HDB awards Tampines EC site for $422mil
The bidding for the EC ground at Tampines Street Sixty Two has been rewarded to a joint venture involving Qingjian Realty and Santarli Construction, who proposed the strongest tender of $4hundred 22 mil, announced the Housing and Development Board on Tuesday 3 August.
The pricing calculates to a land cost of $659 per square feet per plot ratio.
Nicholas , ERA S’pore’s Head of Research and Consultancy, indicated such it is the “maximal ground premium to be spent on an EC spot in the record in this sort of homes”.
Opened available on 15Apr, the 23thousand 7hundred 99.2 square m plot has a total GFA of 59,498 square metre. The 99 years leasehold spot– which provides a max structure height of 63 to 64 m SHD– is expected to generate Five hundred Ninety accomodation flats.
The tender of the ground wrapped up on 22Jul with nine tenders gathered.
Christine Sun, Senior VP of R&A at OrangeTee & Tie, expects the selling pricing for the Tampines executive condominium to range from $1,250 to $1,300 psf.
“Based upon URA cautions, the selling cost for modern ECs is curving nearer to $One thousand Two hundred psf the present year, which include Piermont Grand executive condo, in which got transacted at a median cost of $One thousand One hundred Fifty One psf, Provence Residence exec condominium at $1.15K per square foot, Parc Central Residences executive condominium at $1,173 per sq ft, OLA EC furthermore Rivercove Residence EC both of these at $One thousand One hundred Forty Three per square feet,” Christine mentioned.
“For that reason, a median selling amount of over $1.2K psf for fresh executive condo may be break when this patch is started,” she further mentioned.