The Urban Redevelopment Authority has concluded the tender for a site at Upper Thomson Road (Parcel A), part of the 1H2025 Government Land Sales programme. The site, which can accommodate approximately 595 residential units and 2,000 sqm of commercial space, received five bids. The highest bid came from Wee Hur Property and GSC Holdings at S$613.939m, surpassing the next highest bid by 2.1%.
The tender’s robust participation reflects confidence in the site’s future sales potential. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted the site’s appeal due to its direct connection to the Springleaf MRT station on the Thomson-East Coast Line and proximity to green spaces like Springleaf Nature Park. “Future homes here may appeal to buyers looking for homes within a tranquil living environment and walking distance to an MRT station,” Quek stated.
The popularity of new homes in the area, including the nearby Lentor Hills, supports this optimism. The adjacent Parcel B, now Springleaf Residence, saw a 92% uptake during its launch weekend. Similarly, Lentor Modern, an integrated development, sold 84% of its units during its launch weekend in September 2022.
The rarity of integrated developments with commercial components and MRT access has heightened interest. Recent projects like Parktown Residence also demonstrated strong demand, selling over 87% of units during its launch. This trend suggests developers are eager to secure such desirable land parcels.
