The Urban Redevelopment Authority (URA) has announced the results of the government land sales (GLS) tender for the Dunearn Road site, marking the first private residential plot in the new Bukit Timah Turf City housing precinct. The site, which could accommodate 380 new private homes, attracted nine bids, making it one of the most competitive GLS tenders for a non-Executive Condominium (EC) site since September 2021.
The top bid of $491m was jointly submitted by CSC Land Group, Sekisui House, and Frasers Property, translating to a land rate of $1,410 per square foot per plot ratio (psf ppr). This bid was 3.7% higher than the second-highest offer of $1,360 psf ppr from City Developments. Wong Siew Ying, Head of Research and Content at PropNex, noted that the narrow gap between the top two bids indicates developer confidence in the site, despite the anticipated increase in housing supply in the area.
The interest in the Dunearn Road plot is attributed to its status as the inaugural site in the emerging Bukit Timah Turf City, which is set to become a self-sustaining housing estate with the future Turf City MRT station on the Cross Island Line. The Draft Master Plan 2025 outlines plans for 15,000 to 20,000 housing units in the area, along with amenities such as schools, healthcare facilities, and recreational spaces.
The Dunearn Road site is particularly appealing due to its proximity to the Sixth Avenue MRT station and several prestigious schools. The location is also near Good Class Bungalow areas, enhancing its residential appeal. With an estimated 380 units, the project size is considered manageable, and future commercial offerings are expected as the Bukit Timah Turf City develops. The last nearby GLS site, Fourth Avenue, was awarded in 2017 and has since sold out, indicating strong demand in the area. The projected average selling price for the Dunearn Road site is expected to exceed $2,900 psf.
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