Queens

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

The land under Queens

HDB put this parcel out to tender and names Queens 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 launched19 Sep 1996
  2. Tender closed6 Nov 19975 bids received
  3. Awarded18 Nov 1997Allgreen Properties Ltd/Hoe Seng Co (Pte) Ltd
  4. Winning tenderS$223,000,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Queenstown S2 Commonwealth Avenue
Site area
21,905 sq m
Lease
99 yrs
Plot ratio
4
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
1Allgreen Properties Ltd / Hoe Seng Co (Pte) LtdS$223,000,000—
2Erishi Holdings Private LimitedS$217,880,000S$5,120,000 · 2.3%
3Chancery Properties Private LimitedS$200,088,000S$22,912,000 · 10.3%
4Centrepoint Properties Ltd & Lum Chang Holdings LtdS$198,060,000S$24,940,000 · 11.2%
5DBS Realty (Private) LimitedS$188,800,000S$34,200,000 · 15.3%

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 18 Nov 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 “Queens”. This parcel, from tender to today · Every land sale

What has been filed there since

1997 · the groundS$223,000,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,603median of 89 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$1,410 (11)—
2022$1,465 (18)+3.9%
2023$1,544 (20)+5.4%
2024$1,724 (21)+11.7%
2025$1,807 (14)+4.8%
2026$1,806 (5)-0.1%

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