Six bidders went after the Dunearn Road Government Land Sales site — and Wing Tai Holdings, partnering with Metrobilt Construction, walked away with it at S$504.5 million, or roughly S$1,625 psf per plot ratio. The tender closed on 28 April 2026, and the winning margin over the nearest rival wasn’t as comfortable as you’d expect. Frasers Property‘s consortium bid S$517 million — yes, higher in absolute dollar terms — but Wing Tai’s figure translated to the sharper psf ppr, which is the number that actually matters for land pricing.
Wing Tai outbid Frasers on psf ppr — the number that actually matters — not total dollars.
Here’s the contrarian read: winning with the highest psf ppr doesn’t automatically mean you’ve overpaid. Wing Tai knows this neighbourhood. Their track record in the Bukit Timah corridor suggests they’ve done the math carefully. The site sits adjacent to Sixth Avenue MRT and inside the emerging Bukit Timah Turf City precinct — a masterplan still taking shape, which gives early entrants a positioning advantage that late comers simply can’t replicate. The government has outlined plans to develop 15,000 to 20,000 housing units across three white sites in this precinct, signalling the scale of transformation still to come.
The numbers give useful context. A comparable Dunearn Road tender in June 2025 drew a top bid of around S$1,410 psf ppr from a Frasers-led group. This latest award lands at S$1,625 psf ppr — a meaningful step up that reflects both tighter supply and sustained buyer demand in this school belt corridor. Fourth Avenue Residences, nearby, has seen median resale prices between S$2,540 and S$2,770 psf. Analysts suggest new launches along Dunearn could push past S$2,900 psf.
For buyers watching this site, here’s what it means practically: expect a launch price that reflects a high land cost, mandatory childcare and supermarket provisions, and roughly 330 units across a 99-year leasehold. The mixed-use components add operational complexity for the developer but genuine lifestyle value for residents — especially families drawn to the Nanyang, Hwa Chong and Methodist Girls’ cluster. This site represents the second Turf City parcel released by the government as part of a broader plan to revitalize the area through residential expansion.
Wing Tai and Metro now face the real test — translating a premium land price into a product that justifies what’ll likely be one of the district’s highest new launch price tags in years. Analysts project the future development could see a break-even of S$2,840–S$3,000 psf, with launch prices potentially exceeding S$3,300 psf when the project comes to market.
