The Floravale

The ground under it was tendered in 1997. Both ends of that are public; nobody puts them together.

The land under The Floravale

HDB put this parcel out to tender and names The Floravale as what was built on it. Everything below is from that tender: the dates, the winning price, and the 5 bids that came in.

  1. Tender launched27 Jun 1997
  2. Tender closed14 Aug 19975 bids received
  3. Awarded18 Sep 1997Pidemco Land Ltd
  4. Winning tenderS$173,900,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Jurong West E2 Jurong West Street 81
Site area
36,925 sq m
Lease
99 yrs
Plot ratio
2.8
Gross floor area
Not published
Sold as
EC
Every bid — all 5, 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
1Pidemco Land LimitedS$173,900,000—
2Allgreen Properties Ltd / Hoe Seng Co (Pte) LtdS$158,880,000S$15,020,000 · 8.6%
3NTUC Choice Homes Co-operative Limited / Koh Brothers Development Pte Ltd J.VS$148,000,000S$25,900,000 · 14.9%
4Lum Chang Bldg Contractors Pte Ltd / L.C.Dev Ltd / Comfort Pty Pte Ltd / Waterbank Pty (S) Pte LtdS$145,000,000S$28,900,000 · 16.6%
5Low Keng Huat (S) Ltd / DBS Realty (Pte) LtdS$120,198,000S$53,702,000 · 30.9%

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 18 Sep 1997 · 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 “The Floravale”. This parcel, from tender to today · Every land sale

What has been filed there since

1997 · the groundS$173,900,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$949median of 125 filed transactions, 2021-09 to 2026-09

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
2021$744 (4)—
2022$808 (15)+8.6%
2023$921 (16)+14.0%
2024$997 (10)+8.3%
2025$1,051 (4)+5.4%
2026$1,116 (11)+6.2%

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