Compass Heights

The ground under it was tendered in 1999. Both ends of that are public; nobody puts them together.

The land under Compass Heights

HDB put this parcel out to tender and names Compass Heights as what was built on it. Everything below is from that tender: the dates, the winning price, and the 7 bids that came in.

  1. Tender launched27 Nov 1998
  2. Tender closed4 Mar 19997 bids received
  3. Awarded30 Mar 1999Centrepoint Properties Ltd
  4. Winning tenderS$172,300,000S$1,516 per sq m of gross floor area · S$141 per sq ft
Parcel
Sengkang P1 Sengkang East Way
Site area
27,067 sq m
Lease
99 yrs
Plot ratio
4.2
Gross floor area
113,683 sq m
Sold as
Mixed
Every bid — all 7, 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
1Centrepoint Properties LtdS$172,300,000—
2Pidemco Realty Pte Ltd / Germiston Pte Ltd / Bryon Pte Ltd / I. P. Property Fund Asia (Sengkang) LtdS$149,999,990S$22,300,010 · 12.9%
3Straits Construction Co Pte Ltd / Jian Yu Development Pte Ltd & OthersS$106,300,000S$66,000,000 · 38.3%
4First Capital Corporation LtdS$102,880,000S$69,420,000 · 40.3%
5City Developments LtdS$100,000,000S$72,300,000 · 42.0%
6MCL Land Ltd / DBS Realty Pte LtdS$88,128,889S$84,171,111 · 48.9%
7Mansfield Realty Pte Ltd / TLB Land LtdS$70,800,000S$101,500,000 · 58.9%

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 Mar 1999 · 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 “Compass Point & Compass Height”. This parcel, from tender to today · Every land sale

What has been filed there since

1999 · the groundS$172,300,000S$141 per sq ft of gross floor area
Today · the homes on it$1,161median of 80 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

110–120 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$1,045 (1)—
2022$1,121 (3)+7.3%
2023$994 (1)-11.3%
2024$1,256 (3)+26.4%
2025$1,196 (2)-4.8%

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