Second Dunearn Road site sells for $533 million, a land rate 15% above the first

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URA awarded the second Dunearn Road Government Land Sale site on 4 May 2026 to a Winrich Investment and Metrobilt Construction joint venture for $533 million, or $1,625 per square foot per plot ratio. This is the second site awarded in the upcoming Bukit Timah Turf City precinct, and its land rate was approximately 15% higher than the $1,410 psf ppr paid for the neighbouring site in July 2025. The two sites were bought by different developer groups: the first is entirely a residential development, while the second includes commercial space on the first storey. The higher bid points to stronger expectations for Bukit Timah Turf City, but it does not necessarily mean homes at the second project will launch at a higher price.

If you’ve been watching Bukit Timah Turf City for a sense of where new launch prices in the area might land, the latest land sale gives us another indication of how developers are valuing the emerging precinct. For buyers, the land sale is only the beginning of the story. The more practical question is how this new benchmark could shape the next launch, and whether buying into a neighbourhood still taking shape will offer better value than choosing an established Bukit Timah address nearby.

URA awarded the Dunearn Road Government Land Sale site to a joint venture between Winrich Investment, a Wing Tai Holdings subsidiary, and Metrobilt Construction, a Metro Holdings subsidiary, at a winning bid of $533 million. The site is on a 99-year lease, spans about 19,045.9 square metres, and has a potential yield of roughly 330 private residential units, alongside around 1,400 square metres of commercial space.

Six bids were submitted, ranging from approximately $485.5 million to $533 million. The winning bid translates to about $1,625 per square foot per plot ratio.

The gap to the next-highest bid was narrow. The winning offer was only about 3.1% higher than the $517 million bid from Frasers Property, CSC Land Group and Sekisui House, with the remaining four bids not far behind. A field that tight suggests the bidders arrived at broadly similar valuations rather than one aggressive bidder pricing well ahead of everyone else.

The site itself sits within walking distance of Sixth Avenue MRT station on the Downtown Line and near the future Turf City MRT station on the Cross Island Line, which is expected to open in 2032. The additional station should strengthen connectivity as the wider precinct develops. That’s a meaningful long-term connectivity upgrade for a precinct that’s currently better known for its green surroundings and school proximity than for transport links.

This is not the first private residential GLS site awarded in Turf City. The first Dunearn Road parcel, now developed as Dunearn House, was awarded in July 2025 to Frasers Property, CSC Land Group and Sekisui House at $1,410 psf ppr. The second site’s land rate of $1,625 psf ppr was 15.2% higher.

A land price increase doesn’t automatically translate into an equivalent jump in future launch prices, since construction costs, financing conditions and market sentiment at the time of launch all factor in too. But it is a meaningful signal given that developers were willing to pay noticeably more for the site. This points to real confidence in the precinct rather than a one-off high bid.

A higher land price tends to feed through into higher launch pricing, as developers price a launch well above their land cost per square foot to cover construction, financing and margin. Until the developer publishes prices for this project, treat the land price as a signal of direction rather than a preview of the eventual per-square-foot price.

For buyers hoping to get into Bukit Timah Turf City, the first site provides a useful benchmark. Dunearn House sold 212 of its 380 units at an average price of $3,140 psf during its launch weekend in July 2026. The second site’s higher land rate suggests its eventual launch is unlikely to be positioned as a bargain, although its different developer and commercial component mean the two projects can’t be compared directly.

For a prospective buyer, getting into a new precinct early does not necessarily mean securing a lower entry price. If affordability matters more to you than being an early mover, compare the future project with Dunearn House and established developments across Districts 10 and 11 rather than assuming Turf City will be cheaper simply because it is new.

A 15% increase in land rate in under a year suggests that developers are placing a higher value on Bukit Timah Turf City as the precinct takes shape. For buyers, however, a higher land rate does not automatically make the eventual project good value. The real test will be how its price and offering compare with Dunearn House and more established Bukit Timah developments when it launches.