Huttons Asia has shared insights on the Government Land Sales (GLS) sites at Lakeside Drive, Dunearn Road, and Woodlands Drive 17, predicting robust interest from developers. Mark Yip, CEO of Huttons Asia, highlighted the strategic locations and potential demand for these sites, which are expected to attract multiple bidders.
The Lakeside Drive site, one of the last available plots near Lakeside MRT station, is anticipated to draw up to three bidders. Its proximity to the popular Rulang Primary School and the Jurong Lake District enhances its appeal. With over 2,500 flats in the vicinity having met their minimum occupation period, there is a significant pool of potential upgraders. The top bid for this site is expected to range between $900 and $1,000 per square foot per plot ratio (psf ppr).
Meanwhile, the Dunearn Road site is the first to be offered in the new Turf City housing estate. Located near top schools and the Sixth Avenue MRT station, it is expected to appeal primarily to Singaporean buyers, who now make up 80% of the Core Central Region (CCR) home purchasers following a 60% Additional Buyer’s Stamp Duty on foreigners. This site could see one to two bidders, with a top bid between $1,250 and $1,350 psf ppr.
The Woodlands Drive 17 site, the first Executive Condominium (EC) parcel in Woodlands South since 2013, is expected to attract four to six bidders. Its proximity to Woodlands South MRT station and the future Woodlands Regional Centre makes it a prime location. The top bid for this site is estimated to be between $700 and $750 psf ppr.
These developments are part of Singapore’s ongoing urban transformation, with significant projects like the Woodlands Health Campus and the Johor-Singapore Special Economic Zone set to enhance the area’s appeal in the coming years.
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