Dairy Farm Walk Went for $962 psf ppr — the Cheapest Land of the Year

28 January 2026Blog District 23 OCR

The Dairy Farm Walk land sale site, outlined in red beside the Bukit Timah Expressway

On 28 January the Urban Redevelopment Authority awarded the Dairy Farm Walk site to a four-party consortium — ABR Holdings, LWH Holdings, Macly Capital and RP Ventures — for $427,000,268 — $962 per square foot per plot ratio.

That is the lowest land rate among the residential sites awarded around it, and it is low by a wide margin.

What URA awarded


Site area	29,444.2 m² (316,932 sqft)
Maximum gross floor area	41,222 m² (443,710 sqft)
Allowable development	Residential
Tenure	99 years
Tendered price	$427,000,268 — $962 per square foot per plot ratio
Date of award	28 January 2026
URA expected completion	2031

Source: Urban Redevelopment Authority, January 2026.

Why the land is so much cheaper here

Two things, and neither is a problem with the site.

It is a big plot with a low plot ratio. 29,444 m² of land carries only 41,222 m² of floor area — a ratio of about 1.4, where an urban site runs at 3.5 or higher. You are buying a lot of ground and building relatively little on it, which is what a low-rise, low-density estate at the edge of the nature reserve looks like.

It is District 23, at the top of the island. Dairy Farm sits against Bukit Timah Nature Reserve and Dairy Farm Nature Park, with Hillview MRT on the Downtown Line. It is a genuinely green address, and land there has never been priced like town.

Site	District	psf ppr
Lentor Central	D26	$1,278
Upper Thomson Road Parcel A	D20	$1,062
Dairy Farm Walk	D23	$962

Awarded land rates from the URA media releases for each site.

What I would take from this

If you are buying in the Hillview and Dairy Farm belt, the land under this one cost less per foot than anything else awarded recently. Land cost is not price, but it is the floor under price, and this floor is unusually low.

If you own here, the low rate reflects the plot ratio and the location, not weak demand — four separate companies pooled capital to take it.

If you want green surroundings without paying a prime rate, this is the site to watch. No launch date and no developer price have been published, and this post does not estimate either.

Common questions

Who won the Dairy Farm Walk site?

A consortium of ABR Holdings Limited, LWH Holdings Pte. Ltd., Macly Capital Pte Ltd and RP Ventures Pte Ltd, at $427,000,268 — about $962 per square foot per plot ratio, awarded 28 January 2026.

Why is the land rate so low?

The site has a low plot ratio — 29,444 square metres of land carries only 41,222 square metres of gross floor area, about 1.4 — and it sits in District 23 beside Bukit Timah Nature Reserve, where land has never been priced like the city.