HDB awards Tampines EC site for $422mil
The bidding for the EC ground at Tampines Street Sixty Two has been allocated to a joint venture among Qingjian Realty and Santarli Construction, who committed the largest quote of $4hundred 22 million, declared the Housing and Development Board on Tuesday 3August.
The price figures out into a ground premium of $Six hundred Fifty Nine psf per plot ratio.
Nicholas , ERA SGP’s Head of Research and Consultancy, mentioned in which it is the “most impressive land premium to happen to be purchased an executive condo plot across the past record of this particular real estate”.
Opened offer for sale on 15Apr, the 23,799.2 square meter site has a highest GFA of Fifty Nine thousand four hundred Ninety Eight square m. The 99yrs lease period ground– which provides a highest facility height of Sixty Three to Sixty Four metre S’pore Height Datum– is predicted to blossom 5hundred 90 lodging flats.
The bidding of the site concluded on 22Jul with 9 bids earned.
Christine , Senior VP of R&A at OrangeTee & Tie, predicts the market price for the Tampines executive condominium to range from $1thousand 2hundred 50 to $One thousand Three hundred psf.
“Based on URA warnings, the asking price for new ECs is inclining nearer to $1,200 psf in ’21, just like Piermont Grand executive condominium, which was eventually sold off at a typical amount of $1thousand 1hundred 51 per sq foot, Provence Residence EC at $1.15K psf, Parc Central Residences EC at $1,173 psf, OLA EC and Rivercove Residence exec condo both of these at $One thousand One hundred Forty Three psf,” Christine announced.
“Because of this, a typical selling pricing of more than $1.2K per sq feet for fresh executive condo may be breached anytime this plot is released,” Sun further mentioned.