News · 3 November 2026

Orchard Boulevard GLS: Five Bids, $1,755 psf ppr Top Offer

Illustration of a tree-lined Singapore boulevard with modern luxury condominium towers and a cleared development site at dusk — Illustration (AI-generated).

The last big prime-district land tender of 2026 has a result. The Government Land Sales (GLS) site at Orchard Boulevard, which we flagged earlier this month, closed on 29 October 2026 with five bids. According to EdgeProp, the top bid came from a joint venture of Hong Leong Holdings and TID at $181.86 million, or $1,755 per square foot per plot ratio (psf ppr), for a plot that can yield about 110 homes.

Land prices are the starting point for what new homes will cost, so this bid gives buyers eyeing Orchard, Tanglin and Newton an early signal. Here is what was bid, what analysts are saying, and what to watch next.

The five bids

Rank	Tenderer	Bid	psf ppr
1	Hong Leong Holdings and TID	$181.86 million	$1,755
2	Global Resource Construction	$167.85 million	$1,620
3	BBR Holdings, Mindarie Holding and Quarz Capital Group	$160.72 million	$1,551
4	Wing Tai Holdings	$152.39 million	$1,471
5	Macly Group, Roxy-Pacific Holdings and partners	$139.90 million	$1,350

Source: URA, as reported by EdgeProp, 29 October 2026.

The winning offer was 8.3% above the second-highest bid, and the lowest bid was 30% below the top one. EdgeProp noted the outcome was within analysts' expectations of four to five bids and a top bid of $1,650 to $2,050 psf ppr.

The site

The 99-year leasehold plot sits at the corner of Orchard Road and Tomlinson Road. It measures 37,006 sq ft with a maximum gross floor area of 103,624 sq ft, and is within walking distance of Orchard Boulevard MRT station on the Thomson-East Coast Line. Neighbours include Cuscaden Residences (150 units), Park Nova (54 units) and Boulevard 88 (154 units).

How the bid compares

Versus the neighbouring UpperHouse site: the top bid is 8.5% above the $1,617 psf ppr that UOL Group and Singapore Land Group paid in 2024 for the site now occupied by UpperHouse at Orchard Boulevard.
Versus other CCR sites: Wong Siew Ying of PropNex described the bid as "a firm one" and the third highest land rate for a pure residential GLS plot in the Core Central Region (CCR) since 2018, after Peck Hay Road ($1,865 psf ppr, June 2026) and Bukit Timah Road ($1,820 psf ppr, November 2025).
Spread of bids: Wong said the wide range suggests developers had differing views of the site and of upcoming CCR supply. Several prime sites sold since November 2025 have yet to launch – Bukit Timah Road, Dunearn Road, Holland Plain, Peck Hay Road and River Valley Green (Parcel C) – and could together offer around 1,700 new homes.

What analysts expect for launch prices

Based on the $1,755 psf ppr bid, Leonard Tay of Knight Frank estimates the future project could launch at an average of around $3,600 psf. Tricia Song of CBRE projects an average of about $3,450 to $3,550 psf. These are estimates, not announced prices, and the developer has not yet set a launch date.

Recent sales next door give some context. EdgeProp reported that UpperHouse at Orchard Boulevard sold 162 of its 301 units (53.8%) on launch day in July 2025 at an average of $3,350 psf. Caveats lodged as of 28 October show it 82.7% taken up at an average of $3,405 psf. Mark Yip of Huttons Asia noted a median price of $3,668 psf at UpperHouse in the third quarter of 2026, which he called "key pricing support" for future projects nearby. Mohan Sandrasegeran of SRI said the "more manageable" scale of the new site – about 110 homes against UpperHouse's 301 – may have helped draw bidders.

Two Reserve List sites released – but unlikely to move soon

Two days earlier, on 27 October, URA released two more residential sites under the 2H2026 Reserve List: Chuan Grove (about 930 homes) and Plymouth Avenue/Dunearn Road (about 250 homes), the latter being the former Raffles Town Club site across from Stevens MRT station. A Reserve List site goes to tender only when a developer submits a minimum price the Government accepts.

According to The Edge Singapore, both PropNex and Huttons think neither is likely to be triggered soon. Wong of PropNex pointed to the unlaunched CCR supply listed above, and Yip said developers may wait for the 1H2027 GLS programme in case the sites move to the Confirmed List. For Plymouth Avenue/Dunearn Road, that means no new supply near Stevens and the Botanic Gardens is imminent.

What this means for D9–D11 buyers

Land costs are setting a floor. With recent CCR sites bought at roughly $1,750 to $1,865 psf ppr, developers are unlikely to price launches far below current levels. Our Q2 2026 prime price analysis shows the CCR has been the firmest segment this year.
Prime supply is arriving in tranches. Around 1,700 homes from already-awarded sites are still to come, so the market has choices, but not a flood. The September new home sales data showed only 40 of 296 sales were in prime districts.
Compare per square foot, not just per project. A boutique project of around 110 homes will differ from a 300-unit tower in unit mix, facilities and price. A guide to the upcoming 2026 new launches can help you shortlist.

Freehold, large-format homes in District 11 remain scarce – 32 Gilstead, with 14 units, is fully sold – so most buyers will be weighing leasehold launches. If you are comparing options, current launches include Dunearn House, Chancery Hill Collection and The Serra Residences in District 11, UpperHouse at Orchard, 21 Anderson and Amberwood at Holland in District 10, and River Modern in District 9. WhatsApp us for price lists, floor plans and showflat appointments.

This article is for general information only and is not financial or investment advice. Figures are from the sources below as at their publication dates; launch price estimates are analysts' views and may not materialise.