The Urban Redevelopment Authority has concluded the tender for a site at Holland Link, part of the 2H2024 Government Land Sales programme, which could yield approximately 230 units. The tender attracted five bids, with Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd submitting the highest offer at S$368,368,368, or about S$1,432 per square foot per plot ratio (psf ppr). This bid was 22.2% higher than the next highest bid from Wee Hur Development Pte Ltd, suggesting a strong belief in the site’s potential.
The top bid slightly surpasses the land rate of a recent Dunearn Road site, awarded at S$1,410 psf ppr, highlighting the appeal of the Holland Link location despite its distance from the Bukit Timah Turf City redevelopment project. Justin Quek, Deputy Group CEO of Realion Group, noted that the site’s serene environment and proximity to green spaces like Holland Green Linear Park and the Rail Corridor make it attractive to future residents.
The Holland Link site is the first of eight parcels to be sold in the upcoming Holland Plain neighbourhood. It is conveniently located near the future King Albert Park station on the Cross Island Line, enhancing connectivity. Additionally, the site is within 1km of Methodist Girls’ School and close to other prestigious schools, which may have contributed to the competitive bidding.
The area predominantly features low-density housing, and the new land parcels with higher plot ratios could introduce diverse market offerings and pricing potential.
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