Dunearn Road Plot 2: Wing Tai’s Record Bid Analysis |
Wing Tai Holdings and Metro Holdings JV submitted the top bid of $532.99 million — $1,625 psf ppr — when the Dunearn Road Plot 2 tender closed on 28 April 2026. Six developers competed. The spread between highest and lowest bids was 9.8%. CBRE projects a launch price of $3,200–$3,300 psf, 15.3% above Plot 1. Here is what that number means for buyers deciding between Dunearn House now and Wing Tai's project in 2027.
Wing Tai Holdings (via Winchamp Investment) and Metro Holdings (via Metrobilt Construction) won the Dunearn Road Plot 2 tender on 28 April 2026 at $1,625 psf ppr — 15.3% above Plot 1's $1,410 psf ppr. The second-highest bid of $1,576 psf ppr came from Frasers, CSC Land and Sekisui House (Plot 1's developer). CBRE estimates Wing Tai's project will launch at $3,200–$3,300 psf, making Dunearn House at $2,900–$3,100 psf the lower-entry first-mover option in the same masterplan.
What the Tender Result Means for Your Decision
The 15.3% land cost premium Wing Tai paid over Plot 1 flows directly into launch pricing. Buyers weighing Dunearn House against waiting for Wing Tai's project need the full picture — land cost, PSF gap, developer profile, and whether the $240,000–$360,000 differential on a 1,200 sqft unit is justified by what Wing Tai offers above Frasers.
- Plot 1 vs Plot 2 decision with the correct PSF differential
- Full BSD / ABSD / TDSR model with your actual numbers
- Floor and stack recommendation for long-term capital hold
- MCST and build quality read on Frasers × Sekisui vs Wing Tai × Metro
Dunearn House (Plot 1) VVIP preview is July 2026. Wing Tai's project is 2027 at the earliest. The first-mover entry window at Plot 1 pricing closes when it sells out.
That a 15.3% premium over Plot 1 means Wing Tai overpaid. The 9.8% bid spread between all six developers tells the opposite story — this was market consensus, not one outlier's bet.
The Full Tender Results — 28 April 2026
Six developers competed when the tender closed. The bid spread between the top and sixth bidder was less than 10%, indicating market consensus on the site's value. That is the defining number. When Plot 1 closed in June 2025, nine developers competed and the spread was 48.6% — deeply divided. A spread of 9.8% across six bids means the entire market essentially agreed on what this site was worth.
| Bidder | PSF PPR | Total Bid | Position |
|---|---|---|---|
| Wing Tai (Winchamp) + Metro (Metrobilt) JV ★ | $1,625 | $532.99M | Winner |
| Frasers Property + CSC Land + Sekisui House | $1,576 | $517M | 2nd · +3.1% behind winner |
| China Overseas Land & Investment (COLI) | $1,530 | ~$501M | 3rd · +6.2% behind winner |
| City Developments Ltd (CDL) | $1,528 | ~$500M | 4th |
| UOL Group + SingLand + Kheng Leong | $1,526 | ~$500M | 5th |
| GuocoLand + Hong Leong Holdings | $1,480 | ~$485M | 6th |
Sources: EdgeProp, CBRE Research — 28 April / 4 May 2026. URA official award confirmed 4 May 2026.
The note about Frasers coming second is significant. Plot 1's developer — the consortium who knows the economics of this site better than anyone — came back for Plot 2 and bid $1,576 psf ppr. Wing Tai cleared that by $49 psf ppr. Wing Tai's premium reflects the commercial podium GDV — 5,070 sqft of commercial space on the ground floor — and their specific conviction in anchoring the Turf City precinct's retail for 20–30 years.
"From Springleaf to Marina Bay, the NSC and TEL created one investment spine — still being priced in. Dunearn Road sits on the DTL at Sixth Avenue, one interchange from Newton and three stops from Orchard."
What $1,625 psf ppr Means for Launch Pricing
Three independent analysts gave their projections based on the winning land rate. All three converge on a range above $3,000 psf.
CBRE (Tricia Song): $3,200–$3,300 psf. SRI (Mohan Sandrasegeran): $3,150–$3,250 psf. PropNex (Wong Siew Ying): above $3,000 psf. April–May 2026.
The PSF differential between Plot 1 and Plot 2 is approximately $150–$250 psf on a like-for-like unit basis. On a 1,200 sqft 3-bedroom, that is $180,000–$300,000. Both plots share the same CRL 2032 tailwind, GFA harmonisation, school cluster and masterplan. The gap is the land cost premium — and it is quantified, not estimated. For the full mechanics of how GLS land costs translate into launch prices, the Singapore GLS guide covers the arithmetic.
Want James to model your all-in entry cost for Dunearn House? Full BSD, ABSD, TDSR and CPF — so you see the real number before VVIP preview day.
WhatsApp 91111173The 9.8% Bid Spread — Why This Matters More Than the Headline PSF
The bid spread tells you how much developers agree on a site's value. A wide spread means divided opinion — one outlier bid up to win. A narrow spread means consensus — multiple developers ran similar feasibility models and arrived at similar numbers.
Plot 1 closed with a 48.6% spread. Nine developers, deeply divided. Plot 2 closed with a 9.8% spread. Six developers within $145 psf ppr of each other. CDL, UOL and COLI — three of Singapore's most experienced residential developers — bid $1,526–$1,530 psf ppr, within $4 of each other. That cluster is the market's honest view of the residential value of this site.
Wing Tai's $1,625 psf ppr sits $95 above that cluster. The premium reflects the commercial component — 5,070 sqft of commercial space on the ground floor — and Wing Tai's conviction in anchoring Turf City's retail precinct. For buyers assessing Dunearn House (Plot 1), the implication is straightforward: six sophisticated developers confirmed the site's residential value sits around $1,478–$1,530 psf ppr. Dunearn House was built on land acquired at $1,410 psf ppr. The consensus floor is above that. There is no valuation risk at Plot 1's entry price.
Why the Developer Combination Matters for Plot 2 Buyers
Wing Tai is not a volume developer. Their Singapore portfolio — The M, Nouvel 18, The Crest, Le Nouvel Ardmore — sits consistently at the premium CCR and upper RCR end. They finish well, price confidently, and do not discount to clear inventory when market conditions are soft. For buyers who want the Wing Tai brand and finishing standard, Plot 2 is worth the premium.
Metro Holdings is a Singapore-listed retail and property group with experience in mixed-use development through Metrobilt. Their involvement is directly relevant to the commercial podium. A precinct that needs retail and F&B to function as a neighbourhood benefits from a developer who understands tenanting and commercial management — not just residential sales.
James has managed CCR and ultra-luxury residential estates for over a decade. Sinking fund structure, MCST governance and facilities management from day one differ significantly between developers. Frasers and Sekisui (Plot 1) and Wing Tai and Metro (Plot 2) both deliver above-market results — the question is which profile suits your specific needs. The full comparison of both plots is in the Dunearn House buyer's guide.
Would You Rather: Dunearn House Now or Wait for Wing Tai's Plot 2?
Dunearn House Plot 1 — July 2026
- $150–$250 psf below Plot 2 on same corridor
- $180K–$300K saving on 1,200 sqft unit
- Same CRL 2032 tailwind at lower entry
- Same school cluster — MGS, Nanyang, Hwa Chong
- Frasers × Sekisui proven build quality
- First-mover stack selection advantage
Wing Tai + Metro — 2027+
- Want Wing Tai's CCR finishing standard
- Want commercial podium on ground floor
- Larger 205,010 sqft site — more units
- Can absorb 12–18 months opportunity cost
Why the July 2026 VVIP Preview Is the Decision Point
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1Wing Tai Has Set the New Price Ceiling At $1,625 psf ppr, Wing Tai's winning bid is the new land cost benchmark for Turf City. Any future GLS sites in the precinct will reference this number. The $2,900–$3,100 psf entry at Dunearn House reflects Plot 1's lower $1,410 psf ppr land cost — not a discount on quality. Once Plot 1 sells out, that entry is gone.
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2Six Developers Confirmed the Site's Value CDL, UOL, COLI, GuocoLand, Frasers and Wing Tai all participated. Their bids clustered within 9.8% of each other. This is not one developer's conviction — it is market consensus that Turf City's residential value floor is around $1,478–$1,530 psf ppr. Buyers entering Dunearn House at $2,900–$3,100 psf are buying below the new benchmark set by Wing Tai.
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3CRL 2032 Is Not Yet in Either Project's Price The Cross Island Line Turf City station arrives 2032 — direct access to Jurong Lake District, Ang Mo Kio and Changi Airport without transfer. That connectivity premium is absent from both Plot 1 and Plot 2's launch prices. Buyers who enter now are positioned ahead of that structural uplift. For the full ABSD cost model if you're upgrading, the second-property ABSD guide covers the numbers.
The bid spread from these two Turf City tenders is the story most buyers have not read. Plot 1 in June 2025: nine developers, 48.6% spread — one developer's conviction bought the site. Plot 2 in April 2026: six developers, 9.8% spread — the entire market agreed on the value. That shift from divided opinion to consensus in under 10 months is the clearest signal available that developer confidence in this precinct is not softening. It is hardening.
I've watched buyers hesitate on Dunearn House because $2,900–$3,100 psf feels expensive for a new estate. The comparable they should be looking at is not nearby resale condos at $2,522 psf — those are pre-CRL, pre-harmonised, pre-masterplan. The comparable is what Wing Tai just paid to build next door, and what CBRE says that implies for their launch price. When the developer with the strongest CCR brand in Singapore pays $1,625 psf ppr and their competitor consortium (Plot 1's own developer) bids $1,576 — both above what analysts expected — the question is not whether the site is worth it. The question is which entry point you want.
If you want to walk through the Plot 1 vs Plot 2 decision with your specific numbers: 91111173 →
Both Plots — Side by Side
| Factor | Plot 1 — Dunearn House | Plot 2 — Wing Tai + Metro JV |
|---|---|---|
| Developer | Frasers + Sekisui + CSC | Wing Tai (Winchamp) + Metro (Metrobilt) |
| Land rate | $1,410 psf ppr | $1,625 psf ppr (+15.3%) |
| Tender date | 26 June 2025 · 9 bidders · 48.6% spread | 28 April 2026 · 6 bidders · 9.8% spread |
| Total bid | $491.5M | $532.99M |
| Site area | ~145,000 sqft | 205,010 sqft |
| Units | ~380 residential | ~330 residential + 5,070 sqft commercial |
| GFA harmonised | ✅ Yes | ✅ Yes |
| Preview | July 2026 | Est. 2027 |
| Est. launch PSF | $2,900–$3,100 psf | $3,200–$3,300 psf (CBRE) |
| PSF gap on 1,200 sqft | $180,000–$300,000 in favour of Plot 1 | |
| CRL 2032 | Turf City station | Turf City station (same) |
| School cluster | MGS · Nanyang Primary · Hwa Chong | Same (adjacent site) |
| MRT | Sixth Avenue DT7 (~8 min walk) | Sixth Avenue DT7 (same) |
Sources: URA GLS tender results, CBRE Research, EdgeProp, The Edge Singapore — April–May 2026. Launch PSF figures are analyst projections pending official developer announcement.
FAQ — Dunearn Road Plot 2 Tender
Register for Dunearn House VVIP Preview — July 2026
30 minutes · No obligation · James responds same dayDunearn House VVIP preview is July 2026. Best stacks — high floor, Bukit Timah facing, away from PIE — go to registered buyers first. Wing Tai's project is 2027 at earliest.
Sources
- URA — Dunearn Road (2) GLS tender award, Wing Tai + Metro Holdings JV, $1,625 psf ppr (official award 4 May 2026)
- CBRE Research (Tricia Song) — tender commentary, expected launch $3,200–$3,300 psf (29 April 2026)
- EdgeProp Singapore — full bid results, Wing Tai-Metro JV tops six bids at $1,625 psf ppr (28 April 2026)
- The Edge Singapore — bid spread analysis, market consensus commentary (28 April 2026)
- Stacked Homes — $1,625 psf ppr confirmed, 15.2% above Plot 1 (28 April 2026)
- SRI (Mohan Sandrasegeran) — expected launch $3,150–$3,250 psf (April 2026)
- PropNex Research (Wong Siew Ying) — expected launch above $3,000 psf (April 2026)
- URA — Dunearn Road (1) GLS tender award, Frasers + CSC + Sekisui, $1,410 psf ppr (June 2025)
All estimated launch prices are analyst projections based on publicly available land cost data. Official pricing is subject to developer announcement. This article is for informational purposes only. Property investment involves risk. Seek independent financial and legal advice before transacting.
James Ong · CEA Reg No. R008385F · PropNex Realty Pte Ltd
WhatsApp: 91111173 · wa.me/6591111173
