Huttons Asia has provided insights into the Government Land Sales (GLS) sites at Dorset Road, Telok Blangah Road, and Upper Thomson Road (Parcel A), highlighting factors that may affect developer bids. The doubling of tariffs on steel and aluminium exports to the US could lead to lower steel prices in Singapore, whilst potential interest rate hikes and tightened liquidity might impact developers’ margins. Additionally, the draft Master Plan 2025 could reveal transformative plans, boosting interest in certain areas.
The Dorset Road site, located on the city fringe and near Farrer Park MRT station, is expected to attract around three bidders, with top bids ranging from $950 to $1,050 per square foot per plot ratio (psf ppr). The area has a strong demand for larger projects, as evidenced by the successful launch of Piccadilly Grand.
Telok Blangah Road’s GLS site marks the first launch in the Greater Southern Waterfront, a significant transformation project for Singapore. With excellent transport links and proximity to key business districts, it is anticipated to draw similar interest to the Bayshore Road GLS site, with top bids between $1,200 and $1,300 psf ppr.
Upper Thomson Road (Parcel A), situated above Springleaf MRT station, is expected to see competitive bids due to its strategic location and commercial amenities. The site may attract up to three bidders, with top bids ranging from $900 to $950 psf ppr, considering the upcoming Springleaf Residence and other projects in the area.
These GLS sites offer strategic opportunities for developers, influenced by market conditions and future urban planning developments.
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