Sims Urban Oasis

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

The land under Sims Urban Oasis

HDB put this parcel out to tender and names Sims Urban Oasis as what was built on it. Everything below is from that tender: the dates, the winning price, and the 4 bids that came in.

  1. Tender launched30 Dec 2013
  2. Tender closed29 Apr 20144 bids received
  3. Awarded30 Apr 2014First Changi Development Pte Ltd
  4. Winning tenderS$530,891,000S$7,404 per sq m of gross floor area · S$688 per sq ft
Parcel
Geylang S6 Sims Drive
Site area
23,900 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
71,700 sq m
Sold as
Condominium
Every bid — all 4, 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 Changi Development Pte LtdS$530,891,000—
2Verwood Holdings Pte. Ltd., Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd.S$502,000,000S$28,891,000 · 5.4%
3Far East Civil Engineering (Pte.) Limited, FCL Topaz Pte. Ltd. and Sekisui House, Ltd.S$447,777,000S$83,114,000 · 15.7%
4Sim Lian Land Pte LtdS$356,000,000S$174,891,000 · 32.9%

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 30 Apr 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 “Sims Urban Oasis”. This parcel, from tender to today · Every land sale

What has been filed there since

2014 · the groundS$530,891,000S$688 per sq ft of gross floor area
Today · the homes on it$1,794median of 341 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

60–70 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$1,573 (3)—
2022$1,619 (24)+2.9%
2023$1,723 (13)+6.4%
2024$1,858 (10)+7.8%
2025$1,888 (9)+1.6%
2026$1,881 (15)-0.4%

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