HDB awards Tampines EC site for $422mil

The bidding for the EC ground at Tampines St Sixty Two has recently been assigned to a joint venture linking Qingjian Realty with Santarli Construction, which filed the greatest proposal of $Four hundred Twenty Two million, exposed the Housing and Development Board on Tue 3Aug.

The rate figures out to a ground price of $Six hundred Fifty Nine per square ft per plot ratio.

Nicholas Mak, ERA Singapore’s Chief of Research and Consultancy, mentioned in which it is the “greatest land figure to happen to be purchased an executive condo site throughout the background of this particular kind of homes”.

Launched offer for sale on 15April, the 23,799.2 sq meter spot has a top gross floor space of 59.498K square metre. The 99years leasehold site– which includes a top constructing altitude of Sixty Three to 64 m S’pore Height Datum– is predicted to generate 5hundred 90 lodging flats.

The M Condo Price

The bidding of the ground concluded on 22July with nine proposals obtained.

Christine , Snr VP of Research & Analytics at OrangeTee & Tie, expects the market price for the Tampines exec condo to stretch from $1.25K to $One thousand Three hundred psf.

“Based upon Urban Redevelopment Authority cautions, the asking price for brand-new executive condominiums is inclining nearer to $1thousand 2hundred psf in ’21, which include Piermont Grand exec condominium, which in turn got retailed at an average rates of $One thousand One hundred Fifty One psf, Provence Residence exec condo at $One thousand One hundred Fifty psf, Parc Central Residences executive condominium at $1thousand 1hundred 73 psf, OLA EC plus Rivercove Residence exec condominium both of these at $1.143K per square feet,” Christine shared.

“Subsequently, a mean asking price of larger than $1,200 per square ft for new ECs may be broken anytime this particular patch is released,” Christine further mentioned.

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