The Madeira

The ground under it was tendered in 2000. Both ends of that are public; nobody puts them together.

The land under The Madeira

HDB put this parcel out to tender and names The Madeira as what was built on it. Everything below is from that tender: the dates, the winning price, and the 8 bids that came in.

  1. Tender launched25 Feb 2000
  2. Tender closed13 Apr 20008 bids received
  3. Awarded17 May 2000Janiton Pte Ltd
  4. Winning tenderS$172,690,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Bukit Batok S7 Bukit Batok Street 31
Site area
18,918 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
Not published
Sold as
Condominium
Every bid — all 8, 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
1Janiton Pte LtdS$172,690,000—
2Winlite Investment Pte LtdS$161,969,000S$10,721,000 · 6.2%
3Marina Green Ltd & Success Development Pte LtdS$157,600,000S$15,090,000 · 8.7%
4Centrepoint Properties LtdS$153,900,000S$18,790,000 · 10.9%
5Allgreen Properties Ltd & Hoe Seng Company (Pte) LtdS$133,888,000S$38,802,000 · 22.5%
6Keppel Land Properties Pte LtdS$118,208,000S$54,482,000 · 31.5%
7Hong Leong Holdings LtdS$118,118,000S$54,572,000 · 31.6%
8Parvillion Pte Ltd, United Overseas Land Ltd, Haw Par Realty Pte Ltd & Feature Dev Pte Ltd Late submission received atS$12S$172,689,988 · 100.0%

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 17 May 2000 · 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 Madeira”. This parcel, from tender to today · Every land sale

What has been filed there since

2000 · the groundS$172,690,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,131median of 65 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$905 (3)—
2022$979 (3)+8.2%
2023$1,181 (3)+20.6%
2024$1,157 (5)-2.0%
2025$1,212 (7)+4.8%
2026$1,228 (1)+1.3%

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