Rindu Terrace

The ground under it was tendered in 1993. Both ends of that are public; nobody puts them together.

The land under Rindu Terrace

HDB put this parcel out to tender and names Rindu Terrace as what was built on it. Everything below is from that tender: the dates, the winning price, and the 14 bids that came in.

  1. Tender launched28 Aug 1992
  2. Tender closed23 Oct 199214 bids received
  3. Awarded2 Feb 1993RDC Land Pte Ltd
  4. Winning tenderS$2,765,309HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Serangoon S3c Serangoon Ave 1
Site area
2,106 sq m
Lease
99 yrs
Plot ratio
0.8
Gross floor area
Not published
Sold as
Condominium
Every bid — all 14, 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
1RDC Land Pte LtdS$2,765,309—
2Hoi Hup Realty Pte LtdS$2,222,000S$543,309 · 19.6%
3Ho Bee Investment Pte LtdS$2,106,000S$659,309 · 23.8%
4Hua Kok Realty (Pte) LtdS$2,084,720S$680,589 · 24.6%
5Hougang Town Central Development Pte LtdS$2,028,000S$737,309 · 26.7%
6Mr Goh Peng Tong & Mr Lim Boon Leng, JohnS$1,889,800S$875,509 · 31.7%
7Yuet Fong Realty Pte LtdS$1,800,000S$965,309 · 34.9%
8United Consultants Pte LtdS$1,748,063S$1,017,246 · 36.8%
9Creative Investments Pte LtdS$1,700,000S$1,065,309 · 38.5%
10Goodhouse Development Pte LtdS$1,500,000S$1,265,309 · 45.8%
11Golden Development Pte LtdS$1,442,622S$1,322,687 · 47.8%
12Mr Ho Ming Heng / Mdm Lim Siew Heng, Priscilla & Mdm Yeo Kim NeoS$1,133,082S$1,632,227 · 59.0%
13Island Tamara Holding Pte Ltd/Wnyark Investment Pte Ltd/Karimun Shipping Pte LtdS$880,008S$1,885,301 · 68.2%
14Swee Hin Enterprise Gunny Bag (Pte) LtdS$880,000S$1,885,309 · 68.2%

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 2 Feb 1993 · 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 “Rindu Terrace”. This parcel, from tender to today · Every land sale

What has been filed there since

1993 · the groundS$2,765,309HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,304median of 2 filed transactions, 2021-09 to 2026-09

Year by year, for a median-sized unit

200–210 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$1,105 (1)—
2026$1,503 (1)+36.0%

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