Tenders Launched Three Gls Sites Lakeside Drive Dunearn Road And Woodlands Drive 17
The Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) have announced the launch of three Government Land Sale (GLS) sites for tender today. These sites, located at Dunearn Road, Lakeside Drive, and Woodlands Drive 17, are all under the Confirmed List of the 1H2025 GLS programme and have 99-year leasehold tenures.
The Dunearn Road and Lakeside Drive sites are for private residential developments, while the Woodlands Drive 17 site is designated for an executive condominium (EC). The residential site at Dunearn Road has a land area of 144,238 sq ft and a maximum gross floor area (GFA) of 348,549 sq ft, with a gross plot ratio of 2.4. It is expected to yield 380 residential units.
The Lakeside Drive site spans 145,314 sq ft and is zoned for residential with commercial use on the first storey. It has a gross plot ratio of 3.6 and can yield 575 residential units and 10,764 sq ft of commercial space.
The EC site at Woodlands Drive 17 covers 271,328 sq ft and has a gross plot ratio of 1.7. It is expected to yield 420 units with a maximum GFA of 461,259 sq ft.
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According to Wong Siew Ying, head of research and content at PropNex, the three sites are expected to attract interest from developers, despite the current market uncertainties due to US tariffs and financial market volatility. She believes that the prime locations near MRT stations and strong new home sales in recent months will motivate developers to replenish their land inventory. However, developers may take a more cautious stance, resulting in “relatively measured” bid prices.
The Dunearn Road site is the first private residential site to be offered in Turf City, the future housing precinct on the former Bukit Timah Turf City racecourse site. The new estate, to be developed over the next 20 to 30 years, is expected to accommodate up to 20,000 public and private homes. It is located in the upcoming Stables Commune neighbourhood and is within walking distance to Sixth Avenue MRT Station (Downtown Line). It is also near the upcoming Turf City MRT Station on the Cross Island Line, set to be completed in 2032.
The last GLS tender in this area was seven years ago for the site of the 476-unit Fourth Avenue Residences, which was acquired by Allgreen Properties for $533 million or $1,540 psf per plot ratio (ppr) in 2017. This also marks the last residential project launch in the area, with units sold at a median price of $2,406 psf, as noted by Marcus Chu, CEO of ERA Singapore. Hence, there is expected to be a high demand for homes in this area due to its location in the desirable Bukit Timah area and proximity to popular schools like Methodist Girls’ School.
Wong of PropNex expects strong interest from developers for the Dunearn Road site, with the potential to draw five to six bids, and the top bid estimated at $1,400 to $1,500 psf ppr.
The Lakeside Drive site is also expected to attract healthy interest due to its location. Located in the Jurong West area, the site is adjacent to Lakeside MRT Station on the East-West Line. It has a land area of 145,314 sq ft and a gross plot ratio of 3.6. Wong anticipates that the future homes built on this site will be popular among homebuyers due to its proximity to the MRT station, Jurong Lake Gardens, and the upcoming Jurong Lake District – the largest mixed-use business district outside the city centre.
Justin Quek, CEO of OrangeTee & Tie, notes that the last project launch in this area, Lake Grande, was almost a decade ago, and over 2,000 HDB flats in Jurong West will reach their minimum occupation period between 2021 and 2023. This could potentially signify a strong demand from upgraders for the new project. Quek expects five to eight bidders for the Lakeside Drive site, with the top bid ranging from $1,050 to $1,150 psf ppr.
The EC site at Woodlands Drive 17 is also expected to draw considerable interest from developers due to the scarce fresh EC supply in the area. The last EC launch in the Woodlands area was Northwave in 2016. The Woodlands South MRT Station, within walking distance of the site, is only one stop away from the Woodlands Regional Centre and two stops from the Rapid Transit System Link. With a large number of primary schools within a 1km radius, Huttons’ Yip estimates that there will be four to six bidders for this site, with a top bid of between $700 and $750 psf ppr.
The tender for the Dunearn Road site will close on June 3, the Lakeside Drive site on June 26, and the Woodlands Drive 17 site on August 5. It will coincide with the tender closing for the Senja Close EC site launched last month, which could result in more diluted interest and moderate bidding activity, adds Chu of ERA. The Senja Close EC site can yield about 295 units.