Bellewaters

The ground under it was tendered in 2013. Both ends of that are public; nobody puts them together.

The land under Bellewaters

HDB put this parcel out to tender and names Bellewaters as what was built on it. Everything below is from that tender: the dates, the winning price, and the 6 bids that came in.

  1. Tender launched15 Apr 2013
  2. Tender closed30 May 20136 bids received
  3. Awarded31 May 2013Qingjian Realty (South Pacific) Group Pte Ltd
  4. Winning tenderS$245,577,000S$3,559 per sq m of gross floor area · S$331 per sq ft
Parcel
Sengkang E11 Anchorvale Crescent
Site area
23,000 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
69,000 sq m
Sold as
EC
Every bid — all 6, 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
1Qingjian Realty (South Pacific) Group Pte LtdS$245,577,000—
2Bellevue Properties Pte. Ltd.S$238,000,000S$7,577,000 · 3.1%
3Kheng Leong Company (Private) Limited and Low Keng Huat (Singapore) LimitedS$235,200,000S$10,377,000 · 4.2%
4FCL Place Pte. Ltd. and Hytech Builders Pte LtdS$228,980,000S$16,597,000 · 6.8%
5EL Development Pte LtdS$204,800,000S$40,777,000 · 16.6%
6Ecco Development Pte LtdS$198,000,000S$47,577,000 · 19.4%

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 31 May 2013 · 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 “Bellewaters”. This parcel, from tender to today · Every land sale

What has been filed there since

2013 · the groundS$245,577,000S$331 per sq ft of gross floor area
Today · the homes on it$1,289median of 329 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

100–110 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$1,035 (1)—
2022$1,200 (32)+15.9%
2023$1,328 (11)+10.7%
2024$1,441 (6)+8.5%
2025$1,481 (11)+2.8%
2026$1,609 (4)+8.6%

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