For the Holland Link site, Sim Lian makes a "bullish" top bid of S$1,432 psf ppr
For the Holland Link site, Sim Lian makes a "bullish" top bid of S$1,432 psf ppr
Compared to the second-highest offer from a Wee Hur unit, this is 22.2% more.
July 30, 2025
CONDOsingapore.com
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Together, Sim Lian Development and Sim Lian Land submitted what real estate analysts have called the "bullish" highest bid for the first government land sales (GLS) site in the brand-new Holland Plain precinct.
For the 99-year leasehold private housing site, the two parties have offered almost S$368.37 million, which translates to roughly S$1,432 per square foot per plot ratio (psf ppr). This was 22.2% more than the second-highest bid, which came from a Wee Hur-owned subsidiary and was S$1,171.70 per square foot per person.
Furthermore, the lowest bid, S$919.89 psf ppr from Sustained Land, was 55.7% lower than the highest bid.
Marcus Chu, the CEO of ERA Singapore, stated, "The significant price difference between the highest and lowest bidders highlights the prevailing uncertainty among developers amid ongoing global volatility." "Given that market headwinds are still affecting sentiment, this indicates a cautious approach to land acquisition."
Five bids were received overall for the 183,729-square-foot (sq ft) plot in Holland Link, which went up for auction on Tuesday, July 29.
S$1,061 per square foot was offered by Kingsford Group. ABR, Roxy-Pacific, Macly Capital, and LWH placed a bid of almost S$1,050 per square foot.
The top bid and the quantity of bids exceeded the predictions of real estate experts surveyed earlier this week.
They anticipated that the site would receive zero to four bids, with the highest bid estimated to be between S$900 and S$1,300 per square foot.
A six-story project with a maximum gross floor area (GFA) of 257,225 square feet could be built on the Holland Link plot. To control traffic in the area, the Urban Redevelopment Authority (URA) has set a cap of 233 housing units for this site.
"The top bid price of S$1,432 psf ppr is rather aggressive, as it is 1.6% higher than what was fetched last month for the arguably better-located Dunearn Road site, which is closer to an MRT station," stated Tricia Song, head of research for South-east Asia at CBRE.
At S$1,410 per square foot, a group consisting of Frasers Property, Sekisui House, and CSC Land Group (Singapore) outbid eight other bidders for the Dunearn Road plot.
A partnership between UOL, CapitaLand Development, Singapore Land, and Kheng Leong paid S$1,285 per annum for a plum site in Holland Drive last year; analysts pointed out that the highest bid for the Holland Link plot is 11.4% higher.
Furthermore, according to Nicholas Mak, chief research officer for Mogul.sg, the Holland Drive plot is "far more attractive and accessible" than the most recent location in Holland Link.
In a similar vein, Song of CBRE pointed out that the Holland Drive plot is close to the Holland Village MRT station, the shopping centre One Holland Village, and other local amenities.
An upcoming MRT interchange station at King Albert Park will serve the Holland Link plot, linking the currently operating Downtown Line (DTL) and the still-under-development Cross Island Line (CRL). The north-west section of the Holland Plain precinct is intended to have a CRL station exit.
According to analysts, there are roughly 800 metres between the CRL station and the Holland Link plot. A columbarium is also close to the location.
However, there are other appealing aspects of the plot. "The site's proximity to many popular schools, including Methodist Girls' School (MGS) and Henry Park Primary School, as well as its proximity to Good Class Bungalow (GCB) Areas, which could lend a sense of exclusivity and prestige," stated Wong Siew Ying, head of research and content at PropNex.
"The precinct will feature generous green spaces and low-density living," added Mark Yip, CEO of Huttons Asia.
The first-mover advantage
Song of CBRE and other real estate consultants emphasised that the Holland Link tender's comparatively high participation rate is a result of the precinct's possible first-mover advantage.
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A number of low-density residential plots are planned close to the 2032 opening of the CRL King Albert Park MRT station.
The Bukit Timah Planning Area's Holland Plain precinct is envisioned by the URA as a green community with a verdant streetscape.
Low-rise and landed housing on Garlick Avenue to the east, the Holland Green Linear Park and Greenleaf landed housing estate to the south, the Rail Corridor to the west, and MGS and the Brizay Park GCB Area to the north all enclose the precinct.
For infant and childcare services, the proposed project on the Holland Link site must have an early childhood development centre with a minimum gross floor area (GFA) of 5,382 square feet; this amount must be calculated as part of the development's maximum GFA.
"Once the CRL is operational, the development will have easy access to Jurong Lake District and Clementi, as well as other parts of Singapore," according to URA. It will also have easy access to the city centre and Singapore Botanic Gardens along the DTL.
A maximum of 282 private housing units could be built on the plot adjacent to the Holland Link site, which is up for application on the GLS program's reserve list.
