The Woodleigh Residences

The ground under it was tendered in 2017. Both ends of that are public; nobody puts them together.

The land under The Woodleigh Residences

HDB put this parcel out to tender and names The Woodleigh Residences as what was built on it. Everything below is from that tender: the dates, the winning price, and the 12 bids that came in.

  1. Tender launched6 Mar 2017
  2. Tender closed13 Jun 201712 bids received
  3. Awarded21 Jun 2017Elara 1 Pte. Ltd. And Callisto 1 Pte. Ltd.
  4. Winning tenderS$1,132,000,000S$12,713 per sq m of gross floor area · S$1,181 per sq ft
Parcel
Bidadari P1 Upper Serangoon Road
Site area
25,441 sq m
Lease
99 yrs
Plot ratio
3.5
Gross floor area
89,043 sq m
Sold as
Mixed
Every bid — all 12, as HDB published them
Ranked by amount. The gap column is each bid measured against the winning one — subtraction, not a judgement about whether anyone bid well.
#TendererBidBehind the winner
1Elara 1 Pte. Ltd. And Callisto 1 Pte. Ltd.S$1,132,000,000—
2Far East Civil Engineering (Pte.) Limited and Sekisui House, Ltd.S$1,117,777,777S$14,222,223 · 1.3%
3First Meyer Development Pte. Ltd. and GLL A Pte. Ltd.S$1,060,000,000S$72,000,000 · 6.4%
4Kingsford Huray Development Pte LtdS$1,035,000,000S$97,000,000 · 8.6%
5Blossom Commercial Development Pte. Ltd. and Blossom Residential Development Pte. Ltd.S$958,089,288S$173,910,712 · 15.4%
6Sim Lian (Focus) Pte Ltd & Sim Lian (Treasure) Pte LtdS$939,999,999S$192,000,001 · 17.0%
7PQJ Retail Management Pte. Ltd. (as trustee - manager of PQJ Retail Trust) and PQJ Residential Development Pte. Ltd.S$919,998,000S$212,002,000 · 18.7%
8Nanshan Group Singapore Co. Pte. Ltd.S$906,800,006S$225,199,994 · 19.9%
9Zenmost Developments Pte. Ltd. And Zenlead Investments Pte. Ltd.S$905,807,755S$226,192,245 · 20.0%
10CEL Unique Development Pte. Ltd.S$863,810,000S$268,190,000 · 23.7%
11FCL Residences Pte. Ltd. and KH Capital Pte. Ltd.S$834,000,000S$298,000,000 · 26.3%
12Soilbuild Group Holdings LtdS$774,488,000S$357,512,000 · 31.6%

What the land cost and what a unit sells for are not two ends of one sum. Between them sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold units. None of those is published for a named project, so this site does not estimate a developer’s cost or margin and no figure here should be read as one.

Source: HDB — Sites Sold by HDB · tender awarded 21 Jun 2017 · transcribed from HDB’s published tables on 2026-08-31 · prices are nominal and are not adjusted for inflation. HDB names the development on this row as “Woodleigh Mall & Woodleigh Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2017 · the groundS$1,132,000,000S$1,181 per sq ft of gross floor area
Today · the homes on it$2,235median of 317 filed transactions, 2021-09 to 2026-09

Those two are not the same square foot. Gross floor area includes what nobody buys — the corridors, the car park, the plant rooms — so the land rate is spread across more area than a unit is sold by. The ratio is arithmetic on two published figures and is not a return, a profit, or an appreciation.

Year by year, for a median-sized unit

80–90 sqm band. Counts in brackets; a year with fewer than 3 filed sales is kept and marked rather than dropped, because a reader can discount a thin year and cannot discount one that was silently removed.
YearMedian psfAgainst the year before
2021$2,153 (31)—
2022$2,037 (21)-5.4%
2023$2,349 (6)+15.3%
2024$2,516 (6)+7.1%
2025$2,603 (8)+3.5%
2026$2,662 (7)+2.3%

The two ends of this page are not two ends of one sum. Between the tender and the first unit sold sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold stock. None of those is published for a named project, so nothing here estimates a developer’s cost or margin and no figure on this page should be read as one. Why that is refused.

The rest of it