Sim Lian Group has secured the Holland Link Government Land Sale (GLS) site with an assertive bid of S$368.4 million, translating to S$1,432 per square foot per plot ratio, in a competitive tender that saw the developer outbid four other contenders. The winning bid represents a substantial 22% premium over the second-highest offer from Wee Hur Development and a remarkable 56% above the lowest bid submitted by Sustained Land, indicating Sim Lian’s strong conviction in the site’s development potential.
Located in the prestigious District 10, the Holland Link site spans 17,069.0 square meters with residential zoning and a maximum permitted gross floor area of 23,897 square meters. The land parcel comes with a 99-year leasehold tenure and building height restrictions capped at 6 storeys, positioning it for mid-rise development in Singapore’s sought-after Central Core Region (CCR). The proximity to Brizay Park enhances the site’s appeal and exclusivity in this upmarket area. The site is situated within the Old Holland Road Big Field, making it part of a long-term development vision for the area.
Prime District 10 parcel offers 17,000+ sqm canvas for prestigious mid-rise living in Singapore’s coveted Central Core Region.
Market analysts have noted that Sim Lian’s bid of S$1,432 psf ppr establishes a new benchmark for GLS sites in the vicinity, reflecting high developer confidence despite prevailing property cooling measures. The unusually wide margin between the top and runner-up bids signals robust competition for prime land parcels in Singapore’s residential market, particularly in established upmarket enclaves. This competitive bidding comes amid a broader GLS strategy that includes other significant sites like Lakeside Drive in the Jurong Lake District which is scheduled for launch in April 2025.
The development is projected to yield approximately 230-240 residential units targeting affluent owner-occupiers and investors. Surrounded by existing landed properties and private condominiums, the future project stands to benefit from the area’s established prestige and desirability.
Following the tender closure in late July 2025, Sim Lian is expected to proceed with regulatory submissions and commence construction after obtaining necessary approvals. Industry observers anticipate markedly higher launch prices compared to current resale properties in the area, with site handover and groundbreaking likely scheduled for late 2025 or early 2026.
The tender outcome serves as a barometer of continued resilience in Singapore’s prime residential sector, with developers maintaining appetite for quality land parcels despite market challenges and regulatory constraints.
