The Urban Redevelopment Authority has closed the land tender for a site at Holland Link which was launched under the Confirmed List of the 2H2024 Government Land Sales (GLS) programme. This site can yield around 230 units.
There were five bids received for this plot, which was within our expectations. The highest bid was from Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd at a bid price of S$368,368,368 or around S$1,432 psf ppr. It slightly exceeded our initial expectations and is around 22.2 per cent higher than the next highest bid from Wee Hur Development Pte Ltd, which may indicate some confidence in this site.
The top bid is also slightly above the land rate of the recent Dunearn Road site, which was awarded at a land rate of S$1,410 psf ppr to CSC Land Group (Singapore) Pte. Ltd., Sekisui House, Ltd. and Frasers Property Phoenix II Pte. Ltd. That site was the first land parcel launched as part of the Bukit Timah Turf City redevelopment project.
While this site at Holland Link is slightly further away from the Turf City redevelopment project and other amenities in that vicinity, it offers unique attributes which will appeal to future residents who are seeking a more serene and tranquil living environment.
This site will also be the first of eight total land parcels to be sold as part of the upcoming Holland Plain neighbourhood. The site is located right next to the new community plain and will also be close to Holland Green Linear Park and the Rail Corridor – offering easy access to green spaces right at their doorstep.
Based on the Draft Master Plan 2025, the future King Albert Park station on the Cross Island Line will be just about 10 mins' walk away from this site, which will greatly enhance the connectivity element down the road. The site is also within 1km distance of Methodist Girls’ School, and is also close to other schools such as Raffles Girls’ Primary School, Nanyang Girls’ High School, Henry Park Primary School, National Junior College, Pei Hwa Presbyterian Primary School, Hwa Chong Institution and Ngee Ann Polytechnic. These factors may have boosted the attractiveness of this parcel, leading to the healthy demand for bids.
Homes in this part of Bukit Timah are also predominantly low-density buildings, with a large number of landed homes surrounding this new neighbourhood. The new land parcels with higher plot ratios may bring about a different market offering and pricing potential to this location.