CapitaLand and UOL-led consortium awarded Holland Drive GLS site

By Nicholas Lam
/ EdgeProp Singapore |
The $805.39 million bid put forward by the CapitaLand-UOL consortium is the highest out of three bids that the government received for the 133,330 sq ft residential site when the tender closed on May 14. (Map: EdgeProp's LandLens)
Join our  Telegram  channel and follow our  Facebook  for the latest update.
URA has awarded the tender for the recently closed government land sale (GLS) site at Holland Drive to a consortium comprised of CapitaLand Development (35%), UOL Group (35%), Singapore Land Group (20%) and Kheng Leong Co. (10%).
The consortium’s bid of $805.39 million was the highest of three bids received when the tender for the site closed on May 14.
The second highest bid of $765.26 million was jointly submitted by Hong Leong Holdings and Hong Realty. It was 5.24% lower than the winning bid.
The 99-year leasehold residential site sits in prime District 10 and has a maximum gross floor area of about 626,650 sq ft. This translates the winning bid to $1,285 psf per plot ratio.
A spokesperson for the CapitaLand-UOL consortium stated that it intends to develop two 40-storey condominium towers accommodating 680 units on the site.
According to estimates by Knight Frank Singapore and Singapore Realtors’ Inc, the launch price of future residential units built on the site could start at $2,800 psf. However, PropNex forecasts a lower possible average selling price starting from $2,700 psf.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More