The Riverina

The ground under it was tendered in 1996. Both ends of that are public; nobody puts them together.

The land under The Riverina

HDB put this parcel out to tender and names The Riverina 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 launched24 Nov 1995
  2. Tender closed25 Jan 19965 bids received
  3. Awarded29 Mar 1996Ho Bee Developments Pte Ltd
  4. Winning tenderS$105,118,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Pasir Ris S4b Pasir Ris Drive 3
Site area
56,998 sq m
Lease
99 yrs
Plot ratio
—
Gross floor area
Not published
Sold as
Condominium
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
1Ho Bee Developments Pte LtdS$105,118,000—
2Dawnatron Pte LtdS$98,200,000S$6,918,000 · 6.6%
3SSL Properties Pte LtdS$72,328,000S$32,790,000 · 31.2%
4Allgreen Properties Ltd / Hoe Seng Company Pte Ltd / Pacific Carriers LtdS$59,850,000S$45,268,000 · 43.1%
5Hong Leong Holdings LtdS$44,888,000S$60,230,000 · 57.3%

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 Mar 1996 · 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 Riverina”. This parcel, from tender to today · Every land sale

What has been filed there since

1996 · the groundS$105,118,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,275median of 49 filed transactions, 2021-09 to 2026-09

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$1,161 (6)—
2022$1,244 (13)+7.1%
2023$1,329 (6)+6.8%
2024$1,312 (5)-1.3%
2025$1,465 (13)+11.7%
2026$1,574 (6)+7.4%

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