HDB awards Tampines EC site for $422mil
The tender for the EC spot at Tampines Street Sixty Two has already been allocated to a joint venture linking Qingjian Realty plus Santarli Construction, in which filed the largest offer of $4hundred 22 million, announced the HDB on Tue 3 August.
The value works out towards a ground premium of $Six hundred Fifty Nine psf per plot ratio.
Nicholas , ERA S’pore’s Head of R&C, recorded such it is the “highest value land figure being spent on an EC ground across the past record of this sort of housing”.
Debuted to buy on 15Apr, the 23,799.2 square meter plot has an optimum GFA of Fifty Nine thousand four hundred Ninety Eight sq metre. The 99years rent period site– in which comes along with an utmost property elevation of 63 to Sixty Four m S’pore Height Datum– is anticipated to yield 5hundred 90 accomodation flats.
The bidding of the plot concluded on 22Jul with nine proposals accepted.
Christine , Snr Vice President of R&A at OrangeTee & Tie, expects the selling price tag for the Tampines exec condo to stretch from $1.25K to $1,300 per sq ft.
“Based on Urban Redevelopment Authority caveats, the asking price for brand new ECs is leaning more to $1thousand 2hundred per sq ft this yr, for instance, Piermont Grand exec condominium, which in turn was advertised at a mean rate of $One thousand One hundred Fifty One psf, Provence Residence EC at $1thousand 1hundred 50 per sq foot, Parc Central Residences executive condo at $1thousand 1hundred 73 per square feet, OLA EC and even Rivercove Residence executive condominium both equally at $1,143 psf,” she stated.
“Consequently, a median asking price of beyond $One thousand Two hundred per square ft for current exec condo might be breached anytime this particular lot is debuted,” she continued.