The competition was fierce. Wing Tai and Metrobilt’s joint venture led the pack with an aggressive pricing strategy, followed closely by a Frasers Property‑led consortium that included Sekisui House and CSC Land. City Developments Limited and China Overseas Land & Investment both hovered around S$1,528 psf ppr, while UOL‑Singapore Land‑Kheng Leong offered S$1,526.28 psf ppr. Hong Leong‑GuocoLand came in last at S$1,480.01 psf ppr, roughly S$485.5 million.
Six bids, when analysts expected only four or five, echo the nine‑bid turnout of the June 2025 Dunearn Road tender – a clear sign that developers still see District 10 as a gold mine despite rising construction costs and tighter GFA harmonisation rules. The surge in developer interest mirrors the broader momentum of Singapore’s Government Land Sales programme, which has recorded its highest housing supply pipeline since 2013.
Price wise, the S$1,624.89 psf ppr figure is about 8 % lower than the S$1,540 psf ppr Fourth Avenue Residences price from 2017, reflecting market adjustments and the extra bite of Additional Buyer’s Stamp Duty for foreign investors. Yet it’s still a steep climb from the S$1,410 psf ppr S$491.5 million price of the previous June 2025 sale.
Nearby private condos in District 10 are trading at S$2,186‑S$2,772 psf, and PropNex projects the new development on this site will fetch over S$2,900 psf, with launch prices possibly hitting S$3,200 psf. The premium is driven by proximity to elite schools – Nanyang Girls’ High, Raffles Girls’ Primary, Hwa Chong – and a car‑lite design that cuts parking to 60 % of the maximum, aligning with sustainability goals.
In short, the auction tells a story of a market that’s still buzzing, like a hawker queue at lunch hour, even when costs rise. Developers are betting hard on a location that promises strong demand, limited supply, and a future where MRT connectivity and school prestige keep the price engine humming.
The result? A six‑way battle that pushed the price up, but not so high that the market loses its appetite. It’s a classic Singapore property dance – bold, competitive, and always a little unpredictable. (the highest‑turnout tender) tight spread between the highest and lowest bids underscores the intense competition.
