Bukit Timah GLS site seen to draw up to 9 bids

The site is expected to yield around 340 private homes.

The residential site at Bukit Timah Road, launched under the second half 2025 Government Land Sales (GLS) Confirmed List, is poised to attract strong developer interest due to its prime location and improving sentiment in the Core Central Region (CCR) market.

Positioned next to the Newton MRT interchange and offering direct links to the CBD and Orchard Road, the site is expected to yield around 340 private homes.

Its proximity to top schools like Anglo-Chinese School (Junior) and SJI (Junior), as well as lifestyle amenities such as Newton Food Centre, enhances its appeal to both developers and future homeowners.

Consultants from PropNex, Huttons, and Realion have all provided bullish projections, though their forecasts vary in bid estimates. PropNex’s Head of Research and Content, Wong Siew Ying, expects the site to draw 8 to 9 bidders, with a top bid ranging from $1,500 to $1,600 psf ppr.

She pointed to a significant rebound in CCR home sales, noting that more than 850 units have been transacted between July and mid-August 2025—on pace for the strongest quarter since Q4 2010.

Wong also highlighted the narrowing price gap between CCR and Rest of Central Region (RCR) properties as a driver for renewed buyer interest.

Huttons CEO Mark Yip offers a slightly more conservative outlook, forecasting 4 to 5 bidders and a top bid of $1,300 to $1,400 psf ppr. Still, he noted strong parallels between this site and recent successful CCR launches, particularly those close to MRT stations.

Yip viewed recent robust launch sales—65.2% sold at launch across 1,173 units—as a clear sign of underlying demand, and he believes firm bids in nearby GLS tenders at Dunearn Road and Holland Link reflect developers’ growing appetite for prime sites.

Realion’s CEO, Justin Quek, anticipates 3 to 6 bidders and a top bid in the $1,500 to $1,600 psf ppr range. He referenced the UpperHouse at Orchard Boulevard as a pricing benchmark and believes the Newton site could enjoy similar success due to its excellent location and strong long-term fundamentals.

However, Quek cautioned that high Additional Buyer’s Stamp Duty (ABSD) and increasing supply could temper some of the enthusiasm, though not enough to overshadow the site's strategic potential.

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