HDB awards Tampines EC site for $422mil
The bidding for the executive condominium site at Tampines Street Sixty Two has actually gotten alloted to a joint venture involving Qingjian Realty plus Santarli Construction, which tendered the maximal proposal of $4hundred 22 million, reported the Housing and Development Board on Tuesday 3 August.
The rates works out into a land figure of $6hundred 59 psf per PR.
Nicholas , ERA Singapore’s Head of Research and Consultancy, noted in which it is the “top ground fee being spent on an exec condominium spot throughout the history regarding this sort of homes”.
Kicked off up for sale on 15April, the 23thousand 7hundred 99.2 square metre site has a maximum GFA of 59.498K square metre. The 99-year leasehold ground– which provides an optimum construction level of Sixty Three to Sixty Four meter SHD– is forecasted to offer 5hundred 90 accomodation apartments.
The bidding of the ground ended on 22July with 9 offers obtained.
Christine , Senior VP of Research & Analytics at OrangeTee & Tie, calculates the market price for the Tampines executive condo to range from $1thousand 2hundred 50 to $One thousand Three hundred psf.
“Built upon Urban Redevelopment Authority warnings, the market price for brand new ECs is curving more to $One thousand Two hundred psf in ’21, like Piermont Grand EC, which in turn got advertised at a median rates of $One thousand One hundred Fifty One psf, Provence Residence exec condo at $One thousand One hundred Fifty psf, Parc Central Residences EC at $1thousand 1hundred 73 per square foot, OLA EC and even Rivercove Residence exec condo both equally at $1,143 per square ft,” she spoke.
“Therefore, a median asking price of larger than $1thousand 2hundred per square ft for latest ECs may be break once this particular lot is opened,” Christine further mentioned.