The tender for the second land parcel at Dunearn Road has closed on a firm note, with a top bid of $1,625 psf ppr submitted by the consortium of Wing Tai and Metro Holdings. This marks a notable increase from the $1,410 psf ppr achieved for the first land parcel, reflecting continued developer confidence in the long-term potential of the Turf City precinct. 

A key factor supporting the stronger land price is the inclusion of a residential development with commercial space at the first storey. Such configurations tend to enhance overall project attractiveness by introducing convenience driven amenities such as retail and supermarket offerings. In emerging precincts like Turf City, where infrastructure is still progressively taking shape, this added layer of liveability can support stronger end user demand and contribute to pricing resilience over time. 

The tender attracted a total of 6 bidders, moderating from the 9 bidders seen for the first parcel. This suggests that while interest in the site remains healthy, developers are becoming more selective in their participation. The moderation in bidder numbers is not unexpected, particularly in light of the broader ramp up in Government Land Sales supply and the upcoming GLS site at the Holland Plain precinct. With more opportunities available, developers are likely to adopt a more measured approach towards capital deployment, focusing on risk management and project execution considerations rather than bidding aggressively across all sites. 

In addition, the inclusion of a commercial component introduces a higher degree of development complexity, which may have further contributed to the more selective participation. Broader macroeconomic conditions, including volatility in global energy prices, could also influence construction and financing costs, reinforcing a more calibrated bidding strategy among developers. 

Looking ahead, the first Dunearn Road parcel, tentatively known as Dunearn House, is expected to launch around 3Q2026, with an estimated 380 units. As the first private residential project within this part of the Turf City precinct, it is likely to establish initial pricing benchmarks and benefit from an early mover advantage. In comparison, the second land parcel is expected to yield around 330 units and may take on a more low to mid rise profile, contributing to a more diverse mix of housing options within the area. 

The site’s location within the Bukit Timah planning area further supports its long term appeal. It is situated near Sixth Avenue MRT station on the Downtown Line and in proximity to the future Turf City MRT station on the Cross Island Line, offering strong connectivity to key employment and lifestyle nodes. In addition, the broader Turf City transformation is expected to deliver approximately 15,000 to 20,000 homes, alongside new amenities, green spaces and community infrastructure, positioning the area as a well planned and highly liveable residential cluster. 

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg