Riverbank @ Fernvale
The ground under it was tendered in 2013. Both ends of that are public; nobody puts them together.
The land under Riverbank @ Fernvale
HDB put this parcel out to tender and names Riverbank @ Fernvale as what was built on it. Everything below is from that tender: the dates, the winning price, and the 8 bids that came in.
- Tender launched28 Feb 2013
- Tender closed11 Apr 20138 bids received
- Awarded12 Apr 2013Secure Development Pte. Ltd.
- Winning tenderS$262,100,000S$5,262 per sq m of gross floor area · S$489 per sq ft
- Parcel
- Sengkang S11 Sengkang West Way
- Site area
- 16,604 sq m
- Lease
- 99 yrs
- Plot ratio
- 3
- Gross floor area
- 49,812 sq m
- Sold as
- Condominium
Every bid — all 8, as HDB published them
| # | Tenderer | Bid | Behind the winner |
|---|---|---|---|
| 1 | Secure Development Pte. Ltd. | S$262,100,000 | — |
| 2 | Bayfront Land Pte Ltd | S$253,550,000 | S$8,550,000 · 3.3% |
| 3 | FCL Topaz Pte. Ltd., Far East Orchard Limited and Sekisui House, Ltd. | S$230,380,800 | S$31,719,200 · 12.1% |
| 4 | Qingjian Realty (South Pacific) Group Pte. Ltd. | S$211,000,000 | S$51,100,000 · 19.5% |
| 5 | Kingsford Development Pte Ltd | S$204,818,188 | S$57,281,812 · 21.9% |
| 6 | EL Development Pte Ltd | S$196,100,000 | S$66,000,000 · 25.2% |
| 7 | Bellevue Properties Pte. Ltd. | S$187,820,000 | S$74,280,000 · 28.3% |
| 8 | Athens Residential Development Pte. Ltd. | S$110,990,000 | S$151,110,000 · 57.7% |
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 12 Apr 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 “Riverbank @Fernvale”. This parcel, from tender to today · Every land sale
What has been filed there since
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
| Year | Median psf | Against the year before |
|---|---|---|
| 2021 | $1,056 (1) | — |
| 2022 | $1,229 (6) | +16.4% |
| 2023 | $1,246 (3) | +1.4% |
| 2024 | $1,351 (5) | +8.4% |
| 2025 | $1,444 (4) | +6.9% |
| 2026 | $1,436 (3) | -0.6% |
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
- Every filed transaction at Riverbank @ FernvaleThe full record — price history, floor premium, what a sale would net
- Every land sale since 1993441 URA sites and 216 from HDB, with every losing bid that was published
- Why there is no margin on this pageWhat sits between the two ends, and why none of it is published