The recent tender for the Dunearn Road site has drawn significant attention, receiving nine bids—the highest for a private Government Land Sales (GLS) residential site since 2021. The top bid of $491.45 million, or $1,410 per square foot per plot ratio (psf ppr), was submitted by a consortium comprising CSC Land, Sekisui House, and Frasers Property. This bid was just 4% higher than the second-highest bid from CDL, indicating strong consensus on the site’s appeal.
The surge in interest is attributed to the Draft Master Plan 2025, released on 25 June 2025, which has positively influenced sentiment. The plan includes promising developments for Bukit Timah Turf City, with proposals for 15,000-20,000 public and private homes, enhanced transport connectivity, and the conservation of 22 heritage buildings. Tricia Song, CBRE Head of Research, Southeast Asia, noted that the site offers a “first-mover advantage” in a precinct set for rejuvenation over the next 5-10 years.
Despite the competitive bidding, the top land price remains below the levels seen in December 2017, reflecting higher construction costs and potential Additional Buyer’s Stamp Duty (ABSD) implications. The site is strategically located within 1km of Methodist Girls’ School and 400m from Sixth Avenue MRT station, enhancing its attractiveness.
The developer of the Dunearn Road site is expected to build approximately 380 units, with launch prices anticipated to range between $2,900 and $3,000 psf. This development is poised to contribute significantly to the area’s residential landscape, aligning with the broader vision outlined in the Draft Master Plan 2025.
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