Dairy Farm Walk (21,881.8 sqm parcel)
AwardedResidential. URA sale site, built as Narra Residences.
S$504,515,000
S$10,979.41 psm GFA, about S$1,020 psf ppr (derived). Awarded 21 January 2025 to SNC2 Realty Pte. Ltd., parent: SingHaiyi Group Ltd., Apex Asia Alpha Investment Two Pte. Ltd., parent: Apex Asia Development Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., parent: Kay Lim Holdings Pte. Ltd.
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Dairy Farm Walk (21,881.8 sqm parcel) | Residential | 21,881.1 m² | 45,951 m² | SNC2 Realty Pte. Ltd., parent: SingHaiyi Group Ltd., Apex Asia Alpha Investment Two Pte. Ltd., parent: Apex Asia Development Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., parent: Kay Lim Holdings Pte. Ltd. | S$504,515,000(S$10,979.41) |
As listed at the close of 14 January 2025 (ura-pr25-02), with the outcome the award of 21 January 2025 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | SNC2 Realty Pte. Ltd., parent: SingHaiyi Group Ltd., Apex Asia Alpha Investment Two Pte. Ltd., parent: Apex Asia Development Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., parent: Kay Lim Holdings Pte. Ltd. | S$504,515,000 | S$10,979.41 | S$1,020 | Awarded |
| 2 | Sim Lian Land Pte Ltd, parent: Sim Lian Group Limited and Sim Lian Development Pte Ltd, parent: Sim Lian Group Limited | S$410,000,000 | S$8,922.55 | S$829 | Unsuccessful |
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
21 January 2025
AwardedTender award for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
Awarded to
SNC2 Realty Pte. Ltd., parent: SingHaiyi Group Ltd., Apex Asia Alpha Investment Two Pte. Ltd., parent: Apex Asia Development Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., parent: Kay Lim Holdings Pte. Ltd., S$504,515,000 (S$10,979.41 psm GFA, about S$1,020 psf ppr).
Read the press releaseHide the press releaseura-pr25-04
1. The Urban Redevelopment Authority (URA) has awarded the tender for the site at Dairy Farm Walk to SNC2 Realty Pte. Ltd., Apex Asia Alpha Investment Two Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., and the tender for the site at Tengah Garden Avenue to Intrepid Investments Pte. Ltd., CSC Land Group (Singapore) Pte. Ltd. and GuocoLand (Singapore) Pte. Ltd.
2. The tenders for these sites were launched on 13 June 2024, and closed on 14 January 2025. The sites were offered for sale on 99-year lease terms.
3. Details of the awarded sites and the successful tenderers are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Dairy Farm Walk | Residential | 21,881.1 m² | 45,951 m² | SNC2 Realty Pte. Ltd., Apex Asia Alpha Investment Two Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd. | $504,515,000.00 ($10,979.41) |
| Tengah Garden Avenue | Residential with Commercial at 1st Storey | 25,458.4 m² | 76,376 m² | Intrepid Investments Pte. Ltd., CSC Land Group (Singapore) Pte. Ltd. and GuocoLand (Singapore) Pte. Ltd. | $675,000,000.00 ($8,837.85) |
14 January 2025
Tender closedTender closing for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
2 bids disclosed
Highest S$504,515,000 (S$10,979.41 psm GFA) from SNC2 Realty Pte. Ltd., parent: SingHaiyi Group Ltd., Apex Asia Alpha Investment Two Pte. Ltd., parent: Apex Asia Development Pte. Ltd., Soon Li Heng Civil Engineering Pte Ltd and Kay Lim Realty Pte. Ltd., parent: Kay Lim Holdings Pte. Ltd.
Read the press releaseHide the press releaseura-pr25-02
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
1. The Urban Redevelopment Authority (URA) closed the tender for the two sites at Dairy Farm Walk and Tengah Garden Avenue today.
2. The sites at Dairy Farm Walk and Tengah Garden Avenue were launched for public tender on 13 June 2024.
3. Please see Annex Aand Bfor details of the sites and tender bids received.
4. This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
13 June 2024
Launched for tender, Confirmed ListURA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road
Read the press releaseHide the press releaseura-pr24-28
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
1. The Urban Redevelopment Authority (URA) has released three residential1 sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road for sale today under the first half 2024 (1H2024) Government Land Sales (GLS) Programme.
2. The sites at Dairy Farm Walk and Tengah Garden Avenue are launched for sale under the Confirmed List and can potentially yield 540 and 860 residential units respectively. These form part of the 5,450 residential units to be made available via the Confirmed List of the 1H2024 GLS programme. The site at Bayshore Road is available for application under the Reserve List and can potentially yield 515 units. Together, these three sites can provide a potential supply of 1,915 residential units.
3. To cater to demand, the Government has increased the Confirmed List supply of private housing in the GLS programme to 5,450 units in 1H2024, from 4,090 units in 1H2023 and 5,160 units in 2H2023. This is the highest supply on the Confirmed List in a single GLS Programme since the 2H2013 GLS Programme.
4. Details on the three land parcels can be found in Annex 1._
Other Details 5. The tenders for the Dairy Farm Walk and Tengah Garden Avenue sites will close at 12 noon on 14 January 2025. More details on the three land parcels are available on the URA website.
1 The sites at Dairy Farm Walk and Bayshore Road are zoned Residential, while the site at Tengah Garden Avenue is zoned Residential with Commercial at 1st Storey (see Annex 1 )
Site facts
- Selling authority
- URA
- Allowable development
- Residential
- Tenure
- 99 years
- Programme list
- Confirmed List, tender closed[ura-pr25-02/pr25-02a.pdf]
- Site area
- 21,881.1 sqm[ura-pr25-02/pr25-02a.pdf]
- Maximum GFA
- 45,951 sqm[ura-pr25-02/pr25-02a.pdf]
- Estimated housing units
- 540[ura-pr25-02/pr25-02a.pdf]
- Height control
- Low-rise 4-6 storeys; medium-rise 75-85m SHD[ura-pr25-02/pr25-02a.pdf]
- Facts as stated on
- 14 January 20252 versions on record: 13 June 2024, 14 January 2025. Each is kept; the one in force on the reading date is shown.
The market when bids closed
When bids closed on 14 January 2025, URA's latest quarterly figures were for 3Q2024, published 25 October 2024, 81 days earlier. The 4Q2024 figures followed ten days after the close. The table carries on through four releases after it.
| Private residential | 1Q2024Apr 2024 | 2Q2024Jul 2024 | On the day3Q2024Oct 2024 | 4Q2024Jan 2025 | 1Q2025Apr 2025 | 2Q2025Jul 2025 | 3Q2025Oct 2025 | Trend | Change3Q2024 to 3Q2025 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 204.3 | 206.1 | 204.7 | 209.4 | 211.1 | 213.2 | 215.1 | +5.1% | |
| Non-landed, core central region | 153.1 | 152.6 | 150.9 | 154.8 | 156.0 | 160.7 | 163.4 | +8.3% | |
| Private rental index | 157.9 | 156.6 | 157.9 | 157.9 | 158.5 | 159.8 | 161.7 | +2.4% | |
| Sales | |||||||||
| New homes sold by developers | 1,164 | 725 | 1,160 | 3,420 | 3,375 | 1,212 | 3,288 | +183.4% | |
| Resales | 2,689 | 3,802 | 3,860 | 3,702 | 3,565 | 3,647 | 3,881 | +0.5% | |
| Sub-sales | 377 | 388 | 352 | 311 | 321 | 269 | 235 | −33.2% | |
| Units launched | 1,304 | 634 | 1,284 | 3,425 | 3,139 | 1,520 | 4,191 | +226.4% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 19,936 | 19,940 | 19,405 | 18,125 | 18,498 | 17,029 | −14.6% | ||
| Pipeline with planning approval | 38,167 | 37,768 | 35,475 | 35,305 | 35,364 | 36,663 | 36,814 | +3.8% | |
| Vacancy rate | 6.8% | 6.1% | held | 6.6% | 6.5% | held | held | n/a | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 13 June 2024
URA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 6fdc4803292fc1e2506c66b9df73fe53fdb0659d598f99bd0a58f9e95d920cd4
- Size
- 439,273 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 15:39:37 UTC
- Prevo reference
- ura-pr24-28
- AnnexPublished 13 June 2024
Annex 1 to URA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore RoadVersion v1
Version v1 of the annex as linked from the release page; the authoritative version. Earlier versions were not supplied and are not in the capture, so supersedes_doc_key is null.
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 02085160c067db2fde1361cf3d9df6e8b678c754911cdc7801cd347da9570f21
- Size
- 73,440 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 15:39:37 UTC
- Source version
- v1
- Prevo reference
- ura-pr24-28/pr24-28a_v1.pdf
- Press releasePublished 14 January 2025
Tender closing for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 37e3cacfedcd029d52c8d3162ee6d309422a3ebacab818f5da5e644f0ca0c8f1
- Size
- 428,332 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 16:56:50 UTC
- Prevo reference
- ura-pr25-02
- AnnexPublished 14 January 2025
Annex A to Tender closing for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- ba0e424a2db671d71c96912af5f80f3b0f51d706eaf7c555abdb2f6773509e73
- Size
- 6,413 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 16:56:50 UTC
- Prevo reference
- ura-pr25-02/pr25-02a.pdf
- AnnexPublished 14 January 2025
Annex B to Tender closing for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- ad6812c7aae9775e0bf67658b5fd82ecd5acb20d49bed03d5ea6c23e34e3e92d
- Size
- 6,626 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 16:56:50 UTC
- Prevo reference
- ura-pr25-02/pr25-02b.pdf
- Press releasePublished 21 January 2025
Tender award for URA sale sites at Dairy Farm Walk and Tengah Garden Avenue
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- d97cbb7fbca8d9f27aac8df99cb4af807305e793b83e1cd8d58280bf96e71154
- Size
- 457,236 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 16:56:51 UTC
- Prevo reference
- ura-pr25-04