Esparina Residences

The ground under it was tendered in 2010. Both ends of that are public; nobody puts them together.

The land under Esparina Residences

HDB put this parcel out to tender and names Esparina Residences as what was built on it. Everything below is from that tender: the dates, the winning price, and the 11 bids that came in.

  1. Tender launched15 Jan 2010
  2. Tender closed4 Mar 201011 bids received
  3. Awarded5 Mar 2010Opal Star Pte Ltd & Lum Chang Building Contractors Pte Ltd
  4. Winning tenderS$193,280,000S$3,391 per sq m of gross floor area · S$315 per sq ft
Parcel
Sengkang E6 Compassvale Bow
Site area
19,000 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
57,000 sq m
Sold as
EC
Every bid — all 11, 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
1Opal Star Pte Ltd & Lum Chang Building Contractors Pte LtdS$193,280,000—
2MCC Land (Singapore) Pte. Ltd.S$190,700,000S$2,580,000 · 1.3%
3Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd & Hoi Hup J.V. Development Pte LtdS$181,190,000S$12,090,000 · 6.3%
4Maxdin Pte LtdS$166,000,000S$27,280,000 · 14.1%
5ChoiceHomes Investments Pte Ltd / CEL Development Pte LtdS$165,388,889S$27,891,111 · 14.4%
6Sim Lian Land Pte LtdS$163,900,000S$29,380,000 · 15.2%
7FCC Net Pte LtdS$156,000,000S$37,280,000 · 19.3%
8Qingjian Realty Pte LtdS$153,888,777S$39,391,223 · 20.4%
9Tuas Hi-Tech Park Pte LtdS$143,333,333S$49,946,667 · 25.8%
10Sunmaster Holdings Pte. Ltd.S$140,380,000S$52,900,000 · 27.4%
11Boon Keng Development Pte LtdS$121,800,000S$71,480,000 · 37.0%

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 5 Mar 2010 · 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 “Esparina Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2010 · the groundS$193,280,000S$315 per sq ft of gross floor area
Today · the homes on it$1,605median of 179 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

80–90 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
2022$1,303 (1)—
2023$1,611 (1)+23.6%
2024$1,548 (3)-3.9%

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