The Urban Redevelopment Authority has just closed the land tender for a site at Dorset Road, which was launched under the 1H2025 Government Land Sales (GLS) programme. The site can yield approximately 425 units.
There were nine bids received for this plot, which was above our expectations. The highest bid was from United Venture Development (2022) Pte. Ltd at a bid price of S$524,300,800 or around S$1,338 psf ppr. This was above our expectations, and was 1.0 per cent higher than the next highest bid from ABR Holdings Limited, LWH Holdings Pte. Ltd., Macly Capital Pte Ltd, RP Ventures Pte Ltd and Wee Hur Property Pte Ltd, which was S$518,888,888 or around S$1,324 psf ppr. Overall, the large number of bids submitted for the tender may indicate confidence in the future sales performance of this site.
The interest in the land parcel was unsurprising. The site will be quite appealing to a variety of future buyers as there are plenty of amenities in the area. The location is a short walk from Farrer Park MRT Station and City Square Mall. Pek Kio Market and Food Centre are also nearby, offering more convenience and dining options for future residents. Kallang Polyclinic and KK Women’s and Children Hospital are a short distance away too. Notable schools within a 1km radius of the site include Farrer Park Primary School, Hong Wen School, and St Joseph’s Institution Junior, which would be ideal for families with younger children.
The most recent GLS site sold in the vicinity is the site at Northumberland Road, which was awarded in May 2021 to Maximus Residential SG Pte. Ltd. and Maximus Commercial SG Pte. Ltd. The site now sits Piccadilly Grand, which sold 77 per cent (315 units) during its launch weekend in 2022 at an average unit price of S$2,150 psf then. It is now fully sold. Notably, a subsale transaction took place in July 2025 at S$2,484 psf, 15.5 per cent higher than the launch average psf. With no new launches in the vicinity since Piccadilly Grand, there could be keen homebuyer interest in the future project.
When the new project launches, HDB upgraders may contribute to the demand for units here, supported by growing resale prices of flats in Kallang/Whampoa. In the first nine months of 2025, the median prices of 4-room and 5-room flats less than 20 years old have remained strong at S$985,000 and S$1.28 million respectively, which may support their home upgrading aspirations. Being located close to the city centre will also make this development attractive to younger professionals or investors looking for rental income, especially given the close proximity to KK Hospital and the MRT which will easily connect residents to other parts of the island.