A high-profile consortium has emerged victorious in a competitive tender for a prime Bukit Timah land parcel, with Frasers Property, Sekisui House, and CSC Land jointly submitting the winning bid of S$491.5 million for the 99-year leasehold Dunearn Road site. The consortium secured the residential plot at a rate of S$1,410 per square foot per plot ratio (psf ppr), outbidding eight competing developers in the government land sale (GLS) tender, including established entities such as City Developments, Sim Lian partnership, UOL-led consortium, Kingsford Group, and Wee Hur Development.
The acquisition represents the first GLS plot released in the Bukit Timah Turf City area, a strategic location designated exclusively for private residential development with potential to yield approximately 380 residential units. This land parcel, situated along Dunearn Road in a prestigious Bukit Timah enclave, offers the consortium a first-mover advantage in an area earmarked for extensive transformation under the 2025 Draft Master Plan. The site’s location near top schools in Bukit Timah is expected to further increase demand from family buyers. The plot also boasts excellent connectivity with both Sixth Avenue MRT and Turf City MRT being within a 10-minute walk.
First to secure prime Bukit Timah real estate in a district poised for transformative development under the 2025 Master Plan.
Market observers note significant pent-up demand for new private residential offerings in Bukit Timah, with no new condominium launches in the immediate vicinity for nearly eight years since Fourth Avenue Residences in 2019. That project, which was awarded in 2017 at S$1,540 psf ppr, subsequently sold out at a median price of S$2,406 psf, indicating robust buyer appetite for properties in this coveted district. The projected 4-7% increase in private property prices for 2025 further supports developers’ confidence in this premium market segment.
The Bukit Timah Turf City precinct is slated for extensive redevelopment, with government plans to introduce 15,000 to 20,000 new housing units across three white sites and over 20 residential or mixed-use plots. Future development phases include an adjoining residential plot with commercial space at the first storey, scheduled for launch in December 2025, alongside planned healthcare amenities, educational institutions, and retail offerings.
The consortium’s optimistic bid reflects confidence in Bukit Timah’s enduring appeal, particularly its proximity to prestigious schools, nature reserves, and transportation infrastructure, positioning the future development to attract upgraders and families seeking the distinctive Bukit Timah lifestyle.
