Dover Drive: $951 Million, and a New One-North Benchmark

31 March 2026Blog District 5 RCR

The Dover Drive land sale site, outlined in red between the Ayer Rajah Expressway and one-north

On 31 March the Urban Redevelopment Authority awarded the Dover Drive site to CNQC Realty (Prime), Forsea Residence and Jianan Realty Investments (1) — the Qingjian-linked consortium — for $951,000,999.

That is $1,556 per square foot per plot ratio, a new benchmark for the one-north area. The odd nine-nine-nine ending is not a typo: it is a developer buying a $951 million site and still deciding the last thousand dollars might matter.

What URA awarded


Site area	13,517.2 m² (1.35 hectares)
Maximum gross floor area	56,773 m² (611,099 sqft)
Allowable development	Residential with commercial on the first storey
Tenure	99 years
Tendered price	$951,000,999 — $1,556 per square foot per plot ratio
URA expected completion	2031

Source: Urban Redevelopment Authority, 31 March 2026.

Six bids, where three used to be enough

Earlier one-north tenders drew three bids each. This one drew six. That is the number worth remembering: not the record rate, but the fact that twice as many developers wanted to be here as the last time the government sold land in this pocket.

What is being built

About 625 homes, plus roughly 3,550 m² of commercial space — of which 550 m² is set aside for childcare. Homes above shops above a childcare centre, next to the research campuses that employ the people expected to live in them.

Why one-north pays

One-north is not a housing estate that happens to have offices. It is a research and media district — biopolis, fusionopolis, the universities and the Science Park — that has spent twenty years accumulating jobs and almost none of the homes to match. Every private project here sells into a tenant pool that works within walking distance.

Our own records show the pattern: The Hill @ One-North and LyndenWoods in the Science Park have both sold out.

What I would take from this

If you are buying in the west, this site sets the floor for what launches next. Land at $1,556 psf ppr does not produce entry-level pricing.

If you own around one-north, six bidders competing at a record rate is the clearest possible statement about where developers think this pocket is heading.

If you are renting out here, 625 new homes arriving around 2031 is a real change to a market that has been chronically short of stock.

Common questions

Who won the Dover Drive site?

CNQC Realty (Prime), Forsea Residence and Jianan Realty Investments (1), at $951,000,999 — $1,556 per square foot per plot ratio. It was the highest of six bids.

Why does the price matter?

It is a new benchmark land rate for the one-north area, set in a tender that drew six bidders where earlier one-north tenders drew three.

What will be built there?

About 625 homes and roughly 3,550 square metres of commercial space including a 550 square metre childcare facility, on a 1.35-hectare site with a 99-year lease. URA expects completion in 2031.