HDB awards Tampines EC site for $422mil

The bidding for the executive condominium spot at Tampines Street Sixty Two has actually gotten granted to a alliance of Qingjian Realty plus Santarli Construction, that sent the most impressive proposal of $422 mil, shared the Housing and Development Board on Tuesday 3August.

Canninghill Piers Condo Price

The price works out into a land fee of $Six hundred Fifty Nine per sq ft ppr.

Nicholas Mak, ERA Singapore’s Chief of Research and Consultancy, indicated such it is the “highest value ground figure being purchased an EC plot as part of the record in this kind of property”.

Started available for sale on 15Apr, the 23,799.2 sq metre plot has a max GFA of 59,498 sq meter. The 99-year rent period site– in which provides a peak constructing altitude of 63 to Sixty Four m SHD– is anticipated to supply Five hundred Ninety home apartments.

The tender of the ground concluded on 22July with nine offers collected.

Christine , Snr VP of R&A at OrangeTee & Tie, predicts the sales deal for the Tampines EC to vary from $One thousand Two hundred Fifty to $1,300 per sq ft.

“Based on Urban Redevelopment Authority warnings, the asking price for new ECs is inclining nearer to $1.2K psf in 2K21, which include Piermont Grand EC, which was sold off at a typical amount of $1,151 psf, Provence Residence executive condominium at $1.15K psf, Parc Central Residences executive condominium at $1thousand 1hundred 73 per square ft, OLA EC and Rivercove Residence executive condominium both at $One thousand One hundred Forty Three psf,” Sun claimed.

“Due to this fact, a median asking price of greater than $1thousand 2hundred psf for recent exec condominiums might be breached the moment this patch is debuted,” she added.

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