Archive for category: Misc

A prestigious collaboration consisting of CSC Land, Sekisui House, and Frasers Property has put in a leading bid of $491.45 million for a 145,173 sq ft, 99-year leasehold government land sale (GLS) site along Dunearn Road. Calculated at $1,410 psf per plot ratio (ppr), this translates into the highest bid for the first private residential plot launched for sale in the upcoming Bukit Timah Turf City housing precinct in District 11 of the Core Central Region (CCR). This prime plot of land has the potential to be transformed into a 380-unit residential project.

With the tender closing on June 26, a total of nine bids were received. “We believe the strong interest in this plot stems from the fact that it is the first site launched for sale within the up-and-coming Bukit Timah Turf City,” says Wong Siew Ying, head of research and content at PropNex.

According to Mark Yip, CEO of Huttons Asia, this was the highest level of developer participation in a GLS tender for a prime site in the CCR since a site along Cuscaden Road also drew nine bids in May 2018.

In absolute terms, the bid price for the Dunearn Road GLS site is the highest since UOL Group and Singapore Land Group submitted a bid of $428.28 million ($1,617 psf ppr) for a GLS plot on Orchard Boulevard in February 2024.

The margin between the top bid and the second-highest bid of $474 million ($1,360 psf ppr) from City Developments Ltd (CDL) was just 3.7%. This relatively narrow gap in bid prices suggests that the developers have a good amount of confidence in the site, despite the expected increase in housing supply in the area, according to Wong from PropNex.

The top bid of $1,410 psf ppr from the joint venture of CSC Land, Sekisui House, and Frasers Property is 8.4% lower than the $1,540 psf ppr bid submitted by Allgreen Properties in 2017. “The current bid price reflects cautiousness in the macroeconomic climate due to global uncertainties,” says Leonard Tay, head of research at Knight Frank Singapore.

The most recent GLS tender in the Bukit Timah area was in December 2017, when Allgreen Properties paid $533 million ($1,540 psf ppr) for a residential development site along Fourth Avenue. The completed 476-unit Fourth Avenue Residences was launched in January 2019, and has since been fully sold. As of May 2025, there have been 18 resale transactions at a median price of $2,520 psf, notes Tricia Song, CBRE head of research for Singapore and Southeast Asia.

Besides Fourth Avenue Residences, most non-landed private homes within a 1km radius of the GLS site on Dunearn Road are freehold, including Floridian, Maplewoods, and The Cascadia, says Song. The prices of these freehold condos range from $2,136 psf for the oldest project in the area, Maplewoods (completed in 1997), to $2,862 psf for the newest, Royal Green (completed in 2021).

Therefore, Song from CBRE expects the developer of the new project on Dunearn Road to launch it at an average price of $2,900 to $3,000 psf. Meanwhile, Mohan Sandrasegeran, head of research at SRI, forecasts launch prices to fall in the range of $2,910 psf to $3,100 psf. He cites data from URA Realis, which shows that new units in the CCR have been sold at an average price of about $2,922 psf over the past five months of 2025.

The highly-anticipated executive condominium (EC) at Miltonia Close is set to become a highly sought-after residential development in Singapore’s northern region. Located within the well-established Yishun town and surrounded by the peaceful Seletar Reservoir, this EC presents a unique combination of tranquility, convenience, and affordability for families seeking to experience the luxuries of a private condominium. Considered a rare gem in the market, Miltonia Close EC Yishun offers exceptional value for money.

The Sixth Avenue MRT station and the upcoming Turf City MRT station on the Cross Island Line are both within a 10-minute walk of the GLS site on Dunearn Road. The authorities are also assessing the technical feasibility of constructing a new exit ramp from the PIE to Tuas, which will enhance connectivity.

Numerous community and recreational facilities, as well as parks, can also be reached within a 10-minute walk. A school located 500m away is also part of the plans, enhancing convenience for families with young children. Moreover, the land parcel is located in an education belt, surrounded by top schools.

“The Draft Master Plan 2025 has provided more clarity on the land usage in Turf City and reduced risks for developers,” says Yip from Huttons. He points to two adjacent sites with commercial use on the first storey, which will provide amenities for the new housing precinct.

According to Soon Su Lin, CEO of Frasers Property Singapore, on behalf of the joint venture, “The site stands out for its excellent connectivity as well as access to amenities and green spaces.” She adds, “Given that the last GLS site in the vicinity was awarded almost a decade ago, we believe that quality developments, particularly in the prime Districts 9, 10, and 11 within the CCR, will continue to be highly appealing to homebuyers due to their strategic locations.”