Dakota Residences

The ground under it was tendered in 2007. Both ends of that are public; nobody puts them together.

The land under Dakota Residences

HDB put this parcel out to tender and names Dakota Residences as what was built on it. Everything below is from that tender: the dates, the winning price, and the 15 bids that came in.

  1. Tender launched9 May 2007
  2. Tender closed12 Jun 200715 bids received
  3. Awarded14 Jun 2007Ho Bee Investment Ltd/ ChoiceHomes Investments Pte Ltd
  4. Winning tenderS$228,888,000at least S$5,637 per sq m of gross floor area · at least S$524 per sq ft
Parcel
Geylang S5 Dakota Crescent
Site area
11,601 sq m
Lease
99 yrs
Plot ratio
—
Gross floor area
40,605 sq m (max)
Sold as
Condominium

HDB marks this gross floor area as a maximum, so it is the most that could be built and not what was built. The rate above is therefore the lowest the land can have cost per square foot, not the rate itself.

Every bid — all 15, 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
1Ho Bee Investment Ltd/ ChoiceHomes Investments Pte LtdS$228,888,000—
2Multi Wealth (Singapore) Pte LtdS$222,088,000S$6,800,000 · 3.0%
3GuocoLand (Singapore) Pte LtdS$207,600,000S$21,288,000 · 9.3%
4CRL Realty Pte Ltd / Wachovia Development CorporationS$203,680,000S$25,208,000 · 11.0%
5Frasers Centrepoint LimitedS$197,000,000S$31,888,000 · 13.9%
6Allgreen Properties Limited / Hoe Seng Company (Pte) LtdS$187,800,000S$41,088,000 · 18.0%
7Dakota Pte LtdS$187,188,189S$41,699,811 · 18.2%
8City Venture Properties Pte LtdS$186,800,000S$42,088,000 · 18.4%
9Sim Lian Land Pte LtdS$183,000,000S$45,888,000 · 20.0%
10Mansfield Developments Pte LtdS$176,160,000S$52,728,000 · 23.0%
11Winsmart Investment Pte Ltd/ Greatearth Developments Pte LtdS$176,000,000S$52,888,000 · 23.1%
12Haig Development Pte LtdS$175,098,000S$53,790,000 · 23.5%
13Peak Star Pte LtdS$159,000,000S$69,888,000 · 30.5%
14Soilbuild Group Holdings LtdS$157,890,000S$70,998,000 · 31.0%
15SuperBowl Management Pte Ltd/ Wah Hoe Development Pte LtdS$142,000,000S$86,888,000 · 38.0%

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 14 Jun 2007 · 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 “Dakota Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2007 · the groundS$228,888,000at least S$524 per sq ft of gross floor area
Today · the homes on it$1,750median of 62 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

120–130 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$1,533 (2)—
2023$1,698 (8)+10.8%
2024$1,790 (5)+5.4%
2025$1,935 (2)+8.1%
2026$2,083 (1)+7.6%

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