Knight Frank Commentary | Tender Closing for Miltonia Close Executive Condominium GLS Site

Knight Frank Commentary | Tender Closing for Miltonia Close Executive Condominium GLS Site 

Although the land rate of the top bid for the GLS tender of the Miltonia Close executive condominium (EC) site at S$340.1 million or S$732 psf per-plot-ratio (ppr) came in within expectations, it was towards the higher end of the range. The top bid was 9.2% higher than the second bid of S$670 psf ppr and 11.6% more than the third bid of S$656 psf ppr, with three bids in all.

While the top bid of S$732 psf ppr is the highest for all EC plots in Yishun Planning Area to-date, it is about 7.8% less than the S$794 psf ppr that was submitted for the Woodlands Drive 17 plot that was awarded in January 2026. Should the Miltonia Close site be awarded, this could translate to a possible launch price of just above S$1,600 psf with an overall average price of around S$1,700 psf.

An EC development at Miltonia Close is adjacent to Orchid Country Club, offering unblocked views of the Lower Seletar Reservoir and a quiet, low-density environment, attributes that would appeal to homebuyers seeking liveability and greenery at arm’s length from the maddening crowd. However, the site’s distance of over 1.5 km from Khatib MRT station can be a drawback. The trade-off between environmental quality and mass transport accessibility would be a key consideration for buyers. The project is expected to draw primarily from those residing in Yishun and the wider northern corridor. This would include HDB upgraders whose flats reached Minimum Occupation Period (MOP) between 2020 and 2027, as well as first-time buyers setting up families.