The 1.57-hectare Holland Plain government land sales (GLS) site drew just one bidder at the close of its tender on May 7, with Sim Lian Group placing the sole bid of $454 million, or about $1,491 psf per plot ratio (psf ppr).
This land rate is slightly higher than the winning $1,432 psf ppr bid placed by Sim Lian for the adjacent Holland Link site, which was awarded in August 2025. Sim Lian had outbid four others back then, with its top bid a staggering 22% above the next-highest bidder.
“Having already secured the Holland Link site, the developer was likely motivated to defend their position and strengthen their foothold in the new Holland Plain private housing estate. There could also be potential synergies in planning, design and eventual project execution across the two neighbouring sites,” says ERA Singapore CEO Marcus Chu.
The Holland Plain site can yield approximately 280 residential units, while the Holland Link site can potentially house 230 units. “The proximity of both sites presents a unique opportunity for Sim Lian to curate the precinct’s first large-scale development,” adds Chu.
The Holland Plain site presents a “relatively rare opportunity” within the Bukit Timah and Holland vicinity, says Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc. (SRI).
It is nestled within an established residential area within a 10- to 15-minute walk to King Albert Park MRT Station. Given its location within a low-density enclave, flanked by Brizay Good Class Bungalow areas (GCBA) to the north, Garlick Avenue GCBA to the east and empty land to the west, the precinct will be designed with generous park spaces and water-sensitive features in response to the surrounding green environment, notes Tricia Song, CBRE head of research, Singapore and Southeast Asia.
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The plot is situated within 1km of Methodist Girls’ School, while other popular schools nearby include Nanyang Girls’ High School, Raffles Girls’ School and Henry Park Primary School. There are also plans by the Urban Redevelopment Authority to introduce two new parks.
The solitary bid marks the lowest number of bids for a GLS tender since April 2025, when a plot in Media Circle (Parcel B) garnered no bids.
That said, “this should not necessarily be interpreted negatively”, says Sandrasegeran. “Developers are becoming increasingly selective and disciplined in capital deployment, particularly in areas where future supply visibility has increased progressively across the Holland Plain and Turf City precincts.”
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The newest and 99-year leasehold comparable in the area is Fourth Avenue Residences, completed in 2022 and located next to Sixth Avenue MRT Station. It has seen five resale transactions so far this year, according to CBRE, at a median price of $2,674 psf.
Non-landed private homes in the locale within 1km of the site are mostly freehold, including Maplewoods, The Cascadia, The Nexus and The Tessarina. Year to date, they have transacted at median prices from $2,154 psf for Maplewoods — the oldest development, completed in 1997 — to $2,280 psf for The Cascadia (completed in 2010).
CBRE’s Song says nearby competition could come from the two Dunearn Road plots in the former Turf City, which is undergoing rejuvenation.
The Dunearn Road site (380 units) received nine bids at the close of its tender in June 2025, and was awarded to a consortium of CSC Land, Sekisui House and Frasers Property at a top bid of $1,410 psf ppr.
The Dunearn Road (2) site (330 units), which closed on April 28 this year, drew six bids and was awarded to a joint venture between Wing Tai Holdings and Metro Holdings for $1,625 psf ppr on May 4.
Read about this year's GLS tenders:
Dunearn Road GLS site draws six bids; Wing Tai-Metro consortium on top with $1,625 psf ppr bid (April)
River Valley Green (Parcel C) GLS site in popular Great World area could ‘pique developer interest’ (April)
Peck Hay Road GLS site in Newton could draw up to eight bids: analysts (April)
Frasers Property-Mitsubishi Estate JV tops four bids for Kallang Close GLS site at $1,415 psf ppr (April)
Large 5.74ha Bayshore Drive mixed-use GLS site could draw $2 bil top bid: analysts (March)
Qingjian Realty, joint venture partners top Dover Drive GLS bid with $1,556 psf ppr (March)
URA launches GLS site at Holland Plain, with up to six bidders expected (February)
CDL-Woh Hup JV places top bid for Tanjong Rhu GLS site, beating out four others (February)
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