A joint venture of Hong Leong Holdings and TID submitted the highest of five bids, S$1,755 per square foot per plot ratio (psf ppr), for the Orchard Boulevard government land sale site when the tender closed on 29 October 2026.

TL;DR

  • Hong Leong Holdings and TID bid S$181,861,924, or S$1,755 psf ppr, which EdgeProp reports is 8.3% above the second-highest of five bids.
  • Analysts quoted by EdgeProp and Stacked Homes project launch prices of roughly S$3,450 to S$3,800 psf for the roughly 110 homes the site can yield.
  • Not confirmed: the award. URA says its 29 October notice is not an announcement of tender award.

What happened at the Orchard Boulevard tender?

The Urban Redevelopment Authority (URA), Singapore's land-use planning agency, closed the tender for the Orchard Boulevard site on 29 October 2026. URA had launched the site on 13 August 2026 and says it will evaluate the bids and publicise the result later. The site sits at the corner of Orchard Road and Tomlinson Road. It covers 37,006 sq ft with a maximum gross floor area of 103,624 sq ft, a 99-year leasehold, a 20-storey height limit and a yield of up to about 110 residential units, according to EdgeProp and Stacked Homes.

Who bid, and how far apart were the bids?

EdgeProp, citing URA, lists the five bids below. Stacked Homes spells some tenderer names differently and gives the second bid as S$1,619 psf ppr, so the names should be checked against URA's annex before any hyperlinking or onward use.

  • Hong Leong Holdings and TID (joint venture): S$181.86 million, S$1,755 psf ppr
  • Global Resource Construction: S$167.85 million, about S$1,620 psf ppr
  • BBR Holdings, Mindarie Holding and Quarz Capital Group: S$160.72 million, S$1,551 psf ppr
  • Wing Tai Holdings: S$152.39 million, S$1,471 psf ppr (Stacked Homes lists Wincove Investment at S$1,470)
  • A consortium led by Macly Group including Roxy-Pacific Holdings: S$139.9 million, S$1,350 psf ppr

The top bid is about 30% above the lowest bid. Stacked Homes describes the leading bidder as a joint venture of the Hong Leong Group and Mitsui Fudosan, while EdgeProp lists it as Hong Leong Holdings and TID.

How does the top bid compare with expectations and nearby sites?

Analysts had expected four to five offers with a top bid between S$1,650 and S$2,050 psf ppr, according to EdgeProp. The winning-bid candidate is about 8.5% above the roughly S$1,617 psf ppr paid in 2024 for the nearby UpperHouse at Orchard Boulevard site by UOL Group and Singapore Land Group. Wong Siew Yieng of PropNex called the top bid a firm one and said it is the third-highest land rate for a purely residential government land sale plot in the Core Central Region (CCR), the prime districts in and around the Orchard area, since 2018. She said the wide spread between bids reflects differing views on the site and on upcoming CCR supply.

What could homes cost if the bid is awarded?

These are analyst projections, not confirmed prices. Knight Frank's Leonard Tay estimates launch prices around S$3,600 psf, and CBRE's Tricia Song projects an average of S$3,450 to S$3,550 psf. Stacked Homes quotes Newmark's Wong Shanting at from about S$3,500 psf and Mogul.sg's Nicholas Mak at S$3,500 to S$3,800 psf. As a nearby benchmark, EdgeProp reports that UpperHouse at Orchard Boulevard, a 301-unit project launched in July 2025, sold 162 units (53.8%) on launch day at an average of S$3,350 psf and was 82.7% taken up at an average of S$3,405 psf as of 28 October. Huttons' Mark Yip cites its third-quarter 2026 median of S$3,668 psf as pricing support.

Why it matters for Singapore property watchers

A tender with five bidders and a top bid in the lower half of the expected range gives a recent read on developer appetite for prime central land, with the gap between the highest and lowest bids showing how differently developers value the site. The 110-unit scale is small by recent standards, and EdgeProp's analysts say that may have encouraged participation. Property News Asia's recent coverage of the Marina Gardens Lane site awarded on a sole bid, the URA third-quarter 2026 private home price release and the Thomson Reserve launch gives wider context. This article is general information, not property or investment advice.

Frequently Asked Questions

When will URA announce the award?

URA has not given a date. Its 29 October notice says it will evaluate the bids, decide on the award and publicise the result later.

What does psf ppr mean?

It is the bid divided by the maximum gross floor area, the standard way to compare land prices. Here S$181,861,924 divided by 103,624 sq ft gives about S$1,755 psf ppr.

How many homes can the site yield?

Up to about 110 residential units, according to EdgeProp and Stacked Homes.

Is S$1,755 psf ppr a record for the area?

No. PropNex says it is the third-highest land rate for a pure residential government land sale plot in the CCR since 2018.

Sources and Method

This article is an original rewrite based on: EdgeProp Singapore, Hong Leong Holdings-TID joint venture submits top bid of $1,755 psf ppr for Orchard Boulevard GLS site (Atiqah Mokhtar, 29 October 2026); Stacked Homes, new Orchard Boulevard condo launch page (stackedhomes.com/new-orchard-boulevard-condo-launch/); URA media release, Tender closing for URA sale site at Orchard Boulevard (ura.gov.sg/news/media/pr26-76/, 29 October 2026). The bid figures are taken from EdgeProp's report of URA's results, because URA's own bid annex could not be opened. Forecasts and price estimates are attributed to the named analysts. Image: Ngee Ann City on Orchard Road, Calvin Teo, CC BY-SA 3.0, via Wikimedia Commons.