Ura Launches Tenders Gls Sites Holland Link And Chuan Grove
The Urban Redevelopment Authority (URA) has recently initiated the tenders for two residential Government Land Sale (GLS) sites at Holland Link and Chuan Grove on December 3rd. These two 99-year leasehold sites are part of the Confirmed List of the second half of 2024 GLS Programme.
The first site, Holland Link, is situated along Holland Link in District 10 and spans across 185,141 square feet. It has a maximum gross floor area (GFA) of roughly 257,225 square feet and can potentially accommodate around 230 housing units, as estimated by URA. This site is also the first plot to be launched in the upcoming Holland Plan precinct, which is one of the three new precincts designated by URA, including Bayshore and Kampong Bugis. Marcus Chu, the CEO of ERA Singapore, notes that this new residential area is expected to house approximately 2,500 new homes. He predicts that developers will bid for this site to take advantage of being the first to inject 230 units into the pipeline.
Chu also points out that the site is within a 2km radius of several notable schools, including Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College. He believes that this could be a plus point for families with young children looking for priority admission into these schools. Moreover, the Holland Link GLS site is situated near the Brizay Park Good Class Bungalow area. Thus, Mark Yip, the CEO Of Huttons Asia, predicts that future developments in the Holland Plain precinct will primarily focus on low-density private residences.
The Holland Link GLS site is expected to receive between one and two bids, with the top bid ranging from $1,200 to $1,300 per square foot per plot ratio (psf ppr), according to Yip. Similarly, Chu predicts a muted response to the site due to saturation in the current tender process for seven other residential sites. However, he anticipates that the site may receive up to three bids.
The second site, Chuan Grove, is located along Chuan Grove off Lorong Chuan in District 19. It measures 170,409 square feet and has a maximum GFA of 511,232 square feet, potentially accommodating around 555 new housing units. The site is also conveniently located within 400m of the Lorong Chuan MRT Station on the Circle Line, just one stop away from the Bishan MRT Station (interchange with the North-South Line) and Serangoon MRT Station (interchange with the North-East Line).
ERA’s Chu expects that the future development on this site will attract nearby HDB upgraders. He notes that an estimated 3,815 Build-to-Order (BTO) units sized four-room and larger in Toa Payoh will fulfill their Mandatory Occupation Period (MOP) within the next four years. The median transaction prices of five-room flats in neighboring Serangoon, Bishan, and Toa Payoh over the last 10 months were $792,000 and $828,000, respectively. Therefore, Chu believes that residents of HDB flats in older estates may seek to upgrade their homes given the increasing number of million-dollar flats in these areas. He also mentions that the recent success of Chuan Park, with 76% of its 916 units sold at an average price of $2,579 psf during its launch weekend, may encourage developers to bid for this site. Chu predicts that the bids for the Chuan Grove site may range from $571 million to $600 million, translating to a land rate of at least $1,200 psf ppr. Meanwhile, Huttons’ Yip anticipates a total of three to five bids, with the top bid ranging between $1,150 and $1,250 psf ppr.
Nestled in a prime location, The Orie boasts excellent connectivity with a variety of bus routes running along major roads such as Lorong 1 Toa Payoh and Lorong 4 Toa Payoh. These well-connected routes provide access to various parts of Singapore, including the bustling Central Business District (CBD) and the charming heartlands. Residents are spoilt for choice with the extensive bus network, offering direct and efficient transportation options to every corner of the city. For more information on The Orie Price, please visit http://www.the-ories.sg/.
The tenders for the Chuan Grove and Holland Link sites will close at noon on July 8, 2025, and July 29, 2025, respectively.