Dairy Farm Walk GLS buyer analysis
Dairy Farm Walk GLS: Low-Density Site, New-vs-Resale Pricing & Buyer Analysis
Quick Answer
This Dairy Farm Walk GLS site is the 99-year parcel awarded in January 2026 to ABR Holdings, LWH Holdings, Macly Capital and RP Ventures for S$427.0 million. URA records a site area of 29,444.2 sqm, maximum GFA of 41,222 sqm and an estimated yield of about 480 homes. The winning land rate works out to about S$962 psf per plot ratio.
The project should not be confused with the earlier Dairy Farm Walk sites that became The Botany at Dairy Farm and Narra Residences. This latest parcel has a lower plot ratio of about 1.4 and is expected to produce a lower-rise, lower-density development than the neighbouring high-rise GLS sites.
Official site facts
- Location: Dairy Farm Walk, District 23
- Tenure: 99 years
- Allowable development: Residential
- Site area: 29,444.2 sqm
- Maximum permissible GFA: 41,222 sqm
- Estimated yield: about 480 homes
- Approximate plot ratio: 1.4
- Successful tenderers: ABR Holdings Limited, LWH Holdings Pte. Ltd., Macly Capital Pte Ltd and RP Ventures Pte Ltd
Primary source: URA tender award — Dairy Farm Walk.
Land price and tender competition
The winning bid was S$427,000,268, or about S$962 psf ppr. Five bids were submitted. The second-highest bid was S$425.425 million, or about S$959 psf ppr, leaving a gap of only around 0.4% between the top two bids.
That narrow spread suggests the leading bidders had very similar views on the site's land value. The winning rate was lower than the land rates paid for the two earlier Dairy Farm Walk GLS sites, despite the location's established private-housing character.
Primary tender source: URA tender bid schedule.
Three Dairy Farm Walk GLS sites — do not mix them up
The Botany at Dairy Farm siteAwarded 2022Land rate about S$980 psf pprNow completed / completing as The Botany
Narra Residences siteAwarded Jan 2025Land rate about S$1,020 psf pprHigher-density project of about 540 homes
Current Dairy Farm Walk GLSAwarded Jan 2026Land rate about S$962 psf pprLower-density site of about 480 homes
This distinction matters for SEO and for buyers. Search results often use the same street name for multiple generations of land sales. This page refers specifically to the January 2026-awarded parcel.
What does the S$962 psf ppr land rate mean for launch pricing?
The land rate is not the developer's breakeven and does not directly determine the selling price. Construction, financing, professional fees, statutory costs, marketing, contingencies and saleable-area efficiency all matter.
CBRE's January 2026 tender analysis estimated that the developer could look to launch at an average of around S$2,200 to S$2,300 psf, taking into account the land rate and nearby new-launch performance. This is external market analysis, not developer-confirmed pricing.
Market-analysis reference: CBRE Dairy Farm Walk tender commentary.
Launch-price scenarios
Until an official price list is released, a range is more useful than one exact launch-price prediction.
Lower scenarioaround S$2,150 psfWould compete closely with current newer Dairy Farm projects on value.
Middle scenarioaround S$2,250 psfSits near the middle of CBRE's earlier land-cost-based launch estimate.
Higher scenarioaround S$2,350 psfNeeds stronger support from layout quality, privacy, nature-facing stacks and launch demand.
Data status: these are Sean See analytical scenarios only. They are not developer prices, a valuation or a guarantee of future value.
New-launch comparison: Narra Residences and The Botany
Narra Residences and The Botany at Dairy Farm are the most important new/newer benchmarks because they sit within the same micro-market. Current URA-based market trackers place recent transactions for both projects around the low-S$2,000s psf, with Narra and The Botany generally above older Dairy Farm resale projects.
The new 2026-awarded site should be compared not only on psf but on density, building height, exact views, unit efficiency and total quantum. Its lower plot ratio may support a more private feel, but lower density does not automatically mean better value if the launch premium is too large.
Resale comparison: Dairy Farm Residences and older condos
Dairy Farm Residences provides a newer completed comparison with retail convenience at Dairy Farm Mall. Foresque Residences, The Skywoods, Eco Sanctuary and the older freehold The Dairy Farm provide additional resale anchors.
Current URA-based comparisons show a clear pricing gap between newer launches and older resale stock. Buyers should quantify that gap using matched bedroom types and floor areas instead of assuming that a newer project automatically deserves any premium.
Indicative new-vs-resale price gap
Recent URA-based market data cited by EdgeProp show newer Dairy Farm projects such as The Botany and Narra in roughly the S$2,100–S$2,200 psf range, while Dairy Farm Residences has been around the high-S$1,700s psf and several older 99-year projects around the mid-S$1,500s to high-S$1,600s psf.
This means a buyer considering a future launch around S$2,200–S$2,300 psf could be paying a substantial premium to older resale. The decision should therefore focus on whether the buyer values new condition, lower-density design, progressive payment and nature-facing potential enough to justify that premium.
Transaction reference: EdgeProp / URA nearby transaction comparison.
Low-density character and nature
ERA notes that this parcel has a lower GPR of 1.4 and building heights limited broadly to four to six storeys, unlike the neighbouring higher-density sites. Combined with the large site area, this can create a more low-rise and private residential character.
The Dairy Farm enclave is also close to major green spaces including Bukit Timah Nature Reserve and the Dairy Farm / Chestnut nature areas. Nature proximity is a genuine lifestyle advantage, although individual stacks still need to be checked for road, building and vegetation exposure once plans are released.
Transport and Hillview MRT
The nearest MRT is Hillview MRT on the Downtown Line. ERA estimates the site at about 1km or roughly an 18-minute walk from the station.
That is an important trade-off: buyers gain a quieter, lower-density environment but do not get an MRT-doorstep project. The BKE, PIE and Upper Bukit Timah Road support road connectivity, while bus routes will matter for daily public-transport use.
Schools and everyday amenities
ERA's site study identifies Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace within 1km based on its mapping at the time of analysis. Families should verify the final residential block address against the prevailing MOE/OneMap rules before relying on Primary 1 distance eligibility.
Everyday amenities are more limited than in a major town centre. Dairy Farm Mall is the nearest established retail node, while HillV2, The Rail Mall and Bukit Panjang provide broader dining and shopping options further away.
Who is the location really for?
The site is more naturally suited to buyers who prioritise greenery, privacy and a quieter residential setting over immediate MRT or large-mall convenience.
For households that commute daily by train or want retail directly downstairs, Dairy Farm Residences, Hillview-area projects or Bukit Panjang MRT-adjacent homes may provide a more convenient lifestyle even if they offer a different residential character.
Strengths
- Rare low-density 1.4 plot-ratio GLS site in the Dairy Farm enclave.
- Large land parcel with potential for a more spacious low-rise environment.
- Close proximity to greenery and nature reserves.
- Lower land rate than the two preceding Dairy Farm Walk GLS sites.
- Five-bid tender with an extremely narrow gap between the top two offers.
Risks and things to watch
- Official project name, unit mix, launch date, selling prices and floor plans are still unreleased.
- Hillview MRT is around 1km away, so this is not a rail-doorstep project.
- The immediate amenity base is smaller than mature town-centre locations.
- Narra Residences and The Botany create direct new-home competition in the same micro-market.
- A launch price above nearby newer transactions would need clear justification from product quality and exact stack selection.
Who might Dairy Farm Walk GLS suit?
It may suit buyers who value privacy, greenery, lower-rise living and a quieter western residential enclave, and who are comfortable being farther from an MRT station.
Compare alternatives first if your priority is MRT convenience, integrated retail or lower entry cost. Narra Residences, The Botany at Dairy Farm, Dairy Farm Residences, Foresque Residences and Hillview-area resale projects should be compared with the eventual price list.
Floor-plan / stack analysis: TBC until official plans are released. No facing, stack, nature-view or layout conclusion should be treated as confirmed before approved developer material is available.
Analysis updated: 28 September 2026.
