The Urban Redevelopment Authority (URA) has released three government land sales (GLS) sites for tender in Upper Thomson Road (Parcel A), Dorset Road, and Telok Blangah Road. These sites, collectively, have the potential to yield 1,765 new private residential units. Wong Siew Ying, Head of Research and Content at PropNex, commented on the mixed interest expected across these plots, with the Telok Blangah Road site anticipated to attract significant attention due to its location on the former Keppel Golf Course site.
The Telok Blangah Road site is poised to offer 745 new private homes and is the first private housing plot on the former Keppel Golf Course site. The area is within walking distance of the Telok Blangah MRT station and close to amenities such as VivoCity mall and Labrador Nature Reserve. Wong noted that the site could appeal to both owner-occupiers and investors, particularly HDB upgraders from nearby areas. The site is expected to attract 5 to 6 bids, with a top bid land rate of $1,250 to $1,350 per square foot per plot ratio (psf ppr).
The Dorset Road plot, offering 425 residential units, is near the Farrer Park MRT station and several schools. The area is set to benefit from the upcoming Piccadilly Galleria mall. Wong expects the site to draw 4 to 5 bids, with a top bid land rate of $1,100 to $1,200 psf ppr.
The Upper Thomson Road (Parcel A) site, which can accommodate 595 residential units and 2,000 square metres of commercial space, is linked to the Springleaf MRT station. The URA has provided more flexibility for this site, which may encourage interest after it previously drew no bids. Wong anticipates 1 to 2 bids, with a top bid land rate of $900 to $1,000 psf ppr.
“`
