The Urban Redevelopment Authority (URA) has just closed the tender for a land parcel at Dover Drive. It can yield around 625 units, and will contain approximately 3,000 sqm of commercial space.

There were 6 bids received for this plot. The highest bid was from CNQC Realty (Prime) Pte. Ltd, Forsea Residence Pte. Ltd and Jianan Realty Investments (1) Pte. Ltd at a bid price of S$ 951,000,999 or around S$1,556 psf ppr.

Healthy participation in this land tender exercise was not surprising. As the first site launched in the new Dover-Medway neighbourhood, demand for the new residences here will likely be high. Developers may have wanted to tap on the first-mover advantage in the area, leading to healthy tender participation this round.

The addition of 3,000 sqm of commercial space, inclusive of a supermarket and an early childhood development centre, will also bring amenities to the future residents here, adding to their convenience as other plots of land are slowly released for sale and development. Moreover, the site is near One-North MRT station and close to the AYE, ensuring high connectivity to other parts of Singapore.

This site will likely appeal to families and investors seeking rental income, given its proximity to a number of schools. It is near NUS, United World College, Singapore Polytechnic, and within a 1km radius of Fairfield Methodist School (Primary). Professionals may also be attracted to the location, as it is close to the One-North business and technology hubs.

The nearest land parcels to this plot would be the sites at Slim Barracks Rise (Parcel A and B), which were awarded in October 2021, at land rates of S$1,246 psf ppr and S$1,210 psf ppr, respectively. More recently, a parcel at Media Circle (Parcel A), was awarded in March 2025 at a land rate of S$1,037 psf ppr. While there are other land parcels in the new Dover-Medway area slated for launch eventually, it may be a while before these enter the market.

Remaining unsold units in the area remain relatively low, with other new launches in the area such as Bloomsbury Residences, Blossoms by the Park, The Hill @ One-North, and Lyndenwoods having sold out most of their units. Hence, any further demand for homes in the area will be directed to the upcoming project here.