Hundred Palms Residences

The ground under it was tendered in 2016. Both ends of that are public; nobody puts them together.

The land under Hundred Palms Residences

HDB put this parcel out to tender and names Hundred Palms Residences 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 launched29 Dec 2015
  2. Tender closed18 Feb 201610 bids received
  3. Awarded29 Feb 2016Hoi Hup Realty Pte Ltd
  4. Winning tenderS$183,800,000S$3,563 per sq m of gross floor area · S$331 per sq ft
Parcel
Hougang E6 Yio Chu Kang Road
Site area
18,423 sq m
Lease
99 yrs
Plot ratio
2.8
Gross floor area
51,584 sq m
Sold as
EC
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
1Hoi Hup Realty Pte LtdS$183,800,000—
2Nanshan Group Singapore Co. Pte. Ltd.S$173,238,458S$10,561,542 · 5.7%
3Qingjian Realty (Residential) Pte LtdS$172,128,000S$11,672,000 · 6.4%
4Wee Hur Development Pte LtdS$170,000,000S$13,800,000 · 7.5%
5Allgreen Properties LimitedS$161,000,000S$22,800,000 · 12.4%
6China Construction (South Pacific) Development Co. Pte. Ltd.S$158,668,000S$25,132,000 · 13.7%
7CEL Residential Development Pte. Ltd.S$155,888,000S$27,912,000 · 15.2%
8Evia Real Estate (8) Pte Ltd and GE DG Pte LtdS$145,588,888S$38,211,112 · 20.8%
9Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd.S$145,000,000S$38,800,000 · 21.1%
10TTH Development Pte Ltd and K H Capital Pte LtdS$141,033,873S$42,766,127 · 23.3%

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 29 Feb 2016 · 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 “Hundred Palms Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2016 · the groundS$183,800,000S$331 per sq ft of gross floor area
Today · the homes on it$1,843median of 134 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

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
2024$1,826 (1)—
2025$1,818 (39)-0.4%
2026$1,991 (7)+9.5%

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