Flo Residence

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

The land under Flo Residence

HDB put this parcel out to tender and names Flo Residence 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 launched29 Jun 2011
  2. Tender closed1 Sep 20118 bids received
  3. Awarded7 Sep 2011Capital Development Pte Ltd / ZACD Investments Pte Ltd
  4. Winning tenderS$169,559,000S$3,477 per sq m of gross floor area · S$323 per sq ft
Parcel
Punggol S6 Punggol Field Walk
Site area
14,344 sq m
Lease
99 yrs
Plot ratio
3.4
Gross floor area
48,770 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
1Capital Development Pte Ltd / ZACD Investments Pte LtdS$169,559,000—
2FCL Topaz Pte. Ltd., Far East Civil Engineering (Pte.) Limited & Sekisui House, Ltd.S$163,000,000S$6,559,000 · 3.9%
3Leng Hoe Development Pte. Ltd.S$161,800,000S$7,759,000 · 4.6%
4Allgreen Properties LimitedS$160,080,000S$9,479,000 · 5.6%
5EL Development Pte LtdS$142,000,000S$27,559,000 · 16.3%
6Heeton Capital Pte. Ltd.S$140,800,000S$28,759,000 · 17.0%
7Wee Hur Development Pte LtdS$126,000,000S$43,559,000 · 25.7%
8Intrepid Investments Pte. Ltd.S$120,738,880S$48,820,120 · 28.8%

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 7 Sep 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 “FLO Residence”. This parcel, from tender to today · Every land sale

What has been filed there since

2011 · the groundS$169,559,000S$323 per sq ft of gross floor area
Today · the homes on it$1,263median of 128 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
2021$939 (2)—
2022$1,146 (9)+22.0%
2023$1,237 (7)+7.9%
2024$1,374 (9)+11.1%
2025$1,412 (7)+2.8%
2026$1,502 (5)+6.4%

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