HDB awards Tampines EC site for $422mil

The bidding for the EC spot at Tampines St 62 has been rewarded to a partnership of Qingjian Realty plus Santarli Construction, who handed in the highest offer of $4hundred 22 million, reported the Housing and Development Board on Tuesday 3Aug.

The rate figures out towards a land cost of $659 per sq feet per PR.

Nicholas , ERA Singapore’s Chief of R&C, considered that it is the “top land figure being paid for an executive condominium spot in the record concerning this sort of real estate”.

Opened offer for sale on 15April, the 23thousand 7hundred 99.2 square m site has a highest GFA of 59.498K sq metre. The 99 years lease period site– which includes an optimum structure height of 63 to Sixty Four meter S’pore Height Datum– is anticipated to supply 5hundred 90 lodging units.

The bidding of the ground ceased on 22Jul with nine tenders received.

Perfect Ten Condo Price

Christine , Senior Vice President of R&A at OrangeTee & Tie, predicts the selling deal for the Tampines EC to fluctuate from $1,250 to $1thousand 3hundred per square ft.

“Formed on URA cautions, the asking price for brand-new exec condo is curving more to $One thousand Two hundred psf in 2021, namely Piermont Grand EC, in which was transacted at a typical pricing of $1.151K per square feet, Provence Residence EC at $One thousand One hundred Fifty per sq feet, Parc Central Residences exec condo at $1thousand 1hundred 73 psf, OLA EC and even Rivercove Residence executive condo both equally at $1,143 per sq foot,” Christine pointed out.

“Hence, a mean asking price of above $1thousand 2hundred psf for current ECs may possibly be breached at the time this particular lot is commenced,” she continued.

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