Wing Tai-Metro paid $1,625 psf ppr ($533M) for the second Turf City parcel, edging Frasers' JV by 3.1% in a six-bidder fight that finished within a 9.8% spread. Our standard formula puts launch around $3,624 psf at full margin; PropNex, SRI, and CBRE estimates cluster $3,000-$3,300 psf, so a realistic average lands $3,200-$3,500. The site sits seven minutes from Sixth Avenue MRT (DT7) and is ringed by the Bukit Timah school belt — though the strict 1km Primary 1 priority status for this parcel is TBD until MOE / OneMap publish the catchment from the development's official address.
What Wing Tai Just Paid For Bukit Timah
Source: URA Master Plan via OneMap
Six developers wanted this Bukit Timah new launch parcel. Wing Tai Holdings and Metro Holdings paid $533M — $1,625 psf ppr — for the second Dunearn Road condo site in Bukit Timah's Turf City precinct, edging Frasers Property's joint venture by 3.1%. The bid spread from top to bottom was 9.8%, with the top four bids inside 6.4%. That's not a quiet tender. That's six of Singapore's largest developers all reading the same demand signal.
The standard pricing formula points to a Dunearn Road price of around $3,624 psf at full developer margin. PropNex, SRI, and CBRE estimates cluster $3,000-$3,300 psf, which still leaves Wing Tai a healthy margin above breakeven. Realistic range: starting from the low $3,000s for entry stacks, averaging $3,200-$3,500 across the development.
Floor plans aren't out. Unit mix isn't designed. This Dunearn Road review is the early read — what we have is the land cost, and the land cost says people pay for the Bukit Timah postcode.
How We Review: The QPE Framework
Every review runs through our QPE framework — Quality, Price, Exit. GLS articles stop at the land calculation; full QPE scoring needs floor plans and confirmed pricing.
The Land: 1.6 Plot Ratio, 330 Units
The site is the second of two adjacent Dunearn Road parcels carved from the Turf City masterplan. The first — a 380-unit Frasers + CSC + Sekisui project now branded as Dunearn House at $1,410 psf ppr — sits next door and is expected to launch in the second half of 2026. Wing Tai's parcel will follow in 2027-2028.
| Detail | Dunearn Road GLS (Site 2) |
|---|---|
| Site area | 205,010 sqft / ~19,046 sqm |
| Maximum GFA | 328,022 sqft |
| Plot ratio | 1.6 |
| Tenure | 99-year leasehold |
| Estimated units | ~330 residential units |
| Commercial GFA cap | 15,069 sqft (5,070 sqft shops + ≥10,764 sqft supermarket) |
| Zoning | Residential with commercial at first storey |
| Tender close | 28 April 2026 |
| Top bid | $1,625 psf ppr (Wing Tai-Metro JV) |
| Total land cost | $533M |
Source: URA tender results, April 2026
Plot ratio 1.6 is the structurally important number. Compared to the Dover Drive GLS at 4.2 — or typical RCR towers in the 3.5-4.0 range — this is a low-density envelope. Closer to landed-adjacent boutique living than tower-stack density. That's part of what Bukit Timah buyers are paying for: lower massing, more breathing room, fewer neighbours per floor. Combined with a supermarket-anchored ground floor and a Sixth Avenue MRT walk of about seven minutes, the masterplan is built for the resident who never wants to drive to buy groceries.
What $1,625 PSF Means For Dunearn Road Pricing
The Dunearn Road price math starts with the land cost and scales out from there.
The GLS Pricing Formula
| Layer | Multiplier | Calculation | Running Total |
|---|---|---|---|
| Land cost | 1.00x | $1,625 | $1,625 |
| + 72% development costs | 1.72x | Construction, fees, marketing, financing | $2,795 |
| + 8% harmonised costs | 1.86x | Standardised adjustment | $3,023 |
| + 20% profit margin | 2.23x | Developer margin | $3,624 |
Estimated developer breakeven: $3,023 psf. Estimated launch at full margin: $3,624 psf.
That's the upper-end indication if Wing Tai prices to maximum margin. Analyst estimates cluster lower:
- PropNex (Wong Siew Ying): "above $3,000 psf"
- SRI (Mohan Sandrasegeran): $3,150-$3,250 psf range
- CBRE: $3,200-$3,300 psf average
Wing Tai's most recent launch — River Green at River Valley (524 units, August 2025) — sold 88% in launch weekend at $3,130 psf average and is around 93% taken up as of late April 2026. That's the comp the consortium will be looking at when sizing the price at launch.
Realistic Launch Range, By Unit Type
| Unit Type | Estimated Size | Estimated Total Price (at $3,200-$3,500 psf avg) |
|---|---|---|
| 1-Bedroom | 470 - 500 sqft | $1.50M - $1.75M |
| 2-Bedroom | 650 - 750 sqft | $2.15M - $2.48M |
| 3-Bedroom | 950 - 1,100 sqft | $3.23M - $3.74M |
| 4-Bedroom | 1,300 - 1,500 sqft | $4.55M - $5.25M |
Entry stacks could test $3,000-$3,100 psf. Premium floors and stacks could move toward the $3,500-$3,624 ceiling. Whether Wing Tai prices the Dunearn Road condo closer to River Green's $3,130 or pushes harder toward our formula's $3,624 will depend on launch sequencing relative to Dunearn House — the first parcel lands first in 2H 2026 and sets a reference point for the corridor.
Wing Tai-Metro: A Bukit Timah Bet
Wing Tai Holdings is one of Singapore's longer-tenured developers, with a portfolio that leans premium — Le Nouvel Ardmore, Helios Residences, The Crest, and most recently River Green. Metro Holdings (via Metrobilt Construction) is the JV partner; the consortium routes through Wing Tai's Winrich Investment SPV.
The track record is what to read. River Green's August 2025 launch moved 460 of 524 units at $3,130 psf average — 88% take-up in a single weekend, climbing to 93% by April 2026. That's a developer who knows how to price a CCR launch into demand without leaving inventory on the shelf. Wing Tai also hasn't taken a GLS site since 2024 — meaning this is a deliberate conviction call, not a portfolio refill.
What this should tell you about the eventual product: expect Wing Tai's house style — clean, premium-leaning finishes, conventional layouts, family-sized units featured prominently. Don't expect aggressive layout experimentation. The plot ratio of 1.6 also means towers won't go very high, which favours larger floor plates and fewer units per floor — a meaningful quality-of-life upgrade over the dense vertical stacks elsewhere in the new launch market.
Dunearn Road's Primary 1 Catchment Is Still TBD
The site fronts Dunearn Road, with Bukit Timah Road parallel on the south side and the canal between them. Sixth Avenue MRT (DT7) on the Downtown Line is roughly 500m east — about a seven-minute walk. King Albert Park MRT (DT6) sits a similar distance west via Blackmore Drive and is slated to become a Downtown Line / Cross Island Line interchange around 2032. The proposed Turf City MRT on the CRL Phase 2 should land even closer to the development by the same horizon.
What this site has, regardless: the Bukit Timah school belt as a backdrop. Methodist Girls' School (primary and secondary) sits on Blackmore Drive, around the 1km boundary line. Henry Park Primary, Pei Hwa Presbyterian Primary, Raffles Girls' Primary, and Bukit Timah Primary are all in the surrounding area. Secondary and tertiary names — Hwa Chong Institution, Nanyang Girls' High, National Junior College — are part of the precinct.
What this site does not yet have: a confirmed Primary 1 priority catchment. The strict 1km / 2km Primary 1 priority bands are calculated by MOE / OneMap from a development's official address — and that address won't be assigned until further into the construction cycle. For parents whose buying thesis depends on a 1km Primary 1 lock, that means the catchment status is TBD pending official confirmation. Visual map distance is suggestive but not authoritative.
For everyone else — buyers who want a Bukit Timah address, low-density living, walkable groceries, and Downtown Line access — the schools sit in the surrounding lifestyle backdrop while the catchment question gets resolved.
Six Developers Bid For Dunearn Road
The bid table is the consensus.
| Rank | Bidder | Bid Amount | PSF PPR | % from top |
|---|---|---|---|---|
| 1 | Wing Tai Holdings + Metro Holdings JV | $533.0M | $1,625 | — |
| 2 | Frasers Property + CSC Land + Sekisui House | $517.0M | $1,576 | -3.0% |
| 3 | China Overseas Land & Investment | $501.9M | $1,530 | -5.8% |
| 4 | City Developments | $501.4M | $1,528 | -6.0% |
| 5 | UOL + Singapore Land + Kheng Leong | $500.6M | $1,526 | -6.1% |
| 6 | GuocoLand + Hong Leong Holdings | $485.5M | $1,480 | -8.9% |
Source: URA tender results, April 2026
Top to bottom spread: 9.8%. Top four within 6.4%. Six of Singapore's largest developers — including the Frasers JV that won the adjacent first parcel at $1,410 psf ppr nine months earlier — all wrote cheques within 10% of each other. That's a market that has agreed on what this land is worth.
Corridor comps tell the same story. The Dover Drive GLS (one-north) cleared at $1,556 psf ppr against expectations of $1,300-$1,400 — RCR land priced at near-CCR levels. The Tanjong Rhu Road GLS (waterfront D15) cleared at $1,455 psf ppr in the same tender batch as Dover Drive. The first Dunearn Road site cleared at $1,410. The Bukit Timah Road parcel awarded to HH Investment in 2025 cleared at $1,820 — pure CCR. This second Dunearn parcel slots right between the corridor's RCR ceiling and the prime Bukit Timah Road bid: a 15.2% premium over the adjacent first site, and a 10.7% discount to the Bukit Timah Road benchmark.
Resale comps in the immediate area give a useful price reference. New launch and resale are different products — the gap below reflects the standard new-launch premium and is not a direct apples-to-apples comparison.
| Project (Resale) | 2025 Median PSF |
|---|---|
| Fourth Avenue Residences (TOP 2022, 99-yr) | $2,551 |
| Maple Woods (freehold) | ~$2,205 |
| The Cascadia (freehold) | ~$2,400 |
| Royalgreen (TOP 2023, freehold) | ~$2,835 |
A new launch at $3,200-$3,500 psf would carry a meaningful new-launch premium over those comps — the standard CCR pattern, but worth weighing on exit timing once you account for the four-year SSD window.
Why People Pay For The Bukit Timah Address
Downside risk: Not rated.
No floor plans. No confirmed pricing. No transaction benchmark for this exact micro-product. Calling a downside rating now would be irresponsible.
The land cost is the signal. Six of Singapore's biggest developers agreed Bukit Timah commands $1,500-$1,625 psf ppr in 2026, and Wing Tai paid the top of that range to secure it. The buyer pool — Bukit Timah right-sizers from the Namly, Watten, and Greenwood estates; CCR investors; families anchored to the Hwa Chong / Nanyang / NJC corridor — is well understood by everyone at the table.
What to watch as the project evolves:
-
Launch timing relative to Dunearn House. The Frasers-led first parcel will set a $1,410 psf ppr-derived reference point in 2H 2026. Wing Tai's launch in 2027-2028 needs to justify the 15.2% land premium with product, finishes, or stack premium.
-
Unit mix. Plot ratio 1.6 with ~330 units suggests a meaningful share of family-sized 3BR and 4BR. A heavy 1BR/2BR skew would conflict with the address positioning and would surprise the market.
-
Layout quality. Wing Tai delivered conventional, premium-leaning layouts at River Green. Expect similar here — but verify when plans are released. Common rooms below 9 sqm at this price point would be a meaningful red flag for family buyers.
The Bukit Timah postcode does the heavy lifting at this Dunearn Road price. Should you buy Dunearn Road at $3,200-$3,500 psf? That depends on whether the eventual product justifies the postcode — the question that matters once layouts and pricing land. Too early to judge that — but not too early to map the floor. We'll publish a full Dunearn Road review with floor plans and confirmed pricing once the showflat opens.
Data sources: URA Government Land Sales tender results, April 2026; The Edge Singapore (tender results and analyst commentary from PropNex, SRI, and CBRE); Stacked Homes (precinct context and Wing Tai track record); URA Master Plan via OneMap (site geography); standard GLS pricing formula
Published by MJ Review Homes (reviewhomes.sg) | PropNex Realty Pte Ltd | Shaik Amar R058640H | Myra Jalil R058979B | +65 9690 5440 | +65 9738 3705
Dunearn Road GLS site
District 10 — Turf City precinct, ~7 minutes to Sixth Avenue MRT
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Dunearn Road GLS — QPE Score
All information provided is for general reference only and is based on current planning assumptions. Details are subject to change without notice and may vary depending on final design development, regulatory requirements, and operational considerations. No representation or warranty is made as to the accuracy or completeness of the information provided.
