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A surprising lack of bids for Bukit Timah and Hillview GLS sites: Are developers less confident?

The bids for two land plots at Bukit Timah and Hillview were a surprise to market watchers this week. These mid-sized plots in proven areas were expected to draw substantial developer attention; especially with new launches seeing continued demand and a low supply of new homes. However, developer interest was lacklustre; and it may be a worry for anyone hoping.

Bukit Timah Link GLS site receives a top bid of $1,343 psf ppr

URA recently closed the GLS tender for Bukit Timah Link and Hillview Rise sites on November 2022. Both sites were the first to be launched for tender under the H2 GLS Confirmed List on Aug 13, 2022. The Bukit Timah Link site attracted five bids, with the top bid submitted by Bukit One, a subsidiary of Bukit Sembawang Estates at.

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