Westwood Residences

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

The land under Westwood Residences

HDB put this parcel out to tender and names Westwood Residences as what was built on it. Everything below is from that tender: the dates, the winning price, and the 12 bids that came in.

  1. Tender launched31 Oct 2013
  2. Tender closed7 Jan 201412 bids received
  3. Awarded14 Jan 2014Changi Properties Pte. Ltd. & Heeton Homes Pte. Ltd.
  4. Winning tenderS$198,900,000S$4,110 per sq m of gross floor area · S$382 per sq ft
Parcel
Jurong West E3 Westwood Avenue
Site area
17,285 sq m
Lease
99 yrs
Plot ratio
2.8
Gross floor area
48,397 sq m
Sold as
EC
Every bid — all 12, 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
1Changi Properties Pte. Ltd. & Heeton Homes Pte. Ltd.S$198,900,000—
2Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd.S$198,000,000S$900,000 · 0.5%
3Fantasia Investment (Singapore) Pte LtdS$180,800,000S$18,100,000 · 9.1%
4Phoenix 88 Pte Ltd, Maxdin Pte Ltd & LMG Realty Pte LtdS$174,888,000S$24,012,000 · 12.1%
5SL (Serangoon) Pte LtdS$173,800,000S$25,100,000 · 12.6%
6UOL Overseas Investments Pte LtdS$165,000,000S$33,900,000 · 17.0%
7MCL Land (Brighton) Pte. Ltd.S$163,000,000S$35,900,000 · 18.0%
8TTH Development Pte Ltd and EL Development Pte LtdS$141,100,000S$57,800,000 · 29.1%
9Evia Real Estate (6) Pte Ltd, Ho Lee Group Pte Ltd & CNH Investment Pte LtdS$136,388,888S$62,511,112 · 31.4%
10Wee Hur Development Pte LtdS$132,630,000S$66,270,000 · 33.3%
11Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments IncS$127,000,000S$71,900,000 · 36.1%
12Sim Lian Land Pte LtdS$93,800,000S$105,100,000 · 52.8%

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 14 Jan 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 “Westwood Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2014 · the groundS$198,900,000S$382 per sq ft of gross floor area
Today · the homes on it$1,277median of 175 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
2022$1,127 (11)—
2023$1,200 (20)+6.5%
2024$1,335 (11)+11.3%
2025$1,384 (17)+3.7%
2026$1,363 (4)-1.5%

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