First private housing sites at former Keppel Golf Course, Bukit Timah Turf City to be sold in H1 2025

SINGAPORE – More private housing will be available in the first half of 2025, including in two new precincts at Bukit Timah Turf City and the former Keppel Golf Course. A total of 8,505 units will be offered, an increase from the 8,140 units planned for the second half of 2024. The confirmed supply for the first half of 2025 will bring the total private housing supply, including executive condominiums (ECs), to about 57,200 units, according to the Ministry of National Development (MND), which stated that this will meet housing needs in the coming years.

The confirmed list includes 10 sites, with nine additional reserve list sites. In addition to the sites at Bukit Timah Turf City and the former Keppel Golf Course, other sites are located at Lakeside Drive, Chuan Grove, Upper Thomson Road, Dorset Road, and Hougang Central. The three EC sites are situated at Senja Close, Woodlands Drive 17, and Sembawang Road.

The confirmed list is expected to yield around 5,030 private residential units, including 980 EC units, and 43,000 sq m of commercial space. The reserve list, which allows developers to begin development based on demand, will provide an additional 3,475 residential units, 199,900 sq m of commercial space, and 530 hotel rooms. The reserve list includes four private residential sites, one commercial site, three white sites, and one hotel site. White sites allow a mix of uses, including commercial, residential, hotel, sports, and recreational spaces.

The Government Land Sales (GLS) programme aims to maintain market stability and meet housing demand by offering a mix of residential, commercial, and hotel developments. Private housing supply has been increasing steadily, rising from 16,100 units at the end of 2021 to approximately 21,000 units by November 2024. This ramp-up has helped moderate property price momentum, stabilizing the residential market, according to MND.

In the first half of 2025, the first private housing sites at the former Keppel Golf Course and Bukit Timah Turf City will be launched. The 48-hectare site at the former Keppel Golf Course will provide around 9,000 new homes, including about 6,000 public housing units. Located near the city center, this site will contribute to the transformation of the Greater Southern Waterfront into a dynamic mixed-use hub. The first private housing site at Telok Blangah Road will offer around 740 units and will be launched in the first half of 2025. ERA Singapore’s CEO, Marcus Chu, described the Telok Blangah Road site as the largest in the first-half 2025 GLS launch, featuring high-rise towers and a plot ratio of 4.7. Located near Telok Blangah MRT station, the site provides convenient access to work hubs such as One-North, Buona Vista, and the National University of Singapore. HarbourFront station, just one stop away, offers direct access to the Central Business District in under 10 minutes, adding to the site’s appeal.

Bukit Timah Turf City will undergo long-term development, with plans for 15,000 to 20,000 homes over the next 20 to 30 years. The estate will be designed to be car-lite and pedestrian-friendly, integrating heritage buildings and green spaces to create a distinctive living environment. The private residential site on Dunearn Road will yield about 370 units, marking the start of Bukit Timah Turf City’s rejuvenation. Leonard Tay, research head at Knight Frank, believes developers who successfully bid for this site will gain a first-mover advantage.

Analysts have highlighted the inclusion of three EC sites as a timely response to the strong demand for ECs from both developers and home buyers. Mohan Sandrasegeran, head of research at Singapore Realtors Inc (SRI), noted that the prices of new ECs have been rising steadily due to limited supply and high demand. PropNex CEO Ismail Gafoor pointed out the record land rate of $768 per sq ft per plot ratio for a recent EC site in Tampines Street 95, warning that higher land prices will lead to higher selling prices. Gafoor hopes that increasing EC land supply will ease competition among developers and help control rising land costs and selling prices.

Wong Xian Yang, research head at Cushman & Wakefield for Singapore and Southeast Asia, expects buyers to be more discerning and price-sensitive in 2025, prioritizing projects that offer good value propositions due to uncertain borrowing costs. He also noted that the residential collective sale market will continue to face competition from the GLS, which remains the preferred option for developers due to its straightforward acquisition process.