Kovan Grandeur

The ground under it was tendered in 2010. Both ends of that are public; nobody puts them together.

The land under Kovan Grandeur

HDB put this parcel out to tender and names Kovan Grandeur as what was built on it. Everything below is from that tender: the dates, the winning price, and the 16 bids that came in.

  1. Tender launched7 Apr 2010
  2. Tender closed6 May 201016 bids received
  3. Awarded10 May 2010Fragrance Properties Pte Ltd
  4. Winning tenderS$16,250,000at least S$4,360 per sq m of gross floor area · at least S$405 per sq ft
Parcel
Hougang S13 Tampines Road
Site area
2,662 sq m
Lease
99 yrs
Plot ratio
1.4
Gross floor area
3,727 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 16, 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
1Fragrance Properties Pte LtdS$16,250,000—
2Whye Wah Group Pte LtdS$15,500,000S$750,000 · 4.6%
3OPH Marymount LimitedS$14,999,000S$1,251,000 · 7.7%
4Ningbo Construction Group (S) Pte LtdS$13,999,998S$2,250,002 · 13.8%
5Sea + Park Development Pte LtdS$13,900,000S$2,350,000 · 14.5%
6Right Construction Pte LtdS$12,330,000S$3,920,000 · 24.1%
7JBE Holdings Pte LtdS$12,300,000S$3,950,000 · 24.3%
8Goodland Sunny Pte LtdS$11,000,888S$5,249,112 · 32.3%
9Cadence Properties Pte. Ltd.S$10,918,000S$5,332,000 · 32.8%
10Techkon Investment Pte LtdS$10,080,000S$6,170,000 · 38.0%
11Vigcon Construction Pte LtdS$9,868,000S$6,382,000 · 39.3%
12Liverland Investments Pte LtdS$9,280,000S$6,970,000 · 42.9%
13Invest-Ho Properties Pte LtdS$9,100,000S$7,150,000 · 44.0%
14KDC Development Pte LtdS$8,850,000S$7,400,000 · 45.5%
15Wee Hur Development Pte LtdS$8,320,000S$7,930,000 · 48.8%
16Kim Hoe Corporation Pte LtdS$7,500,000S$8,750,000 · 53.8%

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 10 May 2010 · 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 “Kovan Grandeur”. This parcel, from tender to today · Every land sale

What has been filed there since

2010 · the groundS$16,250,000at least S$405 per sq ft of gross floor area
Today · the homes on it$1,421median of 35 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, every size at this address

Every size that sold, which is why it moves when the mix of sizes moves and not only when prices do — no single size band here has enough years to stand on its own yet. 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$1,406 (4)—
2022$1,276 (6)-9.2%
2023$1,497 (9)+17.3%
2024$1,060 (4)-29.2%
2025$1,472 (9)+38.9%
2026$1,472 (3)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