The Dorset Road site in Singapore’s Kallang area (Image: Google)
A consortium of UOL affiliates entered the highest bid of S$524.3 million ($404.6 million) for a residential site in central Singapore’s northern fringe, according to the Urban Redevelopment Authority.
UOL Group, Singapore Land and Kheng Leong overcame eight competing bids for the Dorset Road site with an offer equivalent to S$1,338 ($1,032) per square foot of accommodation, the URA announced after the tender’s closing on Thursday. The second-highest bid of S$1,324 per square foot was submitted by a five-party investor group of ABR Holdings, LWH Holdings, Macly Capital, RP Ventures and Wee Hur Property. Other tenderers included Singapore builders Hoi Hup and Sim Lian and China’s Kingsford and COLI.
The Dorset Road plot lies near Farrer Park MRT station on the North-East Line in the Kallang area. The UOL-led venture plans to develop two 27-storey towers on the site with 428 homes, said UOL chief investment and asset officer Shirley Ng.
“This site has strong locational attributes, with close proximity to Farrer Park MRT and within 1 kilometre (0.6 mile) radius to renowned schools such as St Joseph Institution Junior and Hong Wen School,” Ng said Thursday in a release. “If awarded, it will be a very timely replenishment for our residential stock.”
Plot Ticks the Boxes
The last new residential development in the vicinity of Dorset Road was the 408-unit Piccadilly Grand, according to local broker PropNex.
Urban Redevelopment Authority chief executive Lim Eng Hwee (Image: URA)
The joint project of City Developments Ltd and Hongkong Land transacted 77 percent of its units at launch in May 2022 and is nearly sold out, having shifted 407 units at an average price of S$2,155 per square foot, PropNex said, citing URA data. The tender for the Northumberland Road site occupied by Piccadilly Grand had attracted 10 bids and was awarded in May 2021 for S$1,129 per square foot of accommodation.
In bidding for the Dorset Road site, developers would have considered the limited new condo supply in the area, the plot’s proximity to the city centre, its excellent transport links, the rich culture of the nearby Little India district and the range of amenities available to future residents, said Wong Siew Ying, head of research and content at PropNex.
“Furthermore, the GLS plot is a stone’s throw to the Farrer Park site, which will be redeveloped into a public housing estate that is integrated with sports and recreational facilities,” Wong said. “The rejuvenation of the area will enliven the neighbourhood and bring more facilities to residents.”
The tender decision for Dorset Road is expected to be announced at a later date.
City Fringe Rebounds
The Dorset Road site is poised to benefit from renewed market momentum in the city-fringe Rest of Central Region, according to local property agency SRI.
The first nine months of 2025 saw an estimated 2,951 units sold in the RCR, up sharply from 856 units sold during the same period in 2024, said SRI research head Mohan Sandrasegeran.
“The strong market response to recent RCR launches such as The Orie, One Marina Gardens, Promenade Peak, Lyndenwoods, and Bloomsbury Residences reflects buyers’ continued preference for developments offering city connectivity, established amenities, and lifestyle convenience,” Sandrasegeran said. “These projects have reinforced the RCR’s position as a key growth segment, bridging affordability and accessibility between the Core Central Region and the Outside Central Region.”
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