Tenders launched for three GLS sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17

Three Government Land Sale (GLS) sites at Dunearn Road, Lakeside Drive and Woodlands Drive 17 have been launched for tender today, according to an April 8 press release by URA and HDB. The plots at Dunearn Road and Lakeside Drive are private residential sites, while the plot at Woodlands Drive 17 is an executive condominium (EC) site. All three sites are under the Confirmed List of the 1H2025 GLS programme and have 99-year leasehold tenures.

The residential site at Dunearn Road has a 144,238 sq ft land area and a maximum gross floor area (GFA) of 348,549 sq ft. The site, which has a gross plot ratio of 2.4, is expected to yield 380 residential units.

The Lakeside Drive site spans 145,314 sq ft and is zoned for residential with commercial at the first storey. The site has a gross plot ratio of 3.6 and can yield 575 residential units and 10,764 sq ft of commercial space. The EC site at Woodlands Drive 17 measures 271,328 sq ft. It has a gross plot ratio of 1.7 and can yield 420 units with a maximum GFA of 461,259 sq ft. Wong Siew Ying, head of research and content at PropNex, expects the three sites to appeal to developers, notwithstanding the “heightened market uncertainties arising from the US tariffs on its trading partners, and the financial market rout in recent days”.

She believes developers will be attracted to the plots owing to their attractive locations close to MRT stations, while robust new home sales in recent months may compel developers to replenish their land inventory. However, the current market uncertainties may result in a more cautious stance among developers, with bid prices expected to be “relatively measured”, she adds.

Dunearn Road site: First private residential site in Turf City

The Dunearn Road site is the first private residential site to be offered in Turf City, the future housing precinct on the site of the former Bukit Timah Turf City racecourse. The new estate is earmarked for up to 20,000 new public and private homes that will be developed over the next 20 to 30 years. Located in the upcoming Stables Commune neighbourhood, the Dunearn Road site is within walking distance of Sixth Avenue MRT Station (Downtown Line). It is also near the upcoming Turf City MRT Station on the Cross Island Line, which is expected to be completed in 2032. The last GLS tender in the area occurred seven years ago for the site of the 476-unit Fourth Avenue Residences, says Mark Yip, Hutton Asia’s CEO. Allgreen Properties paid $533 million or $1,540 psf per plot ratio (ppr) for the plot in 2017. Fourth Avenue Residences also marked the last private residential launch in the area, with units sold at a median price of $2,406 psf, notes Marcus Chu, CEO of ERA Singapore. Consequently, he anticipates substantial pent-up demand for homes in the area, supported by its location within the coveted Bukit Timah area and its proximity to popular schools such as Methodist Girls’ School. PropNex’s Wong expects developers to show keen interest in the site to leverage on first-mover advantage within Turf City. She predicts the tender for the Dunearn Road site may draw five to six bids, with the top bid projected at $1,400 to $1,500 psf ppr.

Lakeside Drive site: First new launch in the area since 2016

Wong anticipates the Lakeside Drive site to also generate healthy interest, owing to its location. Situated in the Jurong West area, the site is adjacent to Lakeside MRT Station on the East-West Line. “We think the future homes to be built on the Lakeside Drive site may be popular with homebuyers, given that it is steps from the MRT station, within walking distance of Jurong Lake Gardens, and a stone’s throw from the JLD [Jurong Lake District], which will be the largest mixed-use business district outside the city centre,” Wong explains.

The future development could also see strong demand as the last project launch in the area, the 710-unit Lake Grande, was nearly a decade ago, observes Justin Quek, CEO of OrangeTee & Tie. He adds that over 2,000 four- and five-room HDB flats in Jurong West reached their minimum occupation period between 2021 and 2023, potentially signifying a robust pool of upgraders that would boost take-up rates for the new project. Quek anticipates between five and eight bidders for the Lakeside Drive site, with the highest bid ranging from $1,050 to $1,150 psf ppr. ERA’s Chu points out the limited supply of new private homes in JLD. “Across the three new developments available for sale — J’den (93.8% sold), The Lakegarden Residences (71.6%) and SORA (41.6%) — there are only 360 units remaining,” he says.

Woodlands Drive 17 tender closing to coincide with Senja Close EC

Developers could show considerable interest in the Woodlands Drive 17 EC site, given scarce fresh EC supply in the immediate vicinity, says ERA’s Chu. He notes that the Woodlands area has not seen an EC launch in almost a decade, with the most recent being Northwave in 2016. “This could compel developers to bid competitively to seize the opportunity in plugging the supply gap in this market,” he adds.

That said, the tender closing for the Woodlands Drive 17 site will coincide with the Senja Close EC site that was launched last month. This could result in more diluted interest that translates to moderate bidding activity, Chu opines. The Senja Close EC site can yield about 295 units. Huttons’ Yip notes that the Woodlands Drive 17 site is near the Woodlands South MRT Station, which is one train stop away from the Woodlands Regional Centre and two stops from the Rapid Transit System Link. This, combined with a large number of primary schools within a 1km radius, could draw buyers, including HDB upgraders. He estimates four to six bidders for the site, with a top bid of between $700 and $750 psf ppr.

The tenders for the Lakeside Drive, Dunearn Road and Woodlands Drive 17 sites will close on June 3, June 26 and Aug 5, respectively.