Sim Lian puts in sole bid of $1,491 psf ppr for second prime condo site in new Holland Plain precinct
Together, the two sites at Holland Plain (in blue) and Holland Link (in purple) could add about 510 homes. (Image: EdgeProp Landlens)
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Sim Lian Group has submitted the sole bid for a prime residential Government Land Sale (GLS) site at Holland Plain, months after clinching the adjacent plot at Holland Link. Together, the two parcels could add about 510 homes.
The developer put in a bid of $454 million, or a land rate of $1,491 psf per plot ratio (psf ppr), for the latest Holland Plain land parcel when the tender closed on May 7.
The one bid falls below analysts’ expectations that the tender might attract up to six bids, though the land rate is within the $1,400 to $1,500 psf ppr range they had predicted.
Despite this, Mohan Sandrasegeran, head of research and data analytics at SRI, says the lack of bids should not be “interpreted negatively”. Instead, the single-bid outcome reflects developers adopting a more selective and cautious approach, he notes.
Wong Siew Ying, head of research and content at PropNex echoes this view, adding that developers could be eyeing competing GLS sites in the Core Central Region (CCR) with “comparatively stronger connectivity and locational appeal”. For example, the residential plots at Peck Hay Road and River Valley Green (Parcel C), which were launched for tender on April 9.
Competition could also stem from nearby sites, adds Tricia Song, CBRE’s head of research for Singapore and Southeast Asia. This includes the second Dunearn Road site within the Bukit Timah Turf City precinct, which drew six bids at its close on April 28. The site was awarded to a joint venture between Wing Tai Holdings and Metro Holdings after submitting the top bid of $1,625 psf ppr.
Recent GLS site tenders near Holland Plain plot
Source: PropNex Research, URA
An upcoming residential precinct
Located in the Core Central Region (CCR), the 99-year leasehold site was launched for sale on Feb 26 as part of the 1H2026 GLS Programme. It spans 169,175 sq ft with a maximum gross floor area (GFA) of 304,524 sq ft, and can potentially yield around 280 homes.
It is the second plot to be launched in the upcoming Holland Plain private residential precinct, which will be on the doorsteps of the Rail Corridor and the Bukit Timah First Diversion Canal.
In July 2025, Sim Lian Group emerged the top bidder for the adjacent Holland Link parcel, which will feature about 230 residential units, and was later awarded the tender. The developer had bagged the 185,141 sq ft site for $368.37 million, or $1,432 psf per ppr — a sizeable 22% more than the second-highest bid.
In comparison, Sim Lian’s bid for the latest Holland Plain land parcel is 4.1% higher than its winning bid for the first site at Holland Link, based on the land rate. The firmer land rate suggests the developer’s optimism towards the long-term prospects of the Holland Plain precinct, says PropNex’s Wong.
Mark Yip, CEO of Huttons Asia, adds that Sim Lian Group stands to gain from the first-mover advantage in the emerging residential precinct, and is better positioned to manage risks and pricing in the area.
Including these two plots, a total of eight residential land parcels have been earmarked for the Holland Plain neighbourhood.
Located in District 10, the upcoming precinct is close to the Bukit Timah landed housing enclaves, including the Brizay Park, Garlick Avenue and Ewart Park Good Class Bungalow (GCB) areas. It is also near several schools along the Bukit Timah education belt, including Methodist Girls’ School, Raffles Girls’ Primary School, Nanyang Girls’ High School and Hwa Chong Institution.
Connectivity within the area is set to improve with the addition of the Corss Island Line station in King Albert Park, which is expected to open in 2032, notes PropNex’s Wong.
Positive momentum in the CCR
“Despite the tepid response, underlying demand fundamentals appear conducive to supporting upgrader interest for future private residential projects in Holland Plain,” says Marcus Chu, CEO of ERA Singapore.
He adds that the nearby Queenstown neighbourhood could provide a strong upgrader pool for future projects, with around 2,405 HDB flats reaching their Minimum Occupation Period (MOP) in 2026.
Within the CCR, newly launched 99-year leasehold projects have also seen strong demand. The most recent project, the 455-unit River Modern, saw a take-up rate of 90% at launch at average prices of $3,266 psf.
Elsewhere, Skye at Holland, a 666-unit development in Holland Village, moved 99% of its units at launch at an average price of $2,953 psf.
Given the land rate for the Holland Plain site, PropNex’s Wong reckons the average selling prices for the future development could potentially exceed $3,000 psf.
Meanwhile, CBRE’s Song says Sim Lian Group may opt to amalgamate the two adjacent Holland Plain plots into a 510-unit development, resulting in an average land rate of $1,464 psf ppr. Based on this, she projects launch prices for the future project to range between $3,000 and $3,100 psf.
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