When the tender for the second Dunearn Road GLS plot closed on 28 April 2026, it drew six bids — a healthy field for a Core Central Region site in a measured market. The Wing Tai–Metro joint venture's winning bid of $533,000,000, or $1,625 per square foot per plot ratio, was awarded on 4 May 2026.
Two numbers stand out. First, the margin: the top bid was just 3.1% above the second-placed consortium of Frasers Property, CSC Land and Sekisui House. A tight spread between sophisticated bidders signals a shared read on the site's value — this was not an outlier bid, but a market consensus with a competitive edge.
Second, the trajectory: $1,625 psf ppr is roughly 15.2% above the $1,410 psf ppr paid for the adjacent first plot only about ten months earlier. Land values in the precinct re-rated by double digits within a year, before a single project had even launched — a direct reflection of how the market now prices the Turf City transformation and the announced CRL station.
The bidder list itself is telling. Six groups spanning local blue-chips and international developers committed serious underwriting resources to this site. Developers bid with launch pricing models in hand; six of them independently concluded the numbers work at this land cost.
For buyers, the tender arithmetic frames expectations. Independent analysts quoted at the award projected launch pricing in the low-$3,000s psf. The adjacent plot's project, Dunearn House, launches first and will provide the precinct's first real price discovery — worth watching closely.
See the full pricing context and the Wing Tai–Metro profile for what the winning JV brings to the site.