Sol Acres

The ground under it was tendered in 2014. Both ends of that are public; nobody puts them together.

The land under Sol Acres

HDB put this parcel out to tender and names Sol Acres 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 launched16 Dec 2013
  2. Tender closed25 Feb 20147 bids received
  3. Awarded3 Mar 2014MCL Land (Brighton) Pte. Ltd.
  4. Winning tenderS$232,500,000S$4,037 per sq m of gross floor area · S$375 per sq ft
Parcel
Choa Chu Kang E7 Choa Chu Kang Grove (Parcel A)
Site area
16,455 sq m
Lease
99 yrs
Plot ratio
3.5
Gross floor area
57,593 sq m
Sold as
EC
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
1MCL Land (Brighton) Pte. Ltd.S$232,500,000—
2JBE Holdings Pte LtdS$231,390,000S$1,110,000 · 0.5%
3Sim Lian Land Pte LtdS$223,300,000S$9,200,000 · 4.0%
4Allgreen Properties LimitedS$210,089,000S$22,411,000 · 9.6%
5Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd.S$206,500,000S$26,000,000 · 11.2%
6EL Development Pte LtdS$205,900,000S$26,600,000 · 11.4%
7Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments IncS$202,600,000S$29,900,000 · 12.9%

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 3 Mar 2014 · 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 “Sol Acres”. This parcel, from tender to today · Every land sale

What has been filed there since

2014 · the groundS$232,500,000S$375 per sq ft of gross floor area
Today · the homes on it$1,402median of 563 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

70–80 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
2022$1,091 (3)—
2023$1,335 (17)+22.4%
2024$1,376 (15)+3.1%
2025$1,470 (6)+6.8%
2026$1,470 (4)0.0%

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