HDB awards Tampines EC site for $422mil
The bidding for the executive condominium ground at Tampines St Sixty Two has gotten granted to a association in between Qingjian Realty along with Santarli Construction, in which put forward the maximal quote of $422 million, shared the HDB on Tuesday 3 Aug.
The deal calculates to a ground price of $659 psf ppr.
Nicholas , ERA S’pore’s Head of R&C, recorded in which it is the “most impressive ground figure to happen to be purchased an exec condominium spot as part of the past record in this kind of property”.
Kicked off up for sale on 15Apr, the 23,799.2 sq m site has a highest GFA of 59thousand 4hundred 98 sq m. The 99yrs rent period spot– in which comes with a top facility elevation of 63 to Sixty Four meter SHD– is forecasted to supply 590 accomodation units.
The tender of the ground terminated on 22July with 9 proposals gathered.
Christine , Senior Vice President of Research & Analytics at OrangeTee & Tie, projects the market price for the Tampines EC to range from $1.25K to $One thousand Three hundred psf.
“Built upon URA cautions, the asking price for modern ECs is leaning more to $1thousand 2hundred per sq ft in 2021, such as Piermont Grand executive condo, in which got sold at a mean price tag of $1.151K psf, Provence Residence EC at $One thousand One hundred Fifty psf, Parc Central Residences EC at $1,173 per sq foot, OLA exec condominium as well as Rivercove Residence EC both at $1thousand 1hundred 43 psf,” she mentioned.
“For these reasons, an average selling value of larger than $One thousand Two hundred per square foot for current exec condominiums may be breached when this particular land is introduced,” Sun included.