Eight Riversuites

The ground under it was tendered in 2011. Both ends of that are public; nobody puts them together.

The land under Eight Riversuites

HDB put this parcel out to tender and names Eight Riversuites as what was built on it. Everything below is from that tender: the dates, the winning price, and the 8 bids that came in.

  1. Tender launched23 Feb 2011
  2. Tender closed7 Apr 20118 bids received
  3. Awarded11 Apr 2011United Engineers Developments Pte Ltd
  4. Winning tenderS$543,000,888S$8,333 per sq m of gross floor area · S$774 per sq ft
Parcel
Kallang Whampoa S9 Bendemeer Road/ Whampoa East
Site area
18,618 sq m
Lease
99 yrs
Plot ratio
3.5
Gross floor area
65,164 sq m
Sold as
Condominium
Every bid — all 8, 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
1United Engineers Developments Pte LtdS$543,000,888—
2Sherwood Development Pte LtdS$482,230,000S$60,770,888 · 11.2%
3Sunmaster Holdings Pte. Ltd. and Intrepid Investments Pte. Ltd.S$475,200,000S$67,800,888 · 12.5%
4F.E. Lakeside Pte. Ltd. and FCL Topaz Pte. Ltd.S$469,000,000S$74,000,888 · 13.6%
5Best Desire Investments LimitedS$401,100,000S$141,900,888 · 26.1%
6Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Investment Focus Pte LtdS$387,200,000S$155,800,888 · 28.7%
7Qingdao Construction (Singapore) Pte LtdS$380,888,777S$162,112,111 · 29.9%
8Allgreen Properties LimitedS$363,880,000S$179,120,888 · 33.0%

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 11 Apr 2011 · 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 “Eight Riversuites”. This parcel, from tender to today · Every land sale

What has been filed there since

2011 · the groundS$543,000,888S$774 per sq ft of gross floor area
Today · the homes on it$1,716median of 279 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

70–80 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$1,474 (5)—
2022$1,548 (8)+5.0%
2023$1,598 (4)+3.2%
2024$1,672 (8)+4.6%
2025$1,750 (7)+4.7%
2026$1,796 (7)+2.6%

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