Grand Dunman 名⻔世家

SingHaiyi Wins Dunman Road GLS At $1,350 psf ppr

On 2 Jun 2022, Dunman Road’s GLS site attracted two bids. Singhaiyi Group aced the bidding with $1.284 billion or $1,350 psf per plot ratio (psf ppr), and a consortium consisting of City Developments Ltd (CDL), Hong Leong Group and TID came in second with $1.067 billion or $1,122 psf ppr. It has since been named as Grand Dunman condo .

The Dunman Road tender closing shows that developers are cautious about acquiring large residential sites, as evident in the low tender participation. Even though Piccadilly Grand and Liv@MB launched recently and there are very few unsold units.

A top bid of $1,350 psf ppr reached a 20.3% premium over the lower bid of $1,122 psf ppr, showing a restrained bid by the lower bidder. This is the greatest percentage difference in a residential GLS tender since the GLS bid in Sep 2018 for Jalan Jurong Kechil. Between the highest and second-highest bids in the Jalan Jurong Kechil GLS tender, there was a 31.3% difference.

Approximate Number of Units To Be Built:

A residential project of approximately 1,040 units could be developed at the Dunman Road site.

Other Upcoming District 15 Sites:

In January this year, CDL had paid $1,302 psf ppr for the GLS site at Jalan Tembusu, also in District 15. SingHaiyi has submitted a price of $1,350 psf ppr, which is about 4% higher than CDL’s $1,302 psf ppr. At the close of the tender, eight bids had been received for the Jalan Tembusu site, which could yield about 640 units.

District 15 has two large developments scheduled for launch over the next few years, namely Jalan Tembusu GLS and Thiam Siew Avenue. Hoi Hup Realty and Sunway Developments acquired Thiam Siew Avenue en bloc last Nov 2021. An 820-unit new condominium could be built on the site.

Estimated Price For Grand Dunman 名门世家:

Dunman Road new condo (now known as Grand Dunman) site could sell for $2,200 to $2,300 per square foot.

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(Sizes subject to change)