The Urban Redevelopment Authority has awarded the Orchard Boulevard residential site to the highest tenderer at S$181.9 million, or about S$1,755 per sq ft per plot ratio, setting the land cost for a new prime-district condominium.

TL;DR

  • URA announced on 4 November 2026 that the site went to Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd. for S$181,861,924.
  • The price is about 8.5% above the S$1,617 psf ppr paid for the nearby UpperHouse site in 2024, according to EdgeProp.
  • Analysts quoted by EdgeProp expect launch prices of roughly S$3,450 to S$3,600 psf, but no launch date or price has been announced.

What did URA award at Orchard Boulevard?

URA's media release of 4 November 2026 confirms that the site, sold under the Government Land Sales programme (a scheme under which the state sells land to private developers), went to the highest tenderer, a pairing of Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd. The tendered price is S$181,861,924, or S$18,890.82 per square metre of gross floor area (GFA, the total buildable floor space). The 99-year leasehold site covers 3,438 square metres and allows up to 9,627 square metres of GFA for residential use. The tender launched on 13 August 2026 and closed on 29 October 2026. EdgeProp reported the top bid as coming from a Hong Leong Holdings and TID joint venture; URA's release gives the company names only and does not state the ownership split.

How competitive was the tender?

EdgeProp, citing figures from URA's tender closing, reported five bids, from S$139.9 million (S$1,350 per sq ft per plot ratio, or psf ppr) up to the winning S$181.9 million (S$1,755 psf ppr). The top bid was 8.3% above the second-highest, S$167.85 million from Global Resource Construction. Analysts had expected four to five bids and a top bid of S$1,650 to S$2,050 psf ppr, so the result sits in the lower half of that range. PropNex's Wong Siew Yieng called it a firm bid and the third-highest pure residential land rate in the Core Central Region (the prime districts in and around the Orchard Road area) since 2018. SRI's Mohan Sandrasegeran said the site's more manageable scale may have encouraged developers to take part.

What could this mean for prime launch prices?

These are analyst estimates, not announced prices. Knight Frank's Leonard Tay estimates launch averages of about S$3,600 psf, while CBRE's Tricia Song projects roughly S$3,450 to S$3,550 psf. Huttons' Mark Yip points to the nearby UpperHouse, where the 3Q2026 median price was S$3,668 psf, as pricing support. EdgeProp reports that UpperHouse sold 162 units (53.8%) on its July 2025 launch day at an average of S$3,350 psf, and was 82.7% sold as of 28 October 2026 at an average of S$3,405 psf. EdgeProp expects the new site to yield about 110 units; URA has not stated a unit count.

Why does it matter?

Land is the largest cost input for a new condominium, so the award fixes the starting point for pricing in a district where recent launches have drawn buyers. It also shows developer appetite for smaller prime sites. For earlier detail on the five bids, see our report at https://propertynewsasia.com/hong-leong-tid-joint-venture-tops-orchard-boulevard-land-tender-at-s-1-755-psf-ppr-as-five-bids-come-in/ and for the wider land pipeline, see https://propertynewsasia.com/chuan-grove-and-plymouth-avenue-reserve-list-sites-could-yield-1-180-homes-what-happens-next/ . This article is not property or investment advice.

What is not confirmed?

The launch date, unit count, project name, launch prices and the developers' breakeven cost have not been announced. The ownership split between the two winning companies is not stated by URA. All price figures for the future launch are analyst estimates.

Frequently Asked Questions

Who won the Orchard Boulevard sale site?

URA awarded it to Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd. for S$181,861,924. EdgeProp reported the bidder as a Hong Leong Holdings and TID joint venture.

How much per square foot was paid for the land?

About S$1,755 per sq ft per plot ratio, or S$18,890.82 per square metre of GFA, which is 8.5% above the S$1,617 psf ppr paid for the nearby UpperHouse site in 2024, per EdgeProp.

When will the new Orchard Boulevard condominium launch?

No launch date has been announced. Analysts quoted by EdgeProp expect average launch prices of roughly S$3,450 to S$3,600 psf.

Sources and Method

Primary source: URA media release, Tender award for URA sale site at Orchard Boulevard, 4 November 2026 (https://www.ura.gov.sg/news/media/pr26-77/). Independent source: EdgeProp Singapore, Atiqah Mokhtar, 29 October 2026, on the tender closing, bids and analyst views. Per-sq-ft land rate and unit estimates are as reported by EdgeProp; we checked that S$181,861,924 divided by the 103,624 sq ft maximum GFA gives about S$1,755. Opinions and forecasts are attributed to the named analysts.