Quick answer. Nine developers tendered for the Dunearn Road GLS site. The winning bid by Frasers Property, Sekisui House and CSC Land Group was S$491.45 million — translating to S$1,410 per square foot per plot ratio, just 3.7% above the second-highest bid. That gap, combined with the bidder count and the calibre of the JV, sends a clear signal about how the market reads the Bukit Timah Turf City precinct.
The bid stack, in full
| Rank | Developer | Tender Price | PSF PPR | | --- | --- | --- | --- | | 1 | Frasers Property, Sekisui House and CSC Land Group | S$491,454,208 | S$1,410 | | 2 | City Developments Ltd | S$474,028,000 | S$1,360 | | 3 | Sim Lian Group | S$463,150,000 | S$1,329 | | 4 | UOL Group, Singapore Land Group, Kheng Leong Co. | S$453,399,899 | S$1,301 | | 5 | Hong Leong Holdings & TID (Hong Leong × Mitsui Fudosan) | S$446,142,828 | S$1,280 | | 6 | China Overseas Land and Investment | S$436,100,000 | S$1,251 | | 7 | Sustained Land | S$404,888,000 | S$1,162 | | 8 | Kingsford Group | S$384,100,000 | S$1,102 | | 9 | Wee Hur Holdings | S$330,839,000 | S$949 |
Source: URA tender results.
Three signals to read out of this stack
1. Nine bidders is unusually high
For a District 11 GLS site of this size, nine bidders is a strong show of conviction. In recent years, several prime-area GLS tenders have closed with three or four bids — and a handful with just one. Nine indicates that the broader developer community, not just one or two contrarian houses, sees enough demand-side support to commit hundreds of millions of capital.
2. The 3.7% gap between top and second is tight
A 3.7% spread between the top and second-highest bidders means multiple developers independently arrived at very similar valuations of the site — which is what happens when the market consensus on launch pricing is firm. The opposite outcome (a wide gap to the runner-up) would imply the winner had paid a "winner's curse" premium. That isn't what happened here.
3. The buyer pool reads as quality
Look at who lost: City Developments at S$1,360, Sim Lian at S$1,329, UOL × SingLand × Kheng Leong at S$1,301, Hong Leong × Mitsui at S$1,280, and China Overseas at S$1,251. Four of these are top-tier developers known for disciplined land bidding. The fact that all four came in within ~10% of the top suggests the eventual launch pricing has multiple independent valuations underwriting it.
What S$1,410 PSF PPR likely means for launch pricing
Land cost is a strong predictor of launch PSF, with rules of thumb that vary by site type and prevailing market conditions. For a 99-year leasehold in District 11 with two MRT lines and master plan upside, the historical pattern suggests a launch PSF that prices in:
- Land cost (S$1,410 PSF PPR)
- Construction cost (varies — typically S$400–550 PSF for premium executions)
- Soft costs and finance (typically 8–12% of total)
- Developer profit margin (typically 10–15% on a project of this calibre)
Stacked together, this points to a launch range that puts Dunearn House in the company of recent prime District 11 leasehold launches. We will publish the developer's official guidance the moment it is released — register on the price page to get it as soon as it drops.
Why Bukit Timah Turf City matters to this bid
A bid of this size only makes sense if developers expect the precinct to support strong absorption at the implied launch PSF. The pieces that justify it:
- First-mover position inside a 176-hectare URA master plan with 15,000–20,000 future homes.
- Two MRT lines within walking distance — DT7 today and CR14 by 2032.
- The Bukit Timah school belt — among Singapore's most enduring demand drivers.
- Three pedigree developers with track records of selling out premium launches.
For the deeper picture on the precinct, see our Turf City master plan explainer.
Frequently asked
Was this the highest bid of the year for a District 11 GLS site? Yes — at the time of award, Dunearn Road was the most contested D11 GLS, both by bidder count and by absolute land cost.
Does a high land bid mean an expensive launch? Land cost is one of several inputs to launch pricing. The closer-than-typical bidder spread suggests the market consensus is well-anchored, which typically constrains how aggressively a developer can price.
Who is leading the JV? The three developers operate as a joint venture. Frasers Property, Sekisui House and CSC Land Group all bring delivery capability — for context on each, see our developer track record.