Ardisia Gardens

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

The land under Ardisia Gardens

HDB put this parcel out to tender and names Ardisia Gardens 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 launched28 Aug 1992
  2. Tender closed23 Oct 19929 bids received
  3. Awarded2 Feb 1993RDC Land Pte Ltd
  4. Winning tenderS$13,980,239HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Serangoon S3f Serangoon Ave 1
Site area
10,829 sq m
Lease
99 yrs
Plot ratio
0.8
Gross floor area
Not published
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
1RDC Land Pte LtdS$13,980,239—
2Creative Investments Pte LtdS$10,100,000S$3,880,239 · 27.8%
3Lido Development Pte LtdS$8,970,000S$5,010,239 · 35.8%
4DBS Realty Pte LtdS$7,800,000S$6,180,239 · 44.2%
5Union Investment Holding Pte LtdS$7,477,470S$6,502,769 · 46.5%
6Chip Tiong Investment Pte LtdS$7,149,522S$6,830,717 · 48.9%
7Island Tamara Holdings Pte Ltd/Wynyark Investment Pte Ltd/Karimun Shipping Pte LtdS$5,400,000S$8,580,239 · 61.4%
8Melodies LtdS$4,500,000S$9,480,239 · 67.8%
9Golden Development Pte LtdS$2,614,754S$11,365,485 · 81.3%

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 “Ardisia Gardens”. This parcel, from tender to today · Every land sale

What has been filed there since

1993 · the groundS$13,980,239HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,618median of 8 filed transactions, 2021-09 to 2026-09

Year by year, every size at this address

Every size that sold, which is why it moves when the mix of sizes moves and not only when prices do — no single size band here has enough years to stand on its own yet. 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$1,472 (1)—
2023$1,536 (3)+4.3%
2024$1,755 (1)+14.3%
2025$1,853 (2)+5.6%
2026$1,688 (1)-8.9%

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