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URA launched two parcels of land in one-north for sale today. There is demand for homes in one-north precinct which is unsatisfied. For example, One-North Eden sold more than 80% of its units on launch day and it is almost 90% sold as of end-May 2021. The bunching of two sites in the same area for sale is probably to temper land bids by developers. As both plots of land are not next to each other, it will prevent the situation of one developer securing both plots and achieving economies of scale and monopoly in the area.
Parcel A is deemed more attractive relative to Parcel B because of the regular plot size and it is nearer to Buona Vista MRT interchange. Besides the appeal of one-north precinct, the land parcels are very close to the future One Holland Village.
The last land bid at one-north Gateway attracted 9 bids and a top bid of $1,001 psf ppr. Due to the palatable size, around 10 developers might bid for each site and the top bid for both parcels could be in the range of $1,200 and $1,300 psf ppr.
