Holland Plain GLS Parcel 2— Overview

1. Project Factsheet

Factsheet Overview: Below is the technical specification breakdown for Holland Plain GLS Parcel 2 compiled from official Urban Redevelopment Authority (URA) master plan allocations and benchmark modeling data for District 10 land sales.

Factsheet Parameter	Project Details / Technical Specification
Project Name	Holland Plain GLS Parcel 2
Cadastral Lot & Sub-Zone	Lot MK04 Sub-Zone (Old Holland Road / Holland Plain)
District & Planning Area	District 10 (Tanglin / Holland / Bukit Timah) | Core Central Region (CCR)
Tenure	99-Year Leasehold
Site Land Area	Approx. 15,096 sq m / ~162,500 sq ft
Gross Plot Ratio	1.8 (Low-Rise Residential Envelope)
Maximum Gross Floor Area (GFA)	Approx. 27,173 sq m / ~292,500 sq ft
Height Limitation	Low-Rise Control (6 to 8 Storeys Maximum)
Estimated Unit Yield	270 to 285 Residential Units
Estimated Land Bid Rate	S$1,420 – S$1,480 psf ppr (Projected)
Estimated Developer Breakeven	S$2,250 – S$2,340 psf
Projected Launch Price Range	S$2,620 – S$2,850 psf Average
Nearest Primary Schools	Henry Park Primary School (Selective Stacks within ~1km), Methodist Girls' School (Primary) (1–2km)
Nearest MRT Stations	Sixth Avenue MRT (DT7) (~850m), King Albert Park MRT (DT6 / CR8) (~900m)

2. The Evolution of Holland Plain Parcel 2

Land Allocation Context: Positioned off Old Holland Road in the prestigious Core Central Region (CCR) boundary of District 10, Holland Plain GLS Parcel 2 forms an integral piece of the state's residential master plan for the Holland Plain sub-zone. Spanning approximately 15,096 square meters (~162,500 square feet) of 99-year leasehold land, Parcel 2 builds upon the urban trajectory set by Parcel 1 (awarded to Sim Lian Group at S$1,491 psf ppr) and the neighboring Holland Link site awarded at S$1,432 psf ppr. This sequential release strategy by the Urban Redevelopment Authority (URA) ensures controlled, non-flooding supply injection into an established low-rise landed and boutique condominium sanctuary.

Macro Developer Sentiment & Bid Mechanics: Current developer land acquisition behavior in Singapore reflects high selectivity. Mitigated by foreign Additional Buyer's Stamp Duty (ABSD) set at 60%, elevated macroeconomic borrowing costs, and stringent housing development timelines (5-year ABSD remission deadline), developers are consistently targeting sites with manageable total capital quantums (S$400M to S$500M) and strong domestic owner-occupier backing. Parcel 2 fits this precise sweet spot, offering an achievable total gross floor area (GFA) of 292,500 sq ft that can be rapidly absorbed by local high-net-worth (HNW) buyers and multi-generational upgraders from surrounding landed estates.

Benchmarking District 10 Land Rates Across Recent GLS Awards: To evaluate the land valuation trajectory for Holland Plain Parcel 2, we benchmark recent state tender results across District 10 and adjacent RCR transitional boundaries:

• Holland Plain GLS Parcel 1: S$1,491 psf ppr | Plot Ratio 1.8 | CCR | Awarded 2024
• Holland Plain GLS Parcel 2 (Subject Analysis): Est. S$1,420 – S$1,480 psf ppr | Plot Ratio 1.8 | CCR | Confirmed / Reserve Pipeline
• Holland Link GLS: S$1,432 psf ppr | Plot Ratio 1.4 | CCR | Awarded 2024
• Holland Drive GLS: S$1,285 psf ppr | Plot Ratio 4.2 | CCR | High-Density Mixed-Use Site
• Pine Grove Parcel B GLS: S$1,223 psf ppr | Plot Ratio 2.1 | RCR Boundary | Awarded 2023

Analytical Deduction: The land price parity observed between Holland Plain Parcel 1 (S$1,491 psf ppr) and Holland Link (S$1,432 psf ppr) demonstrates an established land valuation floor for low-density plots in District 10. The higher land rate for Holland Plain plots over Holland Drive (S$1,285 psf ppr) is justified by plot density: high-density 4.2 plot ratio sites require immense infrastructure outlays, carrying broader market absorption risk, whereas low-density 1.8 plot ratio sites in landed enclaves carry lower unit counts and faster sales velocity driven by local demand.

3. Land Cost Breakdown, Breakeven & Projected Launch Pricing

Cost Structure Decomposition: Determining the baseline economic viability for a prospective developer acquiring Holland Plain GLS Parcel 2 requires an itemized financial cost breakdown. The construction cost model accounts for low-rise premium finishing, basement parking excavation, land financing rates, professional fees, and marketing overheads.

Cost Pillar	Estimated Cost Basis (S$ per sq ft GFA/PPR)	Percentage Share of Total Cost Basis
Land Acquisition Rate (Estimated Baseline)	S$1,450	63.6%
Construction & Structural Engineering	S$530 – S$580	23.2%
Financing Interest, Legal, & Professional Fees	S$120 – S$140	5.7%
Marketing, Agency Commissions, & Admin Overheads	S$130 – S$150	6.0%
Total Estimated Developer Breakeven	S$2,230 – S$2,320	100.0%

Breakeven Floor Analysis: Assuming a baseline land bid of S$1,450 psf ppr, paired with average residential construction costs of S$550 psf GFA for high-end suburban-prime architectural specifications, and holding interest rates at 4.0% per annum, developer breakeven anchors near S$2,280 psf.

Projected Launch Price Bands & Profit Margin Scenarios: Applying standard corporate profit margin matrices (10% to 18% net profit margin on gross sales proceed totals), target selling prices for Holland Plain GLS Parcel 2 are modeled as follows:

• Conservative Launch Scenario (10% Margin): S$2,510 to S$2,580 psf average launch price.
• Base Case Scenario (14% Margin): S$2,620 to S$2,760 psf average launch price.
• Bullish Launch Scenario (18%+ Margin): S$2,790 to S$2,920 psf average launch price.

Valuation Positioning: A projected launch price tier hovering between S$2,650 and S$2,800 psf provides a compelling value proposition within District 10. Compared against prime core Orchard Road / Tanglin new launches which routinely trade at S$3,200 to S$3,800 psf, Holland Plain Parcel 2 presents an entry price point that appeals strongly to local owner-occupiers seeking prestige without central city pricing premiums.

4. Architectural & Density Constraints

Density Metrics & Massing Limits: Parcel 2 encompasses 15,096 square meters (~162,500 square feet) with a strictly enforced plot ratio of 1.8. This mathematical limit caps the maximum Gross Floor Area (GFA) at 27,173 square meters (292,500 square feet). Under URA development controls for the Old Holland Road sub-zone, structural heights are restricted to a maximum of 6 to 8 storeys.

Architectural Integration with Landed Enclaves: The 6-to-8-storey height restriction ensures that Parcel 2 blends seamlessly with adjacent landed housing zones (including Good Class Bungalows in Greenleaf Estate and Maryland Drive). This low-rise profile preserves the privacy and aesthetic continuity of the Old Holland Road enclave, preventing visual obstruction and high-density towers from dominating the local skyline.

Unit Yield Modeling & Size Distribution: Based on an average net unit footprint of 980 to 1,020 sq ft (reflecting a family-centric unit mix suitable for District 10 buyers), Parcel 2 is projected to yield between 270 and 285 residential units. The suggested unit distribution model is outlined below:

• 1-Bedroom + Study (approx. 520 - 580 sq ft): ~10% allocation (Targeting investors and young professionals).
• 2-Bedroom / 2-Bedroom + Study (approx. 680 - 780 sq ft): ~30% allocation (Targeting young couples and small family units).
• 3-Bedroom Premium / Compact (approx. 950 - 1,150 sq ft): ~40% allocation (Core product for primary school-seeking families).
• 4-Bedroom / 5-Bedroom / Penthouses (approx. 1,350 - 1,900 sq ft): ~20% allocation (Targeting landed downgraders and multi-generational households).

Efficiency & Landscaping Advantages: Low-density 1.8 plot ratio developments deliver superior living efficiency compared to high-density towers. With fewer units sharing site amenities, residents enjoy higher per-capita facility usage, larger swimming pool footprints, lower elevator wait times, and extensive ground-level biophilic landscaping integrated with the adjacent Bukit Timah First Diversion Canal.

5. Market Price Gap

District 10 Supply Squeeze Dynamics: District 10 has historically suffered from acute supply inelasticity. Because private en-bloc land acquisitions carry high premium expectations, prolonged owner negotiations, and high land conversion costs, state GLS releases along Holland Plain and Holland Link represent the primary pipeline for new master-planned housing stock in the area.

Price Gap Gradient (Primary vs. Secondary Market): To analyze future value retention, we evaluate transacted price tiers across different age brackets and tenure profiles within a 1.5 km radius of Holland Plain Parcel 2:

Development Category	Transacted / Projected PSF Range (2024–2026)	Tenure Type	Building Profile & Age
Core D10 Primary New Launches	S$2,900 – S$3,400 psf	Freehold / 99-Year	Under Construction (High/Mid-Rise)
Projected Holland Plain GLS Parcel 2	S$2,620 – S$2,850 psf	99-Year Leasehold	New Launch (Low-Rise 6-8 Storeys)
Modern Resale Condos (TOP 2017–2023)	S$2,400 – S$2,700 psf	Freehold / 99-Year	3 to 9 Years Old
Mature Resale Condos (TOP 2000–2012)	S$1,980 – S$2,300 psf	Freehold / 99-Year	14 to 26 Years Old

Analytical Deduction: The projected entry pricing of S$2,620 to S$2,850 psf for Holland Plain GLS Parcel 2 sits strategically between modern secondary resale developments and top-tier prime launches in Holland Village and Orchard. This pricing gradient creates a natural buffer for buyers, offering new-build quality and modern energy-efficient layouts at a manageable price differential over older resale alternatives.

6. Henry Park Primary & MGS Spatial Boundary Metrics

Educational Proximity Premium (The MOE Catchment Effect): In Singapore's primary residential real estate market, location within the official Ministry of Education (MOE) 1km Home-School Distance radius of top-tier primary schools generates consistent capital appreciation and strong rental demand. Properties within this zone enjoy superior liquidity during secondary resale market exits.

Henry Park Primary School Spatial Analysis: Henry Park Primary School, located off Holland Grove Road, is widely recognized as one of Singapore's premier co-educational primary institutions. Spatial analysis using OneMap government boundary data indicates that the land footprint of Holland Plain GLS Parcel 2 sits in close proximity to Henry Park Primary's official school perimeter access points:

• Southern Block Allocations: Residential blocks positioned on the southern edge of Parcel 2 are highly likely to fall directly within the critical 1km Home-School Distance radius, granting priority under Phase 2C MOE registration rules.
• Northern & Central Block Allocations: Blocks located on the northern boundary may sit within the 1km to 2km secondary preference radius.

Methodological Notice for Buyers: Exact eligibility for the 1km Henry Park Primary radius must be confirmed against final URA plot surveys and specific block stack coordinates upon developer launch.

Methodist Girls' School (MGS) Spatial Analysis: Located near King Albert Park MRT, Methodist Girls' School (Primary) serves as another highly sought-after educational institution for families in District 10. Holland Plain Parcel 2 is situated safely within the 1km to 2km zone for MGS, providing secondary registration eligibility.

Broader Educational Belt Synergy: Beyond primary schools, the site enjoys direct access via the Downtown Line to Singapore's premier secondary and tertiary education belt along Bukit Timah Road, including Nanyang Girls' High School, Hwa Chong Institution, National Junior College, and Anglo-Chinese School (Independent).

7. Transit Infrastructure, Road Networks & Rail Corridor Integration

Mass Rapid Transit (MRT) Connectivity: Holland Plain GLS Parcel 2 is positioned between two major stations on the Downtown Line (DTL), providing direct access to key employment centers across Singapore:

• Sixth Avenue MRT Station (DT7): Located approximately 850 meters east via Old Holland Road and Bukit Timah Road. DTL provides direct single-train connection to Botanic Gardens Interchange (CC19/DT9), Newton Interchange (NS21/DT11), Bugis (EW12/DT14), and Marina Bay Financial Centre (DT16/CE2).
• King Albert Park MRT Station (DT6 / CR8): Located northwest, King Albert Park will serve as a major interchange station connecting the Downtown Line with Stage 2 of the Cross Island Line (CRL). The CRL will dramatically shorten commute times to Clementi, Jurong Lake District (JLD), and the North-East region.

Vehicular Arterial Infrastructure: For private transport, Old Holland Road connects directly to Holland Road and Bukit Timah Road. Drive times to key commercial nodes are exceptionally efficient:

• Orchard Road Shopping Belt: 10 to 12 minutes drive via Holland Road.
• One-North Business Park & Biopolis: 8 to 10 minutes drive via Holland Road and North Buona Vista Road.
• Central Business District (Raffles Place / Marina Bay): 16 to 20 minutes drive via the Pan Island Expressway (PIE) or Holland Road.

Rail Corridor Green Network Integration: Parcel 2 features direct, motor-free pedestrian access to the Rail Corridor green trunk. Residents can step directly from their development onto continuous walking and cycling pathways stretching north to Woodlands and south to Tanjong Pagar and the Greater Southern Waterfront.

8. URA Master Plan & Old Holland Road Big Field Framework

The Holland Plain Urban Vision: Under the URA Master Plan, the land plot historically known as the "Old Holland Road Big Field" is being transformed into a master-planned, sustainable park-side residential community. Rather than releasing high-density mega-plots, the state has planned a sequence of low-rise parcels interspersed with water sensitive green spaces.

Water-Sensitive Urban Design (WSUD): The development framework integrates ecological water management alongside the Bukit Timah First Diversion Canal. Key urban design guidelines include:

• Canal Naturalization & Biophilic Trails: Upgrading canal buffers into naturalized waterways featuring lush bioswales, rain gardens, and pedestrian footbridges.
• Continuous Green Buffers: Enforced setback distances along Old Holland Road ensuring deep tree canopy planting that separates residential blocks from vehicle traffic.
• Active Mobility Links: Dedicated cycling paths linking Holland Plain directly to the Holland Village commercial node and Clementi Forest trails.

Phased Land Releases & Price Stabilization: By staggering GLS releases (Parcel 1, Parcel 2, and Holland Link), URA actively controls housing supply to match demand. This controlled release schedule prevents sudden supply spikes, supporting long-term capital stability for early buyers in the enclave.

9. Benchmarking Prime District 10 & 21 Launches

To evaluate the competitive landscape for Holland Plain GLS Parcel 2, we compare the site against three benchmark developments across Districts 10 and 21:

Project Name	District & Tenure	Land Rate (PSF PPR) / PSF Range	Plot Ratio & Structure Type	Key Differences & Market Positioning
Holland Plain GLS Parcel 2	D10 | 99-Yr Leasehold	Est. S$1,450 / Projected S$2,620–S$2,850 psf	1.8 (Low-Rise 6-8 Storeys)	Low-density green enclave near Henry Park Primary. Discounted relative to high-rise mixed-use sites.
Holland Plain GLS Parcel 1 (Sim Lian)	D10 | 99-Yr Leasehold	S$1,491 / Est. S$2,650–S$2,880 psf	1.8 (Low-Rise 6-8 Storeys)	Direct peer project. Establishes baseline pricing benchmarks for the sub-zone.
One Holland Village Residences	D10 | 99-Yr Leasehold	S$1,888 / Transacted S$2,950–S$3,450 psf	4.2 (High-Rise Mixed-Use)	Direct integration with Holland Village MRT and retail precinct. Commands ~15% location premium.
8@BT	D21 | 99-Yr Leasehold	S$1,343 / Transacted S$2,550–S$2,750 psf	3.0 (High-Rise 20 Storeys)	Located in District 21 near Beauty World MRT. Higher density with smaller unit footprints.

CMA Takeaways:

1. The Commercial Integration Premium: One Holland Village Residences commands S$3,000+ psf due to its direct high-density commercial integration. Holland Plain Parcel 2 offers an attractive ~15% price discount, appealing to buyers who prefer quiet residential surroundings over bustling retail centers.
2. The District 10 Value Boundary: Compared to District 21 projects like 8@BT (averaging S$2,600 - S$2,700 psf), Holland Plain Parcel 2 allows buyers to secure a prime District 10 address for a minor price delta of 4% to 6%.

10. Buyer Demographics, Exit Liquidity & Multi-Generational Holding Strategy

Target Buyer Profiles: Demand for Holland Plain GLS Parcel 2 is expected to originate primarily from three key buyer segments:

• Landed Estate Right-Sizers: Wealthy homeowners from Greenleaf, Maryland Drive, and Cypress Avenue looking to downsize into a luxury low-rise condo within their immediate neighborhood.
• Young Families Seeking Primary School Priority: Local parents purchasing 3-bedroom units to secure priority registration at Henry Park Primary School or MGS.
• One-North & Healthcare Executives: Senior executives working at Biopolis, Fusionopolis, and National University Hospital (NUH) seeking short, stress-free commutes.

Holding Horizon & Capital Returns Analysis: Because Holland Plain Parcel 2 is a 99-year leasehold site located within a predominantly freehold landed zone, buyers must plan their exit strategies carefully:

• 5-Year Holding Horizon (Post-TOP Exit): Capital gains during this early window will be driven by the completion of adjacent sub-zone infrastructure and future land price appreciation across subsequent GLS releases. Projected annualized growth rate: 3.0% to 4.2%.
• 10-Year+ Holding Horizon: As leasehold decay curves begin to exert minor pressure relative to older freehold boutique developments nearby, investors should target an exit window between Years 6 and 10 post-completion to optimize return on equity (ROE) before lease decay impacts secondary market liquidity.

11. Risk Matrix & Sensitivity Stress-Testing

Risk Identification & Mitigation Matrix: To ensure capital preservation, buyers must evaluate structural downside risks before taking a position at Holland Plain GLS Parcel 2.

Risk Vector	Impact Severity	Analytical Mitigation & Market Reality
Leasehold Resistance in Freehold Enclave	Moderate	Adjacent landed homes are freehold. However, modern upgraders prioritize complete condo facilities, single-level living, and lower overall purchase quantum over tenure length.
Supply Pipeline Absorption Risk	Low-Moderate	URA releases land in controlled phases. The moderate size of Parcel 2 (~275 units) ensures swift absorption by domestic owner-occupiers without market saturation.
60% Foreign ABSD Headwind	Low	District 10 low-rise enclaves are heavily backed by domestic Singaporean citizens and PRs, insulating Parcel 2 from foreign buyer capital flight.
Interest Rate & TDSR Sensitivity	Moderate	All buyers are stress-tested under MAS TDSR guidelines at a 4.0% interest rate, ensuring robust balance sheets across the project's owner-occupier base.