21 Feb 2024
GLS Commentary on Orchard Boulevard & Plantation Close (EC)
Property Insight

The Government Land Sales (GLS) commentary sheds light on the highly anticipated tender outcomes for Orchard Boulevard and Plantation Close (EC), highlighting the buoyant sentiment and strategic investments in Singapore's property market. Orchard Boulevard, nestled in the prestigiousCore Central Region (CCR), attracted a winning bid of $428.3 million by United Venture Development,a testament to the location's desirability and scarcity of such prime development opportunities. Thisbid underscores the competitive nature of the tender, narrowly surpassing the second-highest bid by2.5%, reflecting developers' eagerness to secure a foothold in this elite enclave.

The Orchard Boulevard site is characterized by its exceptional connectivity, offering easy access to the vibrant Orchard Road shopping district and seamless commuting options via the OrchardBoulevard MRT station on the Thomson-East Coast Line (TEL). The strategic location, coupled with the rarity of new launches in the area, enhances the site's appeal, making it an attractive development prospect poised to cater to the nuanced demands of affluent buyers and investors looking for luxury and convenience.

On the other hand, Plantation Close in the emerging Tengah area garnered attention with a top bid of$423.4 million from Hoi Hup Realty and Sunway Developments. This reflects developers' confidence in the region's growth potential, marking it as a focal point for substantial residential development.The bid for Plantation Close (EC) signifies a strategic move by developers to establish a significant presence in this new residential hub, underpinned by the successful acquisition of adjacent sites and the area's transformative development plans.

The commentary underscores the Plantation Close site's potential to foster vibrant residential communities, leveraging its strategic location and the unique position of Executive Condominiums(ECs) in the housing market. ECs, bridging the gap between public and private housing, offer a blend of premium lifestyle amenities and future privatization prospects, making them a desirable investment for both developers and buyers. The regulated launch timeline for ECs ensures a balanced release of units, aligning with market demand and minimizing competition.

Both Orchard Boulevard and Plantation Close tenders reflect a strategic pursuit of opportunities within Singapore's diverse property landscape, from the high-end luxury market in the CCR to the growing demand for quality housing in new residential areas like Tengah. The successful bids highlight the developers' vision and commitment to contributing to Singapore's urban development,catering to the evolving preferences of residents and investors alike.

In essence, the GLS commentary on Orchard Boulevard and Plantation Close(EC) provides a comprehensive overview of the current state and potential of Singapore's property market. It showcases the strategic considerations and competitive dynamics that drive development and investment decisions in the city-state's real estate sector, illustrating the ongoing demand for both luxury living in central locales and innovative housing solutions in emerging residential communities.

Click here for the full report

Prepared By:
Mohan Sandrasegeran
Head of Research & Data Analytics

You may also like

Property Insight
06 Aug 2025
CDL Tops Bids for Woodlands Drive 17 and Senja Close EC Sites

City Developments Limited (CDL) is making a notable return to the Executive Condominium (EC) segment, clinching the top bids for both the Woodlands Drive 17 and Senja Close EC sites. This marks CDL’s first successful EC land acquisition since 2022, when it secured the Bukit Batok West Avenue 5 site which became Lumina Grand. These new wins reflect CDL’s strategic re-entry into the hybrid public-private housing market and its intention to strengthen its foothold in the mass market segment.

For the Woodlands Drive 17 EC site, CDL’s bid of $360.9 million ($782 psf ppr) set a new record for EC land prices, surpassing the previous high of $768 psf ppr at Tampines Street 95. This site attracted a total of five bids, with Sim Lian Group coming in a close second at $781 psf ppr. The marginal difference highlights CDL’s competitive intent, particularly given the site’s locational advantages.

In Bukit Panjang, CDL also submitted the highest bid for the Senja Close EC site at $252.9 million ($771 psf ppr). This was another five-way contest, and the bid reflects CDL’s strategy to diversify geographically while meeting demand in under-supplied areas. Bukit Panjang has not seen a new EC launch since Blossom Residences in 2011, making this a rare opportunity to meet accumulated demand from first-time buyers and HDB upgraders.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Property Insight
06 Aug 2025
Private Rental Market Rebounds with 1.2% Growth in 1H2025

The private residential rental market rebounded in the first half of 2025, with the overall rental price index rising by 1.2 percent, reversing the 2.7 percent moderation observed in the same period last year. This turnaround suggests that the market has regained stability, supported by resilient demand and a more measured pace of growth. The 0.8 percent increase in Q2 2025, following a 0.4 percent rise in Q1, signals a stabilised phase in the market, particularly for developments with strong transport and lifestyle connectivity.

Normanton Park emerged as the top non-landed rental project with 290 leasing transactions in 1H2025. Its city-fringe location, wide unit mix (including up to five-bedroom units), and proximity to the One-North business hub make it attractive to professionals in media, technology, and biomedical sectors. The Draft Master Plan 2025 proposes further transformation in the Greater One-North area, which could bring additional housing and infrastructure enhancements.

In the HDB rental segment, transactions increased from 18,952 in 1H2024 to 19,728 in 1H2025. 3-room and 4-room flats remained the most popular, accounting for the bulk of deals. Modest increases were also seen in 5-room and executive flats, suggesting growing demand from multi-generational households.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Property Insight
31 Jul 2025
GLS Commentary - Tender Results for Holland Link

The tender for the Holland Link Government Land Sales (GLS) site drew a total of five bids, with Sim Lian Group submitting the highest offer of $368.4 million, translating to $1,432 per square foot per plot ratio (psf ppr). This residential (non-landed) site is located within the Bukit Timah Planning Area and is expected to yield around 230 units. Its proximity to prestigious landed enclaves and upcoming transformation at Turf City positions it as a rare opportunity for boutique high-end development.

The response to the Holland Link tender follows strong interest in the nearby Dunearn Road GLS site at Turf City, which received nine bids earlier this year. The Holland Link tender list reveals that some developers who participated in the Dunearn Road bid have returned to vie for this plot, indicating continued interest in well-located Core Central Region (CCR) sites. This also suggests positive spillover effects from the Turf City transformation, which is poised to rejuvenate the wider Bukit Timah area.

The Holland Link site stands out due to its boutique scale, exclusivity, and connectivity. Surrounded by greenery, nestled near landed housing, and well-linked to transport nodes, it offers strong fundamentals for a premium development. The manageable project size makes it attractive in today’s risk-aware environment, where developers are more cautious about large-scale launches.

Successful recent launches such as Upperhouse at Orchard Boulevard and The Robertson Opus also illustrate that demand for well-designed, well-located CCR homes remains intact. These projects demonstrate that buyers remain selective but are willing to commit when the right product is offered.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Mask group
Singapore Realtors Inc

CEA License No. L3010738A

1 Kim Seng Promenade #17-10/12

Great World City, West Tower

Singapore 237994

+65 6958 5000

admin@sri.com.sg

For Home Owners

Buy
Sell
Rent
Search
New Launch
Commission Guidelines

For Corporate

Property Management
Local Project Marketing
Capital Markets
Auction
International Project Marketing

For Agents

Why Join SRI?
Culture and Community
Technology & Tools
Mentorship
Training

Company

About
Team
Technology
Agent Reviews
Insights
Contact

© 2023 SRI Pte Ltd • Privacy Policy & Data Protection

Follow us on
iconiconiconiconicon