The Urban Redevelopment Authority (URA) tender for a residential site at Holland Plain closed with just one bid, submitted by Sim Lian Group. Despite the muted participation, the bid price of $1,491 per square foot per plot ratio (psf ppr) was at the higher end of expectations, according to Tricia Song, Head of Research at CBRE Singapore and Southeast Asia. This follows Sim Lian’s previous acquisition of an adjacent plot at Holland Link in August 2025 for $1,432 psf ppr.
Developers are becoming more selective in their land acquisitions due to economic uncertainties and potential construction cost increases linked to supply chain disruptions from the Middle East conflict. Sites with less attractive features, such as those further from MRT stations, are seeing less interest. The Holland Plain site, which can accommodate 280 units, is located within a 10 to 15-minute walk from King Albert Park MRT station, an interchange for the Downtown Line and the upcoming Cross Island Line.
The Holland Plain precinct is designed to integrate with its green surroundings, featuring park spaces and water-sensitive elements. The URA plans to introduce two new parks in the area. Nearby, the Dunearn Road plots have seen more competitive bidding, with the latest tender closing in April 2026 with six bids.
Sim Lian Group may consider combining the two adjacent plots into a 510-unit development, potentially launching at an average price of $3,000 to $3,100 psf. This move reflects the group’s confidence in the location’s long-term potential.
