Both bids were above the previous record land rate. The third and lowest bid of $463.5 million came from a joint venture between Hong Leong Holdings subsidiary Intrepid Investments and TID, a joint venture between Hong Leong Group and Japan’s Mitsui Fudosan.
Sim Lian Group’s top bid of about $794 psf per plot ratio (ppr) for the second Woodlands Drive 17 executive condominium (EC) site marks a new record land price for an EC site, besting the previous high of $782 psf ppr for the first Woodlands Drive 17 EC site, which was awarded in August 2025 to City Developments (CDL).
The second Woodlands Drive 17 site attracted three bidders, HDB announced on Jan 13. Sim Lian’s $484 million bid was just 0.5% higher than the second-highest bid of $482.1 million, submitted by a joint venture comprising Qingjian Realty, Forsea Holdings and Jianan Realty Investments.
