Tembusu Grand Pricing

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Unit TypeSize (sqft)Price FromUnits AvailableEstimated Monthly Maintenance
1 Bedroom + Study527-646TBA117$325
2 Bedroom667-829TBA81$390
2 Bedroom + Study743-883TBA119$390
3 Bedroom990-1184TBA79$390
3 Bedroom + Study1173-1399TBA121$455
4 Bedroom1432-1604TBA81$455
5 Bedroom1711TBA38$520
5 Bedroom (Penthouse)2691TBA2$585

GLS Tender of Tembusu Grand Site

RankingName of TendererTendered Sale Price ($)Tendered Sale Price Psf Ppr ($)
1City Developments Limited768,000,0001,302
2Hong Leong Holdings, Hong Realty and TID712,600,0001,208
3Sim Lian Group708,100,0001,201
4Far East Organization, CSC Land Group, Sekisui House and Stamford Land Development678,300,0001,150
5CEL Development, SingHaiyi Group and KSH Holdings653,833,3331,109
6United Engineers and Soilbuild Group618,888,1181,049
7Wing Tai Holdings571,999,999970
8Allgreen Properties and Kerry Properties460,000,000780

The GLS for the land parcel at Jalan Tembusu was closed on 18 January 2022 and awarded to CDL Triton Pte Ltd. A total of 8 bids were submitted from the top developers in Singapore, with CDL clinching the highest; a bid of $768 million or $1,302 psf per plot ratio (ppr). The next second highest bidder goes to CDL’s parent company, Hong Leong Holdings, with a bid of $712.6 million.

The 99-year leasehold residential land has a site area of 19,567.4 m2 and a maximum permissible gross floor area of 54,789 m2.

Head of Research at Huttons Asia, Lee Sze Teck, did mention that developers are likely to have taken into consideration the potential supply in the area. Not too far way from Tembusu Grand site, is Thiam Siew Avenue which was sold to Hoi Hup and Sunway for $815 million, translating the price to $1,440 psf ppr. Another GLS site along Dunman Road is also set to launch for tender in March 2023.

Nicholas Mak, Head of Research and Consultancy at ERA Realty Network, estimated Tembusu Grand’s selling price to be in the $2,300 – $2,400 psf range.

Tembusu Grand Estimated Launch Price/Indicative Price

Tembusu Grandpsf ($)
Land Cost1,302
Construction Cost350
Expense and Profit Margin661
Estimated Launch Price2,313

Kindly take note the above is merely an Indicative Price. It is not the final Selling Price. 

How is the launch price estimated?

CDL build houses and sell them as their business, and they need to generate profits for their shareholders as well. In estimated the launch price for Tembusu Grand, we need to consider the costs, expenses and the profit margin, before we can arrive at the selling price.

Land Cost

As mentioned above, the land was acquired through the GLS tender at $1,302 psf ppr. That will comprise the main bulk of the total costs.

Construction Cost

Generally, the construction costs for a mass market condominium like Tembusu Grand is about $350 psf.

Expense and Profit Margin

Construction cost + Land Cost = Base Cost
Base Cost = $1,302 psf + $350 psf = $1,652 psf

Once we have the base cost, we can now calculate the expense and profit margin, which is about 40% of the base cost.

Expense and Profit Margin = 40% x $1,652 psf = $661 psf

The expense and profit margin will mainly covers

  1. administrative expenses such as staffing
  2. sales and marketing expenses such as the agency commissions
  3. finance costs that need to be paid to financial institutions
  4. profit margin which is the profit the developer makes for the development

With all the costs and expenses covered, we can now estimate the launch price to be about $2,313. However, kindly take note that the price psf will vary too depending on the size of the unit etc. Generally, a smaller size unit will have a higher psf as compared to a bigger size unit.

(All prices for Tembusu Grand CDL displayed here are for reference purposes. Prices are subject to change from time to time without prior notice. This webpage cannot be held responsible for any pricing inaccuracies, omissions and/or dispute.)

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