Queens Peak

The ground under it was tendered in 2015. Both ends of that are public; nobody puts them together.

The land under Queens Peak

HDB put this parcel out to tender and names Queens Peak as what was built on it. Everything below is from that tender: the dates, the winning price, and the 9 bids that came in.

  1. Tender launched29 Apr 2015
  2. Tender closed23 Jun 20159 bids received
  3. Awarded30 Jun 2015HY Realty Pte Ltd
  4. Winning tenderS$483,178,000S$9,377 per sq m of gross floor area · S$871 per sq ft
Parcel
Queenstown S9b Dundee Road
Site area
10,516 sq m
Lease
99 yrs
Plot ratio
4.9
Gross floor area
51,529 sq m
Sold as
Condominium
Every bid — all 9, 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
1HY Realty Pte LtdS$483,178,000—
2Allgreen Properties LimitedS$445,910,000S$37,268,000 · 7.7%
3Intrepid Investments Pte Ltd, Verwood Holdings Pte. Ltd. and Hong Realty (Private) LimitedS$432,774,525S$50,403,475 · 10.4%
4FCL Tampines Court Pte. Ltd. and KH Capital Pte. Ltd.S$421,500,000S$61,678,000 · 12.8%
5UOL Venture Investments Pte. Ltd., Singland Homes Pte. Ltd., Peak Opal Pte. Ltd. and Orchard Square Pte. Ltd.S$417,280,000S$65,898,000 · 13.6%
6Excelsior Investments Pte LtdS$402,080,000S$81,098,000 · 16.8%
7Sing Holdings LimitedS$389,000,000S$94,178,000 · 19.5%
8MCL Land (Regency) Pte. Ltd.S$387,000,000S$96,178,000 · 19.9%
9Japura Development Pte LtdS$281,000,888S$202,177,112 · 41.8%

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 30 Jun 2015 · 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 Peak”. This parcel, from tender to today · Every land sale

What has been filed there since

2015 · the groundS$483,178,000S$871 per sq ft of gross floor area
Today · the homes on it$2,172median of 209 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

50–60 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$1,906 (1)—
2022$2,002 (6)+5.0%
2023$2,178 (3)+8.8%
2024$2,178 (4)0.0%
2025$2,194 (4)+0.7%
2026$2,242 (3)+2.2%

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