Emerald Park

The ground under it was tendered in 1991. Both ends of that are public; nobody puts them together.

The land under Emerald Park

HDB put this parcel out to tender and names Emerald Park as what was built on it. Everything below is from that tender: the dates, the winning price, and the 10 bids that came in.

  1. Tender launched27 Feb 1991
  2. Tender closed24 Apr 199110 bids received
  3. Awarded14 Jun 1991Far East Organisation Centre Pte Ltd
  4. Winning tenderS$36,780,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Bt Merah S2 Ganges Ave/Indus Rd
Site area
16,466 sq m
Lease
99 yrs
Plot ratio
2
Gross floor area
Not published
Sold as
Condominium
Every bid — all 10, 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
1Far East Organisation Centre Pte LtdS$36,780,000—
2Sing Development (Pte) Ltd and Sing Holdings LtdS$24,962,304S$11,817,696 · 32.1%
3Norgay Investments Pte LtdS$22,800,000S$13,980,000 · 38.0%
4Lam San Development Pte LtdS$19,850,795S$16,929,205 · 46.0%
5Kengfu Development Pte LtdS$17,680,000S$19,100,000 · 51.9%
6Teo Teck Huat (S) Pte Ltd and Ong & Lim Enterprise Pte LtdS$16,000,000S$20,780,000 · 56.5%
7United Overseas Land LtdS$15,597,028S$21,182,972 · 57.6%
8Hong Leong Holdings LtdS$15,000,000S$21,780,000 · 59.2%
9Sing-Indo Enterprises Pte LtdS$12,481,152S$24,298,848 · 66.1%
10Alwyn Development Pte LtdS$7,210,000S$29,570,000 · 80.4%

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 14 Jun 1991 · 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 “Emerald Park”. This parcel, from tender to today · Every land sale

What has been filed there since

1991 · the groundS$36,780,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,578median of 32 filed transactions, 2021-09 to 2026-09

Year by year, for a median-sized unit

90–100 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
2023$1,548 (1)—
2024$1,616 (1)+4.4%

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