Rivertrees Residences

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

The land under Rivertrees Residences

HDB put this parcel out to tender and names Rivertrees Residences 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 launched15 Apr 2013
  2. Tender closed13 Jun 20139 bids received
  3. Awarded14 Jun 2013FCL Topaz Pte. Ltd., Far East Orchard Limited and Sekisui House, Ltd.
  4. Winning tenderS$256,980,000S$5,737 per sq m of gross floor area · S$533 per sq ft
Parcel
Sengkang S12 Fernvale Close
Site area
14,931 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
44,792 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
1FCL Topaz Pte. Ltd., Far East Orchard Limited and Sekisui House, Ltd.S$256,980,000—
2MCC Land (Singapore) Pte LtdS$250,000,000S$6,980,000 · 2.7%
3UOL Development (Sengkang) Pte. Ltd.S$240,200,000S$16,780,000 · 6.5%
4Kingsford Development Pte LtdS$236,728,629S$20,251,371 · 7.9%
5Bellevue Properties Pte. Ltd.S$229,000,000S$27,980,000 · 10.9%
6CEL EC Development Pte LtdS$228,999,000S$27,981,000 · 10.9%
7World Class Land Pte LtdS$227,588,000S$29,392,000 · 11.4%
8Leng Hoe Development Pte. Ltd.S$218,880,000S$38,100,000 · 14.8%
9EL Development Pte LtdS$200,100,000S$56,880,000 · 22.1%

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 14 Jun 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 “Rivertrees Residences”. This parcel, from tender to today · Every land sale

What has been filed there since

2013 · the groundS$256,980,000S$533 per sq ft of gross floor area
Today · the homes on it$1,458median of 127 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
2021$1,254 (1)—
2022$1,240 (2)-1.1%
2023$1,436 (4)+15.8%
2024$1,477 (4)+2.9%
2025$1,515 (1)+2.6%
2026$1,568 (1)+3.5%

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