Bellewoods

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

The land under Bellewoods

HDB put this parcel out to tender and names Bellewoods as what was built on it. Everything below is from that tender: the dates, the winning price, and the 7 bids that came in.

  1. Tender launched28 Mar 2013
  2. Tender closed9 May 20137 bids received
  3. Awarded13 May 2013Qingjian Realty (South Pacific) Group Pte Ltd
  4. Winning tenderS$216,000,000S$3,673 per sq m of gross floor area · S$341 per sq ft
Parcel
Woodlands E6 Woodlands Avenue 5 / Woodlands Avenue 6
Site area
21,004 sq m
Lease
99 yrs
Plot ratio
2.8
Gross floor area
58,812 sq m
Sold as
EC
Every bid — all 7, 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
1Qingjian Realty (South Pacific) Group Pte Ltd.S$216,000,000—
2Bellevue Properties Pte. Ltd.S$198,000,000S$18,000,000 · 8.3%
3FCL Place Pte. Ltd.S$191,800,800S$24,199,200 · 11.2%
4Far East Civil Engineering (Pte.) Limited & China Construction (South Pacific) Development Co Pte LtdS$183,333,333S$32,666,667 · 15.1%
5EL Development Pte LtdS$175,100,000S$40,900,000 · 18.9%
6BBR Property Pte. Ltd.S$162,700,000S$53,300,000 · 24.7%
7CEL EC Development Pte LtdS$158,890,000S$57,110,000 · 26.4%

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 13 May 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 “Bellewoods”. This parcel, from tender to today · Every land sale

What has been filed there since

2013 · the groundS$216,000,000S$341 per sq ft of gross floor area
Today · the homes on it$1,173median of 218 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

100–110 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$1,084 (9)—
2023$1,168 (4)+7.7%
2024$1,229 (5)+5.2%
2025$1,372 (3)+11.6%
2026$1,354 (3)-1.3%

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