Singapore’s first Government Land Sale (GLS) site in the new Dover-Medway neighbourhood has attracted robust developer interest, with six bids submitted at the close of the tender on March 26. The top bid of S$951 million — translating to approximately S$1,556 per square foot per plot ratio (psf ppr) — came in at the upper end of market expectations, reflecting strong confidence in the area’s growth potential.

The winning bid was submitted by a consortium comprising Forsea Holdings, Qingjian Realty and Jianan Capital. Notably, this same consortium had previously secured two nearby sites in Media Circle in 2024 and 2025, reinforcing their strategic commitment to the one-north precinct.

Competitive Bidding Reflects Market Confidence

The second-highest bid of S$1,491 psf ppr came from a joint venture between Sunway MCL Land and CSC Land Group, just 4.4% below the top bid. Other notable bidders included:

• Frasers Property and Hoi Hup Realty (S$1,455 psf ppr)

• A consortium led by CapitaLand Development, alongside Mitsubishi Estate Asia, UOL Group, Singapore Land Group and Kheng Leong Company (S$1,453 psf ppr)

• Sim Lian Land and Sim Lian Development (S$1,366 psf ppr)

The lowest bid of S$1,360 psf ppr was submitted by a consortium including Intrepid Investments, GuocoLand and TID Residential.

The relatively narrow 14.4% gap between the highest and lowest bids suggests a broad consensus among developers regarding the site’s value and future potential.

Strategic Location with Strong Demand Drivers

The 99-year leasehold site is zoned for residential use with commercial space on the first storey and can yield approximately 625 private homes. Its prime location is one of its strongest selling points.

Situated near Dover Road and the future Dover Drive, the site is within walking distance to one-north MRT station and close to reputable schools such as Fairfield Methodist School (Primary) and Fairfield Methodist School (Secondary). Its proximity to the one-north business park — a key innovation and research hub — further enhances its appeal to both owner-occupiers and investors.

Developers are also optimistic about rental demand, given the concentration of technology firms, biomedical companies and research institutions in the vicinity.

First New Launch in Dover in Over 20 Years

According to the consortium, this project will mark the first new residential launch in the Dover area in more than two decades — a factor expected to drive strong pent-up demand.

The spokesperson noted that the site offers an opportunity to create a “distinctive development” within a new residential enclave. This aligns with broader plans under the Urban Redevelopment Authority Master Plan, where Dover-Medway is envisioned as a vibrant mixed-use neighbourhood within the Greater one-north hub.

Benchmarking Against Recent GLS and New Launches

Recent land sales and project performances in the area provide further context for the strong bidding:

• Media Circle (Parcel A) GLS site (March 2025): ~S$1,037 psf ppr

• Adjacent Media Circle site (January 2024): S$1,191 psf ppr

• Bloomsbury Residences (on Media Circle site) achieved over 80% take-up since its April 2025 launch

• Blossoms by the Park (2021 GLS): S$1,246 psf ppr

• The Hill @ One-North (2021 GLS): S$1,210 psf ppr

More recently, Lydenwoods demonstrated exceptional demand, selling 94% of its units at an average price of S$2,450 psf during its launch weekend in July 2025 — further reinforcing buyer appetite in the district.

Development Potential and Future Outlook

The Dover Drive site can be developed into a project with a maximum gross floor area (GFA) of approximately 611,099 sq ft. It will also include:

• At least 5,920 sq ft allocated for a childcare centre

• Up to 32,292 sq ft of commercial space

• A mandatory supermarket component of at least 10,764 sq ft

These integrated amenities are expected to enhance liveability and create a self-sustaining residential enclave.

---

PropertyForSale.com.sg Insights

The strong bidding outcome for the Dover Drive GLS site highlights a clear trend — developers are increasingly confident in city-fringe innovation hubs like one-north, where strong rental demand, limited new supply and excellent connectivity converge.

For buyers and investors, this signals potential upside in both capital appreciation and rental yields. With the first new launch in Dover in over 20 years on the horizon, this project could become a landmark development in the transformation of the Dover-Medway precinct.

JT Chia, Managing Director at PropertyForSale, said that based on the actual land bid of S$1,556 psf ppr and current market benchmarks in one-north / city-fringe areas, the project launch price would be in the following range.

• Entry units (1–2 bedders): ~$2,600 – $2,700 psf
• Average project price: ~$2,700 – $2,850 psf
• Premium stacks / higher floors: ~$2,900 psf or higher

"This Dover GLS is better positioned than Media Circle sites. It is walking distance to MRT (one-north)," he added.

For more in-depth property insights and transaction data, visit PropertyForSale.com.sg Research & Analysis.