-- The second site in Holland Plain to be tendered within 10 months saw muted participation albeit with the top bid price still at the higher end of expectations. This follows healthy bidding at the nearby Dunearn Road Residential with first storey Commercial plot just across the road near the former Turf City which is currently ongoing rejuvenation.
While developers’ appetite to replenish their landbanks remains strong, they may be more selective amid heightened economic uncertainty and risks of higher construction costs from supply chain disruptions due to the ongoing Middle East conflict. This selectiveness would be more obvious on sites with less attractive attributes such as a further distance from an MRT, or with abundant competitive supply.
Today’s tender for the residential site at Holland Plain (280 units) saw muted participation, receiving just 1 bid, but the top bid price of $1,491 psf ppr was at the higher end of our expectations. The lone bid was submitted by Sim Lian Group, which was awarded the adjacent plot at Holland Link (230 units) in Aug 2025 for $1,432 psf ppr, outbidding the second highest bidder by 22%, and out of a total of 5 bids. For today’s site, the lone bid of $1,491 psf ppr is still 4.1% higher than the $1,432 psf ppr for the earlier site, signaling Sim Lian’s continued conviction in the location.
Holland Plain (280 units) is the second site in the new Holland Plain precinct nestled within an established residential area within a 10 – 15-minute walk to the King Albert Park MRT station; an interchange station between the existing Downtown Line and the Cross Island Line section slated to open in 2032. Given its location within a low-density enclave, flanked by Brizay GCBA to the north, Garlick Avenue GCBA to the east and empty land to the west, the precinct will be designed with generous park spaces and water sensitive features in response to the surrounding green environment, with plans by the URA to introduce two new parks, the community plain and wetland park.
Competition could come from nearby sites which include the two Dunearn Road plots in the Bukit Timah former Turf City which is ongoing rejuvenation. Dunearn Road (380 units) received 9 bids during the closing of its tender in Jun 2025, and was awarded to a consortium of CSC Land, Sekisui House and Frasers Property on 3 Jul 2025 for a top bid price of $1,410 psf ppr and Dunearn Road (2) (330 units) which closed just last Tuesday on 28 Apr 2026 drew 6 bids and was awarded to the top bidder, a joint venture between Wing Tai Holdings and Metro Holdings for $1,625 psf ppr on 4 May.
Non-landed private homes in the locale within 1km of the site are mostly freehold, including Maplewoods, The Cascadia, The Nexus and The Tessarina which traded at median prices of $2,154 psf for the oldest (completed in 1997) to $2,280 psf for The Cascadia (completed in 2010) in 2026-to-date.
The newest and 99-year leasehold comparable will be Fourth Avenue Residences next to the Sixth Avenue MRT Station and was completed in 2022 – which saw 5 resale transactions in 2026-to-date at a median price of S$2,674 psf.
Nearby Comparables
Source: CBRE Research, realis, data downloaded as of 6 May 2026. We only include resale projects with at least 5 transactions in 2026 YTD.
Sim Lian Group may choose to amalgamate the 2 adjacent plots in Holland Plain into a 510-unit development, which will bring the average land rate to $1,464 psf ppr. The future project could launch at an average price of $3,000 – 3,100 psf.
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