The Government Land Sale (GLS) tender for the Upper Thomson Road (Parcel A) site has drawn a robust response from developers, with Wee Hur Holdings and its controlling shareholder GSC Holdings emerging as the highest bidder at S$613.9 million. This works out to S$1,062 per square foot per plot ratio (psf ppr).
The strong showing follows the stellar performance of the next-door Springleaf Residence, where almost all units were sold during its launch weekend in August.
Urban Redevelopment Authority (URA) has awarded the tender for the site on 31 October 2025.
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Upper Thomson (Parcel A) GLS tender result
Concluding on 23 October 2025, the tender for the 99-year leasehold parcel drew five bids — a significant turnaround from its previous launch, which closed without any offers in December 2023. The revived enthusiasm likely stems from the removal of the long-stay serviced apartment (SA2) requirement, which previously made the site less appealing due to its untested model and operational challenges.
| Ranking | Tenderer | Bid Price | Land Rate (psf ppr) |
|---|---|---|---|
| 1 | Wee Hur Property Pte Ltd and GSC Holdings Pte Ltd | S$613,939,000 | S$1,062 |
| 2 | Frasers Property Phoenix Pte. Ltd. and SB (Westpoint) Investment Pte. Ltd. | S$601,500,000 | S$1,040 |
| 3 | GuocoLand (Singapore) Pte. Ltd., Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd. | S$546,512,967 | S$945 |
| 4 | Kingsford Huray Development Pte Ltd | S$543,650,000 | S$940 |
| 5 | Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd | S$540,000,000 | S$934 |
Wee Hur’s highest bid of S$1,062 psf ppr edged out the second-highest offer from Frasers Property and Soilbuild Group, which came in at S$601.5 million (S$1,040 psf ppr) — a narrow 2% gap.
Meanwhile, GuocoLand and Hong Leong Holdings, developers of the adjacent Springleaf Residence, placed third with S$546.6 million (S$945 psf ppr). Kingsford Group and Sim Lian Group rounded out the list with bids of S$940 psf ppr and S$934 psf ppr, respectively.
What makes the Upper Thomson site attractive?
Upper Thomson Road (Parcel A) is one of the largest residential sites on the 1H2025 Confirmed List. Spanning about 2.44 hectares, it is zoned for mixed-use development, potentially housing around 595 private homes and 2,000 square metres of commercial space.
A major draw is its doorstep access to Springleaf MRT station on the Thomson-East Coast Line (TEL), providing future residents with direct connections to key destinations like Woodlands, Caldecott, and Marina Bay. Drivers also benefit from quick access to the Seletar Expressway (SLE), linking easily to the Central Expressway (CTE) and Tampines Expressway (TPE).
Nestled within the lush Springleaf precinct, the site offers a unique blend of connectivity and tranquillity. The surrounding greenery and landed homes create a peaceful environment, with Springleaf Nature Park, Upper Peirce Reservoir, and the Central Catchment Nature Reserve nearby — an increasingly rare balance of urban convenience and nature in today’s property landscape.
Strong take-up at the next-door Springleaf Residence
A key reason behind the strong bidding interest is the success of Springleaf Residence. Launched in August 2025 by GuocoLand and Hong Leong, the 941-unit project saw 870 units (92%) sold during its launch weekend at an average price of S$2,175 psf. With most units snapped up, developers likely viewed the adjacent Parcel A site as a natural follow-up opportunity with limited competing supply in the immediate area.
At S$1,062 psf ppr, Wee Hur’s top bid is about 17% higher than the land rate of S$905 psf ppr paid for the Springleaf Residence site. This increase suggests growing confidence in the Springleaf precinct’s potential, especially as more homebuyers seek homes near MRT stations in tranquil, low-density areas.
The tender’s strong response also reflects a broader recovery in developer sentiment, following encouraging performances from recent new launches near MRT stations, including Parktown Residence, Lentor Central Residences, Springleaf Residence, and Penrith.
What to expect from the upcoming Upper Thomson condo
The upcoming project on Upper Thomson Road (Parcel A) is expected to feature around 595 private homes, likely spread across multiple residential blocks with retail and childcare facilities integrated at the ground level. These additions will foster a vibrant and self-sufficient community, enhancing daily convenience for future residents along Upper Thomson Road.
The new Upper Thomson launch is expected to enter the market around 2027, placing it in a different cycle from the nearby Thomson Reserve, which is slated for a 2026 debut. Each project will likely take on a distinct positioning, with Thomson Reserve shaping up as a large-scale development in a more vibrant part of the neighbourhood.
Reflecting on the tender outcome, Wong Siew Ying, Head of Research and Content at PropNex, anticipates that the eventual launch price of the new Upper Thomson condo could exceed S$2,250 psf, aligning with other Outside Central Region (OCR) projects located near MRT stations. Meanwhile, Leonard Tay of Knight Frank Singapore expects the pricing to start from about S$2,300 psf, with the average likely surpassing S$2,400 psf.
As the northern corridor of Singapore continues to transform — with new developments taking shape in Lentor, Mandai, and Woodlands Regional Centre — the Upper Thomson site is well-positioned to benefit from sustained growth in transport connectivity and lifestyle infrastructure along the Thomson-East Coast Line.
Stay updated with the latest news and insights on Singapore’s new launch market here.
About Ananda Bayu
Ananda has been wrangling Singapore's complex real estate trends into readable bites since 2020. She writes like she's explaining it to a friend over kopi — because who has time for jargon? When off the clock, she’s probably doom-scrolling through cat memes on X, convincing herself it's the highest tier of "creative inspiration".
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