The Tropica

The ground under it was tendered in 1996. Both ends of that are public; nobody puts them together.

The land under The Tropica

HDB put this parcel out to tender and names The Tropica as what was built on it. Everything below is from that tender: the dates, the winning price, and the 10 bids that came in.

  1. Tender launched31 May 1996
  2. Tender closed25 Jul 199610 bids received
  3. Awarded6 Sep 1996City Developments Ltd/Hong Leong Holdings Ltd
  4. Winning tenderS$194,663,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Tampines S3 Tampines Avenue 1
Site area
34,894 sq m
Lease
99 yrs
Plot ratio
2.1
Gross floor area
Not published
Sold as
Condominium
Every bid — all 10, 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
1City Developments Ltd / Hong Leong Holdings LtdS$194,663,000—
2RichDeal Investment Pte LtdS$168,311,000S$26,352,000 · 13.5%
3Allgreen Properties Ltd / Hoe Seng Company (Pte) LtdS$155,398,000S$39,265,000 · 20.2%
4Erishi Holdings Pte LtdS$154,590,000S$40,073,000 · 20.6%
5Azurite Land Pte LtdS$151,100,000S$43,563,000 · 22.4%
6First Capital Corporation LtdS$147,200,000S$47,463,000 · 24.4%
7NTUC Choice Homes Co-Operative LtdS$139,227,060S$55,435,940 · 28.5%
8OUB Centre LtdS$136,509,149S$58,153,851 · 29.9%
9Sin Soon Lee Realty Co Pte LtdS$131,388,888S$63,274,112 · 32.5%
10Alkaff Complex Pte LtdS$93,880,000S$100,783,000 · 51.8%

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 6 Sep 1996 · 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 Tropica”. This parcel, from tender to today · Every land sale

What has been filed there since

1996 · the groundS$194,663,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,142median of 58 filed transactions, 2021-09 to 2026-09

Year by year, for a median-sized unit

120–130 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$948 (1)—
2022$884 (1)-6.8%

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