Prime Holland Plain site draws just one bid from Sim Lian at S$454 million or S$1,491 psf ppr

[SINGAPORE] A state land site for a 280-unit low-rise project in the prime Holland Road area fetched just one bid on Thursday (May 7), from Sim Lian at S$454 million or S$1,490.86 psf ppr.

The lacklustre turnout was a far cry from that of an adjacent Holland Link site, which drew five bids and a top offer of S$1,432 psf ppr from Sim Lian in July 2025.

Not far from the two plots, a Dunearn Road parcel garnered six bids when its tender closed last week, with the highest from Wing Tai and Metro’s Metrobilt Construction at S$1,625 psf ppr. 

Market watchers polled ahead of the tender closing on Thursday (May 7) had anticipated up to eight bidders. 

Expectations for the top offer ranged between S$1,350 and S$1,560 psf ppr, for a site to house a six-to-eight storey condominium near the Brizay Park Good Class Bungalow Area. 

Favourable factors include the site’s “palatable” size, which is expected to yield around 280 new homes, and proximity to popular schools such as Methodist Girls’ School, Henry Park Primary School and Pei Hwa Presbyterian Primary School.

Unsold inventory in the Core Central Region (CCR) is also relatively low, at around 5,487 units as at end-Q1 – the lowest level since Q2 2023, when stock stood at 5,299 units.

Coupled with a recent pickup in CCR demand and strong take-up at new launches, this could motivate developers to replenish their land banks with a prime project.  

On the other hand, the Holland Plain parcel is in a new neighbourhood with few amenities, as the second of eight residential sites to be launched within the Holland Plain precinct in the Bukit Timah Planning Area. Upon completion, the 34-hectare estate is projected to yield up to 2,500 new units. 

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More attractive Dunearn Road government land sale sites closer to MRT stations, as well as other CCR plots available – such as at Peck Hay Road in Newton and River Valley Green (Parcel C) – may have also siphoned some demand away from the Holland Plain site.  

Located near the Brizay Park GCB Area, the Holland Plain site spans 15,716.9 sq m with a maximum gross floor area of 28,291 sq m. It has a gross plot ratio of 1.8 and maximum building height of up to six to eight storeys.

Caveats data showed that the median price of non-landed private homes in the same postal sector was S$2,149 in the year thus far. Most recently in late April, a 1,744 sq ft unit at the 999-year leasehold Ridgewood condominium was sold at S$3.2 million or S$1,835 psf. 

Most projects within a 1km radius of the Holland Plain site are freehold developments. These include Maplewoods, The Cascadia, The Nexus and The Tessarina, which transacted at median prices ranging from  S$2,154 psf to S$2,280 psf year to date.