HDB awards Tampines EC site for $422mil

The tender for the EC ground at Tampines St Sixty Two has already been rewarded to a union linking Qingjian Realty together with Santarli Construction, who sent the strongest tender of $4hundred 22 mil, communicated the HDB on Tuesday 3Aug.

The amount works out to a ground figure of $659 per sq feet per PR.

Nicholas , ERA SGP’s Head of R&C, mentioned such it is the “most impressive ground cost being paid for an executive condominium ground across the past record in this particular realty”.

The Landmark Condo Price

Introduced available for sale on 15April, the 23thousand 7hundred 99.2 sq meter spot has a max GFA of 59.498K square metre. The Ninety Nine years rental site– which comes with a total facility altitude of 63 to Sixty Four m SHD– is predicted to blossom 5hundred 90 house apartments.

The tender of the ground closed on 22July with nine proposals received.

Christine Sun, Snr Vice President of R&A at OrangeTee & Tie, projects the market price for the Tampines EC to extend from $One thousand Two hundred Fifty to $1thousand 3hundred psf.

“Based on Urban Redevelopment Authority warnings, the market price for new ECs is steering closer to $1.2K psf in 2021, just like Piermont Grand executive condominium, in which was advertised at a typical pricing of $1.151K per sq feet, Provence Residence exec condo at $1,150 per square feet, Parc Central Residences exec condominium at $1,173 per sq feet, OLA executive condo and Rivercove Residence EC both of these at $1.143K per square foot,” Christine expressed.

“For this reason, a typical asking price of over $1,200 psf for modern ECs might be broken when this parcel is released,” Christine included.

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