The Luxurie

The ground under it was tendered in 2011. Both ends of that are public; nobody puts them together.

The land under The Luxurie

HDB put this parcel out to tender and names The Luxurie 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 launched21 Jan 2011
  2. Tender closed15 Mar 20119 bids received
  3. Awarded18 Mar 2011Keppel Land Realty Pte Ltd
  4. Winning tenderS$286,790,000S$5,401 per sq m of gross floor area · S$502 per sq ft
Parcel
Sengkang S6 Sengkang Square/ Compassvale Road
Site area
17,700 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
53,100 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
1Keppel Land Realty Pte LtdS$286,790,000—
2Sunmaster Holdings Pte. Ltd., Garden Estates (Pte) Limited and TID Residential Pte. Ltd.S$274,350,000S$12,440,000 · 4.3%
3Qingdao Construction (Singapore) Pte LtdS$271,700,000S$15,090,000 · 5.3%
4F.E. Lakeside Pte. Ltd. And FCL Topaz Pte. Ltd.S$255,000,000S$31,790,000 · 11.1%
5MCL Land LimitedS$240,000,000S$46,790,000 · 16.3%
6Allgreen Properties LimitedS$233,888,000S$52,902,000 · 18.4%
7Sim Lian Land Pte LtdS$230,000,000S$56,790,000 · 19.8%
8First Changi Development Pte LtdS$228,800,000S$57,990,000 · 20.2%
9Leng Hoe Development Pte. Ltd.S$192,500,000S$94,290,000 · 32.9%

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 18 Mar 2011 · 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 “The Luxurie”. This parcel, from tender to today · Every land sale

What has been filed there since

2011 · the groundS$286,790,000S$502 per sq ft of gross floor area
Today · the homes on it$1,463median of 180 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$1,224 (2)—
2022$1,260 (3)+2.9%
2023$1,343 (2)+6.6%
2024$1,450 (5)+8.0%
2025$1,530 (3)+5.5%
2026$1,527 (1)-0.2%

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