HDB awards Tampines EC site for $422mil
The tender for the exec condominium site at Tampines St Sixty Two has been alloted to a union in between Qingjian Realty along with Santarli Construction, that filed the greatest tender of $4hundred 22 million, exposed the Housing and Development Board on Tue 3Aug.
The cost works out towards a land premium of $659 per square ft ppr.
Nicholas , ERA S’pore’s Head of Research and Consultancy, indicated in which it is the “most impressive land figure being spent on an EC site in the record with this kind of property”.
Kicked off available for sale on 15 April, the Twenty Three thousand Seven hundred Ninety Nine point Two sq m ground has a peak GFA of 59.498K sq metre. The 99-year lease period ground– that includes a total structure altitude of 63 to 64 meter SGP Height Datum– is projected to blossom 5hundred 90 house flats.
The tender of the site ended on 22July with nine proposals collected.
Christine , Senior Vice President of R&A at OrangeTee & Tie, anticipates the sales value for the Tampines EC to vary from $1,250 to $1,300 per square feet.
“Formed on URA warnings, the selling value for new ECs is steering more to $One thousand Two hundred per sq foot in 2021, which include Piermont Grand executive condo, which was retailed at a typical deal of $1,151 per square ft, Provence Residence exec condo at $1.15K psf, Parc Central Residences EC at $1.173K psf, OLA EC plus Rivercove Residence EC both equally at $One thousand One hundred Forty Three psf,” Sun pointed out.
“Hence, a mean selling price of greater than $1,200 per square foot for latest executive condominiums might be broken the minute this patch is launched,” she continued.