Property analysts expect Dover Drive and Tanjong Rhu to draw strongest bids

For Tanjong Rhu Road, analysts again see keen interest, estimating two to seven bids at around $1,300 to $1,400 psf ppr.

Property analysts expect Dover Drive and Tanjong Rhu Road to attract the strongest developer interest among the three Government Land Sales sites launched this week, citing the rarity of GLS supply in those neighbourhoods since the 1990s and their strong locational pull.

This view was shared across commentary from PropNex, Realion, and Huttons. The Urban Redevelopment Authority opened tenders for the Dairy Farm Walk site (about 480 units), Dover Drive (about 625 units), and Tanjong Rhu Road (about 525 units) under the 2H2025 Confirmed List, with tenders closing between January and March 2026.

For the Dairy Farm Walk, analysts from PropNex and Realion expect more measured bidding, forecasting two to four bidders and land rates of roughly $900 to $1,100 psf ppr.

They noted the site’s appeal to buyers who value nature-side living near Hillview and Cashew MRT stations, whilst pointing out that OCR market conditions and future supply may temper bids.

Realion cited the about $1,020 psf ppr achieved by the adjacent Narra Residences parcel in January 2025 as the key benchmark.

Analysts indicated that Dover Drive is likely to see the most competition. They collectively project three to seven bids and pricing in the $1,200 to $1,400 psf ppr range.

Analysts highlight its position as the first plot in the new Dover–Medway neighbourhood, its mixed-use zoning with up to 3,000 square metres of commercial space, and proximity to one-north MRT, schools, and employment clusters. Limited unsold stock in the area and a “first mover” advantage were also cited.

For Tanjong Rhu Road, analysts again see keen interest, estimating two to seven bids at around $1,300 to $1,400 psf ppr. They pointed to its scarcity value as the first GLS plot there since 1997, walking access to the Thomson–East Coast Line, and proximity to the Sports Hub, Kallang Wave Mall, and East Coast Park.

Across the market backdrop, Huttons noted that developers remain selective but still need to replenish land, with unsold inventory around 17,209 units in 3Q 2025.

It added that the OCR supply is expected to peak around 2027, when projects from these sites could be ready for launch, which may intensify competition for buyers in that segment.

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