Singapore’s property market is set to see heightened competition as developers eye new Government Land Sales (GLS) sites at Dairy Farm Walk, Dover Road, and Tanjong Rhu Road. With unsold inventory dropping to a low of 17,209 units in Q3 2025, developers are keen to replenish their land banks, though they remain selective about tenders, according to Mark Yip, CEO of Huttons Asia.
The Dairy Farm Walk site, located in a private residential enclave near nature and amenities, is expected to attract up to three bidders, with top bids ranging from $900 to $1,000 per square foot per plot ratio (psf ppr). The area boasts good connectivity with nearby MRT stations and schools, making it an attractive option for developers.
Meanwhile, the Dover Road site, the first in the new Dover-Medway neighbourhood, is anticipated to draw up to six bidders. Situated next to the Greater one-north area, Singapore’s premier research and development hub, the site is well-positioned to meet the housing needs of the 50,000-strong workforce in the area. Top bids are expected to range from $1,200 to $1,300 psf ppr.
The Tanjong Rhu Road site, the first GLS offering in the area since 1997, is likely to see up to seven bidders. Located in a waterfront precinct with easy access to the CBD and Changi Airport, the site is expected to attract top bids between $1,300 and $1,400 psf ppr. The area’s transformation under the Kallang Alive Masterplan adds to its appeal.
These GLS sites, set to be launch-ready in 2027, are poised to intensify competition among developers, particularly in the Outside Central Region (OCR), where a high supply of private homes and executive condominiums is anticipated.
