URA launches GLS site at Holland Link: Commentary by ERA

SINGAPORE, 03 Decemeber 2024 – The tender for the Government Land Sale (GLS) sites at Holland Link launched on 3rd December 2024. The site can potentially yield about 230 units. The tender for sale will close at 12 noon on 29 July 2025.

Rare, Tranquil Site in Bukit Timah

The Holland Plain precinct is slated as one of URA’s three upcoming precincts alongside Bayshore and Kampong Bugis. As part of development plans, the Masterplan envisions the precinct to feature an abundance of park spaces.

Singaporeans today are less deterred by residential sites located near columbariums, as evidenced by the resilient residential demand in areas like Mount Vernon and Bishan.

 The site’s prime location in Bukit Timah could be an advantage as residents have access to a variety of Singapore’s top schools in within a 2km radius. This could be a plus factor for families with young children looking for priority admission into these schools.

The site is located near to Singapore’s Rail Corridor, which offers residents a convenient option for lifestyle activities and a retail component, the Rail Mall.

Plans for the development of the Holland Plain precinct will emphasize on the inclusion of green spaces and garden living, and introduce the concept of car-lite commute in the area while also improving the connectivity to transport nodes in the future.

Right Sizers from Landed Homes

Given its location within an established residential enclave, the location will appeal to residents living in surrounding landed homes. These could include owners looking to right-size or those looking to stay near their extended families.

Site’s Location Could Overshadow Potential as Emerging Precinct

The site will be leading the development of the precinct, with an estimated total of up to 2,500 new homes planned for development. Developers could bid for the site to leverage on first-mover advantage by injecting the first 230 units in the pipeline.

The Holland Link site is the smallest GLS site on the 2024 GLS Confirmed List, highlighting the potential when undertaking on such a palatable development size in a prime residential area.

Given the height constraints, developers may choose to position the project as a low-rise, prime development in Bukit Timah within Holland, and developers will be in no hurry to sell out the project.

The recent Faber Walk GLS site, which was located a distance away from transport nodes and amenities, closed with only three bids. This further illustrates developers’ weaker sentiments towards such sites in recent tenders, and could be similarly reflected in the bids for the Holland Link site.

Other Considerations Influencing Developers’ Sentiment

Recent GLS sites have been assigned a longer window for developers to submit bids. With a total of seven residential sites currently open for tender, saturation could occur in tender process for these sites. Hence, we may not observe the same level of interest for the Holland Link site that developers have shown for previous emerging townships.

Conclusion

We can expect the site to receive a muted response similar to that observed at Faber Walk. A total of two to three bids could be observed, from developers who are keen in revitalising the market with new units.