One Holland Village is expected to launch in Jan 2019. Please follow Quick Links in this review to find out more facts and analysis or feel free to register your interest / contact us for latest movement.
Holland precinct, one of Singapore’s most prestigious property areas, has been getting a lot of buzz over the past few years and will continue to do so. As announced by the Urban Redevelopment Authority (URA), a breath of fresh air looks set to rejuvenate main locale Holland Village over the next decade.
Launching in January 2020, two brand new residential projects will inject vibrancy to this renowned bohemian enclave. Both developments come from homegrown developers – One Holland Village Residences (OHV Residences), the residential wing of mixed development One Holland Village, by Far East Organization in Holland Village itself and across the road, Van Holland, a low-density condo by Koh Brothers.
Reasons for considering One Holland Village
1. A household name in real estate, Far East Organization is the largest property developer in Singapore and also one of the largest in Asia.
2. One Holland Village is located at the brand-new Holland Village Extension, right behind the heart of Holland Village in District 10.
3. Comprising of retail, office and residential units, One Holland Village is the only mixed development in Holland Village.
4. One Holland Village offers spectacular views of central Singapore.
5. Holland Village and Holland Village Circle Line (CCL) station, is a simple 3-minute walk away.
Mention “Holland Road” and the things that come to people’s mind will be sky-high property prices for the ultrarich Singaporeans. Indeed, Holland, alongside Tanglin and Bukit Timah, are the main areas forming District 10, the premier property district in Singapore. This is where most top-tier luxury condos and good class bungalows can be found, with prices that can fetch as high as over $10m.
In honour of English architect Hugh Holland, the road leading to Singapore Botanic Gardens was named Holland Road in 1907, which subsequently led to the naming of Holland Village when the Dutch community moved in during the early 1900s, and the future roads thereafter. Prior to that, this area was colloquially known as “behind the flower garden” in Hokkien as it is literally behind the Botanic Garden. Decades later, families of the British army made homes in the mid-20th century due to its proximity to Dempsey Camp and Chip Bee Gardens was established. From then to now, many foreign clubs such as Hollandse Club, Swiss Club and The American Club are still near Holland area, which explains why this area attracts many Caucasians as well.
Today’s Holland Precinct primarily consists of four components: Holland Village in Lorong Mambong/Lorong Liput, Chip Bee Gardens in Jalan Merah Saga/Taman Warna, the Good Class Bungalow Areas (GCBAs) along Holland Road and Holland Drive HDB Estate. Adding to the existing neighbourhoods will be a fifth component, Holland Plain. Announced in 2007 by the Ministry of National Development (MND), Holland Plain will be a future 34ha private residential estate behind King Albert Park yielding about 2,500 homes.
One Holland Village Residences
Located at the future Holland Village Way, OHV Residences is the first land parcel for the highly anticipated Holland Village Extension released under the Government Land Sales (GLS) in November 2017. Spanning 247,215 sq ft, the site for OHV Residences and the commercial section used to form part of the remaining Holland Vista HDB.
A hotly contested land parcel with 15 Concept Proposals from 10 tenderers, this site was successfully awarded to Stirling Land Holdings Pte Ltd, a consortium led by Singapore’s largest developer Far East Organization that includes sister company Sino Group from Hong Kong and Japan’s largest leading homebuilders Sekisui House, at the highest bid of $1.213b. Of the whole OHV development, there will be 296 residential units over 2 tower blocks and 1 low-rise road-facing block.
|Amenities||Approx Dist (OHV)||Approx Dist (VH)|
|Bus stop||Holland Village (Holland Road)||150m||72m|
|Opp Holland Village (Holland Road)||140m||52m|
|Opp Block 21 (Holland Drive)||155m||288m|
|Block 46 (Holland Drive)||378m||450m|
|Holland Village Station Exit A (Holland Avenue)||352m||187m|
|Holland Village Station/Block 12 (Holland Avenue)||441m||301m|
|Buona Vista Bus Terminal||386m||485m|
|Childcare||My First Skool||221m||382m|
|Kinderland||1 station at Buona Vista||1 station at Buona Vista|
|Work||One Holland Village (office)||doorstep||183m|
|one-north||2 stations at one-north||2 stations at one-north|
|Healthcare||Raffles Medical Centre||395m||267m|
|Buona Vista Hill Park||300m||318m|
|Market/hawker||Holland Village Market & Food Centre||258m||172m|
|Holland Drive Market & Food Centre||485m||548m|
|Shopping/dining||One Holland Village (retail)||doorstep||183m|
|Chip Bee Gardens||432m||274m|
|Holland Village Shopping Centre||349m||250m|
|Raffles Holland V||395m||267m|
|The Star Vista||1 station at Buona Vista||1 station at Buona Vista|
|Rochester Mall||1 station at Buona Vista||1 station at Buona Vista|
Both OHV Residences and Van Holland are highly accessible from major transport nodes.
Exiting from Holland Village CCL station, it takes only 3 minutes to walk to either development. Holland Village station may not be an interchange, but it is only a station away from Buona Vista Interchange southbound and two stations to Botanic Gardens Interchange northbound. From Buona Vista, commuters can transfer to the East-West Line (EWL) and continue their journeys to Jurong East, Tuas or Raffles Place; at Botanic Gardens, commuters can transfer to Downtown Line (DTL) towards Bukit Panjang or Stevens, where it will be an interchange station serving Thomson-East Coast Line (TEL) by 2021.
Even though there are no expressways nearby, Holland Road is still a major road that connects to many parts of Singapore.
The Central Business District (CBD) is where the main business activity in Singapore takes place. This is also the place where many major local and multi-national companies (MNCs) made home their headquarters. Travelling along Holland Road, it takes 10 and 15 minutes to reach Orchard and Downtown Core respectively during peak hours.
Just 2 CCL stations or a 5-minute drive, one-north was conceptualised in 2001 as a work-live-play-learn research and business park with 8 distinct precincts including Fusionopolis, Biopolis and Mediapolis, creating over 50,000 jobs in more than 400 companies including Mediacorp, Infinite Studios, Lucasfilm, Walt Disney, Canon and Seagate.
Initiated by the government in 1980, Singapore Science Park has grown to become the premier 65ha research and technology development hub for companies including Thomson Reuters, Avaya, FJ Benjamin and Defence Science & Technology Agency. Although further away than one-north, driving takes only 10 minutes.
For families with children, do note that the nearest schools from both developments are at least over 500m from both developments.
The nearest, Anglo-Chinese School (International) at Jalan Hitam Manis, takes about 10 minutes to walk via Taman Warna
Within 2km, you can find 2 top schools, Henry Park Primary and Nanyang Primary.
Bukit Timah cluster
There are three school areas northwards in the Bukit Timah cluster – Methodist Girls’ School in Blackmore Drive near King Albert Park (DTL) station; Nanyang Girls’ High School, National Junior College and Hwa Chong Institution along Bukit Timah/Dunearn Roads near Tan Kah Kee DTL station; Nanyang Primary and St Margaret’s Secondary near Farrer Road CCL station.
Singapore Polytechnic is 2 stations away at Dover EWL and National University of Singapore is 3 stations away Kent Ridge CCL.
Singapore Botanic Gardens
The first landmark in Singapore, and the world’s only tropical garden to bestow UNESCO World Heritage Site in 2015 for its unique and significance to Singapore’s history, this 82ha garden recently opened part of its 8ha Gallop Extension featuring a ridge-top hiking trail and a canopy link offering sweeping views of the Gardens.
Stretching 24km from the former Tanjong Pagar Railway Station to Woodlands is the Rail Corridor, a “green corridor” taking over the former Malayan Railway track. Under the URA Draft Master Plan 2019, the Buona Vista section between Holland Road and Commonwealth Avenue will be integrated with the future business park and Art Space underneath Commonwealth Ave West for sports, community and cultural events. Walking takes 5 minutes from OHV Residences and 10 minutes from Van Holland to the Rail Corridor.
Buona Vista Hill Park
Located within the grounds of Holland Vista HDB is Buona Vista Hill Park, a new park that will be constructed in tandem with the completion of OHV, to facilitate pedestrian flow from the surrounding public housing to Holland Village.
Besides the retail option that OHV offers, residents from both projects also get to choose from other lifestyle destinations near and within Holland area.
A hard-to-miss location at one corner of Holland Road and Holland Avenue junction, Holland Village has evolved over the years into an eclectic mix of shophouses and low-rise buildings, a popular bohemian hangout with retail, dining and watering holes experiences for locals and tourists alike.
Located within walking distance from Buona Vista Interchange is Rochester Park, a trendy and laid-back lifestyle establishment of 11 conserved colonial bungalows complementing the nearby one-north. Tenants in these bungalows include Chinese fine-diner Min Jiang @ one-north, Mediterranean restaurant Da Paolo BistroBar and no-frills Beerfest Restaurant.
Two malls, Rochester Mall and The Star Vista, are also nearby. Notably is The Star Vista where it shares the same building with The Star Performing Arts Centre. Equipped with state-of-the-art technology for its 5,000-seater The Star Theatre, this performance venue has played host to top-notch shows ranging from concerts and musical to stand-up comedy.
Dempsey Hill/Tanglin Village
Due for a makeover in 2020, the Dempsey cluster has a mix of retail stores and dining outlets, including many antique and carpet shops. There is also COMO Dempsey, an all-round new concept of food and fashion under one roof, with tenants such as Dover Street Market Singapore and Candlenut, the world’s first Michelin-starred Peranakan restaurant.
As mentioned, Orchard takes 10 minutes driving from both developments.
Apart from global shopping belt that everyone knows, plans are in the works to refresh Orchard Road under the URA Draft Master Plan 2019. Orchard Road will be transformed into lifestyle destination for friends and families, and more walkable with urban green corridor, mimicking its original identity as a plantation orchard.
Residents looking forward to heartland local treats can explore Holland Village Market & Food Centre, and Holland Drive Market & Food Centre. From either project, residents need to walk 5 minutes to the former and 10 minutes to the latter.
Given Holland Village’s Identity Node status, strict requirements are enforced with regards to the future development of this 99-year land parcel, so that the vision of Holland Village Extension as a continuity to the success and buzz of the existing neighbourhood holds. With that in mind, a two-envelope Concept and Price tender was called by the URA in November 2017.
This 247,215 sq ft is divided exclusively into Zone 1 for residential use and Zone 2 for mixed use. Zone 2 is specifically single stratum so that the developer has full control of the tenant mix for this project.
Its retail portion is a shophouse street block, reinterpreted as a basic module building block for the whole development laid out according to and complementing the existing Holland Village shophouses.
The public spaces also form a series of unique street experiences with each zone anchored by a main public space: “Commons Square” for holding events such as weekend markets and outdoor performances, “Communal Green” flanked by shops leading to a Water Court and a terraced water feature, and “Pocket Park” which provides green relaxation spaces opening into Lorong Mambong.
|Project Details||One Holland Village|
|Location||1, 3 & 5 Holland Village Way|
|Developer||Far East Organization, Sino Group and Sekisui House|
|Site Area||27,119.3 sqm / 291,912 sq ft|
|No. of Blocks/Storeys||3 blocks|
|Total No. of Units296||Units|
|No. of Car Park Lots|
|Tenure||99 years from Aug 2018|
|Payment Scheme||Normal Progressive|
|Site Use||Mix use development|
One Holland Village Price, Unit Types, Sizes
|TOWER||BEDROOM TYPE||No. OF UNITS||SIZE||PRICE|
|Sereen||1 Bedroom||62||484 sq ft||$1.2M|
|2 Bedroom||124||689 - 829 sq ft||$1.8M|
|3 Bedroom||62||1,098 sq ft||$2.6M|
|Quincy||3 Bedroom||14||1,238/1,281 sq ft||$4M|
|3 Bedroom + Study||3||1,615 sq ft||$5.2M|
|4 Bedroom||7||2,088 sq ft||$6.9M|
|4 Bedroom + Study (Duplex)||2||1,098 sq ft||TBC|
|Leven||2 Bedroom||21||807/936/1,087 sq ft||$2.4M|
*Disclaimer: All information is subject to change at developer's discretion.
One Holland Village Price Comparison
There are limited condo supplies near Holland Village, mostly are small scale apartments. One Holland Village will become the new focal point in the area once it's completed.
Resale 2 bedroom price ranges from $1.9M-$2.6M, hence One Holland Village price is in-line with the market. Although One Holland Village psf looks at the high side compared to resale market, $2,600psf can be justified with 15% premium for brand new (others are 10-15 years older) plus another 15% premium for mixed development status.
Rental estimate could reach around $6 psf benchmarking againt the resale condos' existing rental records. ($4.8psf)
- Refer my article on how to estimate new launch rental.
Some thoughts on One Holland Village
1. With the bid price of over $1b, prices for OHV Residences may set a record-high for new launches over the past 12 months, more so due to its prestigious Holland Village/District 10 location. However, buyers/investors will enjoy first-mover advantage before the rest of Holland Village Extension gets fully developed.
2. Holland Village is a lively and touristy neighbourhood. On weekends, human traffic can remain right through the night as restaurants and pubs open till late. This may not sit well with residents looking for some quiet ambience.
3. I do feel that Gym for One Holland Village is rather small for such scale development.
4. People who are looking for ultimate convenience will definitely be attracted by One Holland Village, as a mixed development, you get all your needs fulfilled under one roof. While people who are looking for freehold, can consider Van Holland as alternatives or other resale options nearby. However, you need to accept smaller land with limited facilities.
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