URA releases three private residential sites for sale in Lentor, Kallang, Dunearn
The Dunearn Road site is the second to be released for the upcoming Bukit Timah Turf City housing estate
[SINGAPORE] The Urban Redevelopment Authority (URA) on Monday (Dec 8) released three private residential sites for sale in Lentor Central, Kallang Close and along Dunearn Road, on the former Turf City site.
Market watchers predict keen competition for the sites in Dunearn Road and Kallang Close, given their attractive locations. More measured bids are expected for the Lentor Central plot, given the already-high supply of homes in the area.
All three sites are on the confirmed list of the second-half 2025 government land sales (GLS) programme. Confirmed list sites are launched according to schedule regardless of demand; sites on the reserve list, on the other hand, are put up for tender only when a developer makes an offer acceptable to the government.
The 19,041.6-square-metre plot in Dunearn Road will be the second private residential site for the upcoming Bukit Timah Turf City housing estate. It is expected to yield 330 private residential units, with a maximum gross floor area (GFA) of 30,467 sq m. Of this, at least 600 sq m will be set aside for a childcare centre and a maximum of 1,400 sq m for commercial spaces, including a supermarket of at least 1,000 sq m.
Analysts reckon the site – just a stone’s throw from Sixth Avenue MRT station – will draw up to 10 bids, with a top offer of between S$1,350 and S$1,450 per square foot per plot ratio (psf ppr).
An adjacent GLS site which closed in June drew nine bids then, and a top bid of S$1,410 psf ppr from a Frasers Property, Sekisui House and CSC Land tie-up. It was the best turnout since September 2021 for a private residential site, excluding executive condominium plots, in a GLS tender.
Another Holland Link GLS site, which is just across the road, attracted five bids and a highest offer of S$1,432 psf ppr from Sim Lian Group when the tender closed in July.
“As seen from the launch of the previous Dunearn Road GLS site, there is pent-up demand for properties within the area... (with) no new supply of residential development land from private sources such as en bloc sales,” said Nicholas Mak, chief research officer at Mogul.sg.
Justin Quek, deputy group chief executive of Realion (OrangeTee & ETC) Group, believes that demand for the site will be more moderate, given the “substantial” number of plots earmarked for residential use in the area. The tender turnout could therefore be lower with three to six bidders, and a land rate of up to S$1,400 psf ppr, he said.
The other land parcel along Kallang Close has a site area of 11,456.8 sq m and a maximum GFA of 40,099 sq m, including at least 500 sq m GFA for a childcare centre. It will house around 470 residential units.
Huttons Asia chief executive officer Mark Yip noted that the site is right by the Kallang River, and is the first private residential GLS site near Kallang MRT station.
It will therefore be highly sought after by developers and buyers alike, with up to seven bidders and a top offer of S$1,450 psf ppr when its tender closes, he said.
The Lentor Central site can potentially provide 560 units. It spans 15,926.2 sq m, with a maximum GFA of 47,779 sq m.
The project is the eighth GLS parcel launched for sale in the up-and-coming Lentor Hills neighbourhood.
Given the high supply of homes in the area – with another 500-unit development along Lentor Gardens slated for launch next year – analysts anticipate demand for the Lentor Close site to be more measured.
Still, Yip noted that fewer than 50 units from launched projects remain unsold in the Lentor area.
He added that the Lentor neighbourhood is popular among buyers for its attractive entry price. “Going by the fast pace of sales in recent Outside Central Region project launches, especially in Lentor/Springleaf, demand for attractively priced private homes has remained high.”
Interest in the Lentor Close site may therefore be similar to that of other GLS tenders in Lentor over the last two years, with two to four bids ranging from S$900 to S$1,000 psf ppr, said Yip.
All three sites have a 99-year lease.
They are part of the 4,725 private homes to be released via the confirmed list of the H2 2025 GLS programme to “cater to housing demand and maintain market stability”, said URA in a statement on Monday.
A fourth hotel site in Telok Ayer has also been made available for application under the reserve list.
With a site area of 4,187.3 sq m and a maximum GFA of 29,312 sq m, the land parcel is predicted to yield 440 hotel rooms and 135 long-stay serviced apartments. This includes a minimum GFA of 6,200 sq m for long-stay serviced apartments.
The future development can be built up to 30 storeys and has a lease period of 99 years.
The tender for Dunearn Road closes on Apr 28. The Kallang Close tender closes on Apr 7 and Lentor Central, on Mar 3.
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