HDB awards Tampines EC site for $422mil
The tender for the EC plot at Tampines Street 62 has already gotten granted to a partnership amongst Qingjian Realty plus Santarli Construction, which proposed the maximal tender of $Four hundred Twenty Two million, exposed the Housing and Development Board on Tuesday 3Aug.
The rate pulls off to a ground premium of $6hundred 59 psf per plot ratio.
Nicholas , ERA Singapore’s Chief of Research and Consultancy, documented that it is the “best ground price to get spent on an executive condominium plot throughout the history in this sort of realty”.
Commenced to buy on 15 Apr, the Twenty Three thousand Seven hundred Ninety Nine point Two sq m plot has a top gross floor area of Fifty Nine thousand four hundred Ninety Eight sq m. The 99-year lease period spot– in which comes along with a maximum structure altitude of 63 to Sixty Four meter SHD– is forecasted to yield 590 home flats.
The tender of the ground closed on 22July with 9 tenders obtained.
Christine Sun, Senior VP of R&A at OrangeTee & Tie, predicts the sales rates for the Tampines exec condominium to stretch from $One thousand Two hundred Fifty to $One thousand Three hundred psf.
“Formed on Urban Redevelopment Authority caveats, the selling rates for brand new ECs is inclining closer to $1,200 psf in 2021, just like Piermont Grand EC, which got transacted at a typical price tag of $1,151 psf, Provence Residence EC at $1.15K psf, Parc Central Residences EC at $1thousand 1hundred 73 psf, OLA EC and Rivercove Residence EC both at $1thousand 1hundred 43 psf,” she mentioned.
“Consequently, a typical market price of above $1thousand 2hundred per sq ft for current exec condo may possibly be breached anytime this particular plot is introduced,” Sun replied.