Wing Tai–Metrobilt JV clinches Dunearn Road GLS site with $1,625-psf-ppr bid

Six bids received for Turf City plot as top offer signals firm developer interest in prime site.

The joint venture between Wing Tai Holdings and Metrobilt Construction has emerged as the top bidder for the Urban Redevelopment Authority (URA) GLS site at Dunearn Road, submitting a bid of about $533m, or $1,625 per square foot per plot ratio (psf ppr), in a tender that drew six bids.

The offer was 3.1% higher than the next highest bid from a consortium comprising Frasers Property, CSC Land Group, and Sekisui House.

The site is expected to yield about 330 residential units, alongside approximately 1,400 square metres (sqm) of commercial space on the first storey.

The tender outcome reflects continued developer interest in the Bukit Timah Turf City area, according to Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group.

He noted that the top bid was about 15.2% higher than the land rate achieved for the first Turf City parcel awarded in July 2025.

Quek said the site’s proximity to Sixth Avenue MRT station on the Downtown Line and the future Turf City station on the Cross Island Line, as well as nearby schools such as Methodist Girls’ School, could support demand.

He added that the inclusion of commercial space may provide added convenience for residents.

Separately, Tricia Song, head of research for Singapore and Southeast Asia at CBRE, said the tender “saw healthy participation and a top price above expectations,” which she attributed to developer confidence in the redevelopment of the former Turf City.

She noted that the price gap between the highest and lowest bids was under 10%, indicating “consensus on the site”.

Song added that the higher bid compared to the earlier Dunearn Road parcel may reflect attributes such as park frontage and the inclusion of a commercial component.

CBRE estimates that, based on the top bid, the future project could launch at an average price of $3,200 to $3,300 psf.

The relatively narrow spread between bids suggests “greater alignment of developers’ assessment of the area,” according to Wong Siew Ying, head of research and content at PropNex.

She added that the $1,625-psf-ppr land rate appears firm and is at the higher end of expectations, pointing to a degree of optimism around CCR demand and the site’s long-term potential.

Wong also noted that the Core Central Region (CCR) saw 1,916 new private homes sold in 2025, the highest in four years, which she said has supported developer interest in such sites.

The Dunearn Road parcel is the second site released within the Bukit Timah Turf City precinct, which is being redeveloped into a new residential estate.

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