When competitive bidding for prime residential land intensifies in Singapore’s central districts, the resulting price points often serve as pivotal market indicators. The recent tender for the Dorset Road Government Land Sales site has reinforced this trend with a winning bid of S$1,338 per square foot per plot ratio.
Dorset Road’s S$1,338 psf ppr winning bid establishes a new benchmark for Singapore’s prime residential land market.
The consortium comprising UOL Group Limited, Singapore Land Group, and Kheng Leong Company secured the centrally-located parcel with a total land bid value amounting to S$805.4 million. They prevailed over eight other competitors in a tender that underscored robust developer interest in prime residential opportunities.
The Dorset Road site measures approximately 12,388 square meters and carries a 99-year leasehold tenure. It was listed by the Urban Redevelopment Authority as one of three prime residential GLS sites in the first half of 2025.
The participation of nine bidders reflects sustained demand for well-located urban land parcels, particularly those offering proximity to key amenities and transport infrastructure. These factors enhance residential appeal.
The winning bid exceeded analyst expectations and aligns near the high end of recent market pricing for comparable central locations. It establishes a new benchmark for future tenders in the vicinity.
Each member of the winning consortium brings substantial experience in large-scale and luxury residential developments across Singapore. They have a proven track record in securing and executing competitive urban sites.
The strong financial position and development expertise of UOL Group, Singapore Land Group, and Kheng Leong Company minimize execution risks and support confidence in project delivery.
The site is zoned for residential use under the Master Plan, with indicative plans suggesting potential for high-rise residential towers targeting upmarket buyers and investors. This aligns with the consortium’s historical development strategy.
The successful tender outcome carries broader implications for Singapore’s residential property market. The project will contribute markedly to central area housing stock while potentially influencing property values in surrounding neighborhoods. With cooling measures moderating price growth in non-central areas, central locations like this continue to attract premium interest from developers and investors. The site’s proximity to 29 of Singapore’s 39 GCB areas within a 3-kilometer radius further enhances its prestige and investment appeal.
Urban planners and policymakers are expected to monitor the development’s impact on supply dynamics and pricing trends. This is particularly relevant given the site’s rarity and strategic location within Singapore’s prime residential corridor. The site is situated in District 10, renowned for its affluence and strong property value retention.
