HDB awards Tampines EC site for $422mil
The bidding for the EC plot at Tampines St 62 has recently been rewarded to a joint venture amongst Qingjian Realty together with Santarli Construction, in which tendered the maximal quote of $4hundred 22 million, exposed the Housing and Development Board on Tue 3 August.
The price figures out into a ground premium of $659 psf per plot ratio.
Nicholas , ERA Singapore’s Head of Research and Consultancy, indicated such it is the “most impressive ground price to happen to be paid for an exec condo site as part of the record with this particular homes”.
Kicked off available for sale on 15Apr, the 23,799.2 sq metre plot has a total gross floor surface area of 59thousand 4hundred 98 sq metre. The 99years rental site– in which provides a highest construction height of Sixty Three to Sixty Four m Singapore Height Datum– is expected to blossom Five hundred Ninety accomodation flats.
The tender of the plot terminated on 22Jul with 9 offers gathered.
Christine Sun, Snr VP of R&A at OrangeTee & Tie, anticipates the market price for the Tampines EC to vary from $1thousand 2hundred 50 to $1,300 psf.
“Based on Urban Redevelopment Authority caveats, the selling cost for brand-new executive condominiums is leaning more to $1,200 per square feet present year, for example, Piermont Grand exec condominium, in which became transacted at a mean price of $1.151K per square foot, Provence Residence EC at $1thousand 1hundred 50 per square foot, Parc Central Residences EC at $1,173 psf, OLA EC furthermore Rivercove Residence EC both at $1,143 per sq foot,” Sun claimed.
“For that reason, a median selling deal of above $1,200 per square foot for all new executive condo might be broken when this land is introduced,” she added.