HDB has launched a tender for two new executive condominium sites. The first site is in Sengkang and will be sold to the highest bidder through a public tender. The second site in Tampines Street 62 will be put up for a reserved list and will be put up for a public tender when developers show interest in the property. Both sites will yield up to 1,100 residential units.
The second site is at Tampines St 62. It is part of district 18, near the Citylife and Trilliant condominiums. It is also close to the future Integrated Transport Centre and will have direct access to the Cross Island Line. There are a total of 375 units available for purchase. The price for the first phase is S$425 per square foot.
The prime location of the Tampines EC site is highly sought after. A recent BTO in the area resulted in a record top bid of S$422 million or S$659 per square foot (psf ppr). The newest executive condominium will be ready for sale in 2023, which could mean more developer interest in the site. The price of the site is estimated to be between S$580 and S$630 per square foot per plot ratio, which means that the developer can expect to receive a few hundred bids for the site.
HDB launched the public tender for two executive condominium sites in Tampines on Thursday. These are the second and third executive condominium sites to be released in 2021. The first site was released on the reserve list, meaning that it would be put up for tender if developers express interest in the project. The total price of the two sites is estimated to be between S$580 and S$630 per square foot, and the bid could reach up to 10 developers.
HDB’s latest tender for the executive condominium site in Tampines has surpassed the previous record in the past few years. The top bid of S$42 million, or S$659 psf ppr, exceeded all predictions of most property consultants. Both plots are expected to provide a high-quality residence for residents. The first phase of the project will be completed in the middle of 2021.
The first phase of the HDB’s executive condominium site tender will yield 375 units. The second phase will see the launch of the executive condo project in 2020. The EC site is expected to yield around 750 units. After the first phase, the second phase will have up to 450 units. The last two phases will be completed by 2022. The next EC sites will be launched in the middle of the year.
A joint venture comprising Qingjian Realty and Santarli Construction has won the EC site at Tampines Street 62. Their $422 million bid is the highest ever for an EC plot in Singapore, breaking the previous record of $603 psf ppr. This land rate is also considered the highest in the country, as there are no other EC sites in Singapore that are higher than this.
Although it is not the first EC in Singapore, it is a key regional centre and presents numerous opportunities for home-owners and developers. Parc Central Residences, which is the latest development to be released at Tampines, is a good example of a successful project in this neighbourhood. It is also near MRT stations and provides convenient access to public transportation. However, it has its drawbacks as well.
The Tender for Tampines EC closed on the 22nd of July and the selling price could be between S$1,250 and S$1,300 per square foot. Recent developments in the area have sold for more than S$1,300 psf. The median selling price of Tampines Trilliant was just over $12,500 per square foot. Citylife @ Tung Hwa-Singapore’s EC site sold for S$1,140 psf.
The Tampines EC site was recently up for tender. The leading bid of S$422 million was received by Santarli Realty. Compared to other ECs, this bid was higher than the previous record of $590 psf ppr, which was set by Tengah Garden Walk in 2011. The average bid for Tampines EC was S$1,250 psf, so the price is higher than other EC sites in Singapore.
The site has been hotly contested for the last few months. The lowest bid is S$556 psf, and the top bid is S$659 psf ppr. This means that if the top two bidder is successful, the EC land rate could hit an average of S$1,200 psf. And the site is located at Tampines Street 62, which is a prime area in the city.
The Housing & Development Board has released a public tender for the executive condominium site at Tampines Street 62. The land is part of the Reserve List for the second half of the GLS programme and will close for bid evaluation in July 2021. The highest bid could be between $550 and $600 psf ppr. The EC is close to town services and is in a fully developed estate.
The tender for Tampines Street 62 (Parcel B) will close in July 2021. The successful bidder will be required to install EV charging points, water treatment facilities and green spaces. It is located within one kilometre from Pasir Ris MRT station. Nearby recreational amenities include Canninghill Piers and the Tampines Eco Green Park. The EC land will be developed along district 18 in Singapore.
There are a few things to know about the tender. The EC site is larger than most private condominiums and it is estimated to yield around 700 dwelling units. The EC site is near the Tampines North Boulevard Park and the Pasir Ris MRT station. It is located at a strategic location that will be attractive to future investors and tenants. The site is surrounded by nature parks, including a nature park and an ecological green space.
The property is part of the 1st Regional Centre, a mature estate that is going through a renaissance. In 2030, the Paya Lebar Airbase will move to Tampines St 86. The Parc Central Residences on Tampines St. 86 are 86% sold and have achieved an average selling price of $1,170 psf. The same project’s neighbour, Piermont Grand, sold at an average price of $1,174 ppsf.
Upon completion, the Tampines EC will feature a variety of amenities. It is close to the Tampines Town MRT station and the Pasir Ris MRT. There are also several parks nearby, including the Rivercove Park and the Tampines Eco Green Park. If you’re looking for a home in Singapore, it’s important to find the right one for you.