The Gardens at Bishan

The ground under it was tendered in 1996. Both ends of that are public; nobody puts them together.

The land under The Gardens at Bishan

HDB put this parcel out to tender and names The Gardens at Bishan as what was built on it. Everything below is from that tender: the dates, the winning price, and the 7 bids that came in.

  1. Tender launched27 Sep 1996
  2. Tender closed21 Nov 19967 bids received
  3. Awarded23 Dec 1996First Capital Corporation Ltd
  4. Winning tenderS$275,559,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Bishan S3 Sin Ming Walk
Site area
34,949 sq m
Lease
99 yrs
Plot ratio
2.5
Gross floor area
Not published
Sold as
Condominium
Every bid — all 7, 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
1First Capital Corporation LtdS$275,559,000—
2Wincrest Investment Pte Ltd / Pidemco Land LtdS$243,189,000S$32,370,000 · 11.7%
3Golden Development Pte Ltd / Orchard Parade Land Pte LtdS$218,258,000S$57,301,000 · 20.8%
4Malayan Credit LtdS$180,572,648S$94,986,352 · 34.5%
5Allgreen Properties Ltd / Hoe Seng Co (Pte) LtdS$173,890,000S$101,669,000 · 36.9%
6City Developments LtdS$170,800,000S$104,759,000 · 38.0%
7United Overseas Land Ltd and OthersS$152,000,000S$123,559,000 · 44.8%

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 23 Dec 1996 · 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 “The Gardens at Bishan”. This parcel, from tender to today · Every land sale

What has been filed there since

1996 · the groundS$275,559,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,518median of 128 filed transactions, 2021-09 to 2026-09

Year by year, for a median-sized unit

110–120 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$1,286 (6)—
2022$1,493 (11)+16.1%
2023$1,549 (4)+3.8%
2024$1,593 (10)+2.8%
2025$1,783 (7)+11.9%
2026$1,874 (6)+5.1%

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