North Park Residences
The ground under it was tendered in 2013. Both ends of that are public; nobody puts them together.
The land under North Park Residences
HDB put this parcel out to tender and names North Park Residences as what was built on it. Everything below is from that tender: the dates, the winning price, and the 5 bids that came in.
- Tender launched28 Jun 2013
- Tender closed5 Sep 20135 bids received
- Awarded9 Sep 2013North Gem Development Pte. Ltd. & FC North Gem Trustee Pte. Ltd. (as Trustee-Manager of North Gem Trust)
- Winning tenderS$1,428,880,000S$11,593 per sq m of gross floor area · S$1,077 per sq ft
- Parcel
- Yishun P3 Yishun Avenue 2 / Yishun Central 1
- Site area
- 41,085 sq m
- Lease
- 99 yrs
- Plot ratio
- 3
- Gross floor area
- 123,255 sq m
- Sold as
- Mixed
Every bid — all 5, as HDB published them
| # | Tenderer | Bid | Behind the winner |
|---|---|---|---|
| 1 | North Gem Development Pte. Ltd. & FC North Gem Trustee Pte. Ltd. (as Trustee-Manager of North Gem Trust) | S$1,428,880,000 | — |
| 2 | Far East Civil Engineering (Pte.) Limited, Far East Orchard Limited & Sekisui House, Ltd. | S$969,333,333 | S$459,546,667 · 32.2% |
| 3 | Zenlead Investments Pte. Ltd. & Zenmost Developments Pte. Ltd. | S$930,000,000 | S$498,880,000 · 34.9% |
| 4 | Sim Lian (Focus) Pte Ltd & Sim Lian (Brilliant) Pte Ltd | S$875,000,000 | S$553,880,000 · 38.8% |
| 5 | Yorkshire Investments (1) Pte. Ltd. and Yorkshire Trustee Pte. Ltd. (in its capacity as trustee of Yorkshire Mall Trust) | S$704,500,000 | S$724,380,000 · 50.7% |
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 9 Sep 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 “Northpoint City & North Park Residences”. This parcel, from tender to today · Every land sale
What has been filed there since
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
| Year | Median psf | Against the year before |
|---|---|---|
| 2021 | $1,658 (4) | — |
| 2022 | $1,728 (11) | +4.2% |
| 2023 | $1,837 (12) | +6.3% |
| 2024 | $1,915 (7) | +4.2% |
| 2025 | $1,920 (9) | +0.3% |
| 2026 | $1,675 (2) | -12.8% |
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
- Every filed transaction at North Park ResidencesThe full record — price history, floor premium, what a sale would net
- Every land sale since 1993441 URA sites and 216 from HDB, with every losing bid that was published
- Why there is no margin on this pageWhat sits between the two ends, and why none of it is published