Wing Tai Holdings subsidiary Winrich Investment and Metro Holdings subsidiary Metrobilt Construction placed the top bid for a Dunearn Road government land sales (GLS) site — at just under $533 million — beating out five others.
The bid is 3.1% higher than the second bid put in by Frasers Property, CSC Land Group and Sekisui House. Wing Tai and Metro’s bid translates to $1,625 psf per plot ratio (ppr).
The 99-year leasehold private housing parcel in Dunearn Road is the second GLS parcel to be closed in the Bukit Timah Turf City estate, and the third site to be closed within the Dunearn-Holland vicinity since 2025. It measures some 19,045 sqm with a maximum permissible gross floor area of 30,474 sqm.
Tan Hwee Bin, executive director of Wing Tai Holdings, says, “We are delighted to be awarded this site and to play a role in shaping the exciting Bukit Timah Turf City precinct. As one of the first movers, we look forward to creating a landmark development that helps define this new precinct."
"Our vision is to develop a luxurious residential development that is thoughtfully integrated with the precinct’s future masterplan, upholds the refined character of the Bukit Timah area and offers enduring appeal to discerning homebuyers," adds Tan.
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Wing Tai and Metro’s land rate is approximately 15.3% higher than the $1,410 psf ppr paid for the adjacent plot. The adjacent Dunearn Road site, awarded in June 2025, drew nine bidders and was subsequently awarded to a consortium comprising Frasers Property, CSC Land Group and Sekisui House. That site is expected to launch in 2H2026.
The bid spread between the top and sixth bidder is less than 10%, indicating market consensus on the site's value, notes Mark Yip, CEO of Huttons Asia. “The strong take-up in Newport Residences and River Modern in 2026 may have bolstered developers’ confidence in the Core Central Region.”.
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“This second Dunearn Road site offers a compelling value proposition to developers, given that it sits within the upcoming Bukit Timah Turf City estate, its manageable price quantum, and its highly attractive locational attributes,” says Newmark’s research head Wong Shanting.
According to Yip, the retail space on the first floor and potentially having Methodist Girls' School (Primary) within 1km of the site may have also contributed to the higher bid compared to the neighbouring Dunearn House.
The site is next to a future park and is equidistant to Sixth Avenue MRT Station and the upcoming Turf City MRT Station.
“The site is situated between Sixth Avenue MRT Station and King Albert Park MRT Station on the Downtown Line,” notes Wong. “King Albert Park is set to become a major interchange connecting the Downtown Line and the Cross Island Line by 2032. Moreover, the site is within 1km of the popular Methodist Girls' School, and within 1km to 2km of Henry Park Primary School, Raffles Girls' Primary School and Pei Hwa Presbyterian Primary School.”
The second Dunearn Road site is expected to launch in 2H2027, and may see average prices from $3,300 psf, according to Wong.
Another GLS site, located at Holland Plain, is set to close one week later on May 7, “offering those who miss this opportunity a chance to redirect their interest there”, adds Wong. “Collectively, these four sites will bring about 1,220 new homes over the next two years.”
Wing Tai’s strategic move
Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc. (SRI), says Wing Tai’s strong bid for the Dunearn Road site reflects a “strategic move” to replenish its land bank in the Core Central Region, “following a successful foray into the segment”.
“The group’s recent launch of River Green in August 2025 performed well, achieving a take-up rate of over 88% at launch,” he adds. “Against this backdrop, it is not surprising that Wing Tai is looking to build on this momentum by securing another CCR site. The Dunearn Road parcel presents an opportunity to capitalise on its recent success and maintain a pipeline of projects within the segment, particularly at a time when buyer demand in well-located areas remains supported by underlying demand fundamentals.”
Yip Hoong Mun, group chief executive officer and executive director of Metro Holdings, says, “We are pleased to have been awarded this prime site at Dunearn Road together with our longstanding partner, Wing Tai. This marks an opportunity for us to re-enter the Singapore residential market alongside an experienced and like-minded partner. We look forward to working closely with Wing Tai to deliver a development that offers enduring value and enhances the liveability of the Bukit Timah Turf City precinct over time.”
Turf City masterplan
Marcus Chu, CEO of ERA Singapore, says: “Bukit Timah Turf City is planned to become a new mixed public-and-private housing estate of roughly 15,000–20,000 homes, designed around conserved heritage structures such as the former grandstands, extensive green networks, and a new nature park of about 40 hectares.”
“The area will follow a car-lite, walkable approach with strong connections to parks, community spaces and amenities, anchored by the upcoming Cross Island Line’s Turf City MRT station. [Slated for] opening [in] 2032, [this will] improve access and support a sustainable, heritage-integrated neighbourhood,” adds Chu.
The site’s location within the future Turf City housing estate is expected to draw in bidders, given the appeal surrounding the new high-density housing estate in one of Singapore’s prime districts, says Chu. “The estate will feature a highly livable and inclusive living environment and will feature both public and private housing as the town is progressively developed in the next 20 to 30 years.”
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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