The Government Land Sale (GLS) site at Holland Link has closed with an unexpectedly strong response from developers. The tender, which wrapped up on 29 July, drew five competitive bids. Leading the pack was Sim Lian Group, with a top bid of S$368.37 million, translating to S$1,432 per square foot per plot ratio (psf ppr).
Table of contents
- A tender outcome beyond market expectations
- What to expect from the upcoming Holland Link condo
- Holland Link new launch pricing forecast
A tender outcome beyond market expectations
The Holland Link site was launched for sale in December 2024 as part of the 2H2024 GLS Programme. Its recent tender outcome exceeded earlier analyst forecasts that anticipated just one or two bids for the site at around S$1,200 to S$1,300 psf ppr.
Marcus Chu, Chief Executive Officer of ERA Singapore, noted that “this may be due to the recent recovery in CCR new home sales, which could have lifted developers’ confidence.” However, Holland Link’s land rate is in line with the recently awarded Dunearn Road parcel, which achieved a price of S$1,410 psf ppr.
Chu added that the top bid of S$1,432 psf ppr for Holland Link, being 22.2% higher than the second-highest offer, signals optimism about the site’s potential.
“As a CCR plot nestled within a tranquil landed enclave and located within the coveted 1km priority enrolment radius of Methodist Girls’ School, it holds a strong appeal for developers targeting various buyer segments,” he said.
The table below summarises the Holland Link GLS tender outcome:
| Ranking | Tenderer | Bid price | Bid price (psf ppr) |
|---|---|---|---|
| 1 | Sim Lian Group | S$368,368,368 | S$1,432 |
| 2 | Wee Hur Holdings | S$301,390,000 | S$1,172 |
| 3 | Kingsford Development | S$272,950,000 | S$1,061 |
| 4 | ABR Holdings, Roxy-Pacific Holdings, Macly Group, and LWH Holdings | S$270,081,688 | S$1,050 |
| 5 | Sustained Land | S$236,618,000 | S$920 |
The second bid came from Wee Hur Holdings, at S$301.39 million (S$1,172 psf ppr). Kingsford Development followed in third place with S$272.95 million (S$1,061 psf ppr). A consortium comprising ABR Holdings, Roxy-Pacific Holdings, Macly Group, and LWH Holdings submitted the fourth-highest bid at S$270.08 million (S$1,050 psf ppr). Sustained Land rounded out the list with a bid of S$236.62 million (S$920 psf ppr).
Its location is particularly noteworthy as it is the first GLS plot within the upcoming Holland Plain precinct. An adjacent site on the Reserve List of the same GLS programme remains open for application and could potentially deliver an additional 280 units, further shaping the residential landscape in the area.
What to expect from the upcoming Holland Link condo
The Holland Link plot spans 183,729 sqft and can be developed into a six-storey residential project with a maximum GFA of 257,225 sqft. The URA has capped the number of units at 233, ensuring traffic in the surrounding area is manageable.
A key feature of the project will be an early childhood development centre (ECDC), which will provide infant and childcare services. This facility will occupy at least 5,382 sqft of GFA and is counted as part of the site’s maximum allowable floor area.
The Holland Plain precinct, where the site is located, is envisioned as a leafy, low-density neighbourhood within the Bukit Timah Planning Area. The precinct is earmarked for around 2,500 new homes, positioning it as a future growth area with a blend of exclusivity and modernity.
The area is framed by notable landmarks: Brizay Park Good Class Bungalow (GCB) area to the north, the Holland Green Linear Park and Greenleaf landed estate to the south, the Rail Corridor to the west, and low-rise housing at Garlick Avenue to the east.
Residents will also benefit from the future King Albert Park (KAP) MRT interchange, which will link the Downtown Line (DTL) with the upcoming Cross Island Line (CRL). A new CRL station exit is planned within the north-west section of the Holland Plain precinct, improving connectivity to the city centre, Singapore Botanic Gardens, Jurong Lake District, and Clementi.
School proximity adds to family appeal
The Holland Link new launch site falls within a 2km radius of several well-regarded schools, a factor that often influences residential demand and resale values. These include Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College. For families seeking priority admission, the location offers a compelling advantage.
Holland Link new launch pricing forecast
At a land rate of S$1,432 psf ppr, the future launch pricing for the Holland Link project will likely reflect a premium. Wong Siew Ying, Head of Research and Content at PropNex, estimates the average selling price could exceed S$2,900 psf, given rising construction costs and the project’s prime CCR location. This estimate is consistent with current CCR launches, where new projects are typically priced in the S$2,700 to S$3,100 psf range, depending on unit sizes and unique selling points.
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