Bukit Timah GLS site launch prices seen at $3,300–$3,600 psf

The site attracted eight bids, with the highest offer of $1,820 psf ppr submitted by HH Investment Pte Ltd.

Upcoming launch prices for the Bukit Timah Road GLS site in Newton could range between $3,300 and $3,600 psf, with some projections suggesting even higher pricing, according to estimates from property agencies following the close of the government land sale.

PropNex indicated prices could exceed $3,600 psf, citing strong developer demand and a rebound in Core Central Region (CCR) sales in the second half of 2025. H

Huttons projected $3,400–$3,600 psf, whilst CBRE expects a range of $3,300–$3,500 psf, noting the top bid was 29.1% above Dunearn Road and 12.6% above Orchard Boulevard land rates.

Realion (OrangeTee & ETC) highlighted pent-up demand in Newton and recent successful nearby launches as supporting factors.

The site attracted eight bids, with the highest offer of $1,820 psf ppr submitted by HH Investment Pte Ltd, a company understood to be affiliated with Taiwan’s Huang Hsiang Construction.

This marks the highest GLS land rate for a CCR site since 2018, when a Cuscaden Road plot set the previous benchmark. The Newton plot is expected to yield approximately 340 units.

The 12.3% gap between the top bid and the second-highest offer from Hoi Hup and Sunway ($1,621 psf ppr) has drawn attention, reflecting divergent pricing views among developers.

However, analysts generally interpret the results as a sign of upbeat sentiment in the high-end residential market, driven by strong sales momentum in recent launches, a resilient economic outlook, and accommodative interest rates.

Located directly beside the Newton MRT interchange and within 1km of ACS (Junior) and SJI (Junior), the site benefits from strong connectivity and school proximity.

It is seen as a first-mover opportunity under the Draft Master Plan 2025 to reposition Newton as a mixed-use and lifestyle hub. The plot’s relatively modest land size also made it more accessible for developers, particularly given the limited GLS supply in this part of the CCR.

Overall, the tender reflects renewed confidence in the prime residential segment and competitive appetite for well-located, rare CCR opportunities.

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