developments in D10 and the CCR saw their median price psf transacted rise by 21.7% and 17.6% respectively since 2021. 

Chart 1: Resale prices of non-landed homes in District 10 vs CCR

Potential Demand/Buyer Profile

As the second land parcel sale in Bukit Timah Turf City since the announcement of its redevelopment, the upcoming condominium on this site could attract several groups of buyers looking for first-movers advantage into the new estate.

There is pent-up demand for non-landed homes in Bukit Timah as the last launch was in 2018 (now Fourth Avenue Residences). Moreover, Bukit Timah Turf City is also a new township, and this will be the first few sites for condominium development. A new estate would mean modern amenities and updated infrastructure (e.g. use of technology) that will resonate with the younger demographic and create a more vibrant environment. 

The previous launch in District 10 was UPPERHOUSE @ Orchard Boulevard, which was launched in July 2025 and has since sold 79% of its available units. Buyers were drawn to the prime location within the CCR, which was further supported the convenience of an MRT station, just one stop from Orchard commercial district.  

Table 4: 1Q 2025 to 1Q 2026 Median Prices for Landed Resale and Non-Landed New Private Homes in District 10 

Source: URA as of 29 April 2026, ERA Research and Market Intelligence

Demand could also come from owners of landed properties in the area looking to right-size to a smaller house, or people who have grown up in this estate looking to stay closer to their parents. Surrounding the Dunearn Road site are landed estates such as at Namly, Duchess, Watten and Greenwood.

Owners looking to right-size to unlock monies for retirement or other purposes may decide to right-size into a condominium unit nearby. Based on the median price of landed homes located in District 10 in 1Q 2026, homeowners can easily right-size into a new condominium. Similarly, their children may also look for their own home in an area where they are familiar with, or to be near their family. 

Table 5: 99-year leasehold condominiums within 2km of Dunearn Road site

Source: URA as of 13 May 2025, ERA Research and Market Intelligence

Within the vicinity, there are a number of private, non-landed developments that are much older. These projects feature depreciating leases, which may also be a concern for homeowners. Their shorter remaining lease and higher cost of maintenance may cause their property price to depreciate faster.

Hence, some owners may choose to upgrade to a new condominium to preserve their property’s value. While newer homes are typically smaller, families where their children have moved out may also require less space. 

Conclusion

The appeal of this Dunearn Road site to developers could be due to its rarity, as well as it being the second condominium site in the new township of Bukit Timah Turf City.  The location of this site in prime District 10 also adds to its appeal to developers and buyers. 

Despite challenges faced by global markets, Singapore’s residential market maintains a largely positive outlook for the foreseeable future. Over the years, Singapore has built a name for itself as a reputable wealth hub in the region, with local real estate being perceived as a quality asset offering stable rental yield for investors.

Separately, Singapore is experiencing a significant wave of wealth transfer. This is largely fuelled by an affluent middle class whose wealth base has been solidified by the rapid value appreciation of their property portfolio.  With Singapore’s aging population, an acceleration in wealth transfer can is  be expected. However, while this influx of capital will empower future generations financially, it could also widen the existing societal wealth gap.

With Singaporeans’ strong belief in real estate investment, much of the anticipated acceleration in wealth transfer will likely benefit the upcoming development on this site.  We expect to see more older homeowners right-size to unlock housing equity for liquidity, and younger buyers receive parental support for property purchases. Accordingly, this influx of capital will sustain long-term demand and price appreciation across Singapore’s residential market.

Additionally, the six bids for the site reflect a strong developer response, riding on the momentum of successful CCR new launches witnessed in the past year, such as River Modern and Skye at Holland, which sold over 90% of their units on launch.

Land rates in other market segments have also risen considerably since the first Dunearn Road site was tendered. 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 for GLS sites.

Due to Dunearn Road coming under the harmonisation rule, as well as its proximity to Sixth Avenue, and the future Turf City MRT station, launch prices could start from approximately $3,200 psf.