HDB awards Tampines EC site for $422mil
The bidding for the exec condominium site at Tampines Street 62 has actually been alloted to a union involving Qingjian Realty and Santarli Construction, who sent the strongest bid of $422 mil, exposed the HDB on Tue 3 August.
The rate figures out to a ground fee of $Six hundred Fifty Nine psf per PR.
Nicholas , ERA Singapore’s Head of R&C, observed in which it is the “highest land figure being purchased an exec condo site as part of the history in this sort of realty”.
Commenced procurable on 15 Apr, the 23,799.2 square meter ground has an optimum gross floor surface space of 59.498K sq m. The 99years lease period spot– that comes with a highest facility height of Sixty Three to 64 metre S’pore Height Datum– is forecasted to blossom 5hundred 90 home flats.
The bidding of the plot ceased on 22Jul with nine quotes accepted.
Christine Sun, Senior Vice President of Research & Analytics at OrangeTee & Tie, projects the sales pricing for the Tampines EC to fluctuate from $1.25K to $1thousand 3hundred per square ft.
“Built upon URA cautions, the selling rates for brand-new ECs is leaning more to $1.2K per sq feet current year, just like Piermont Grand EC, which in turn became sold off at a typical price tag of $1.151K per square foot, Provence Residence executive condominium at $One thousand One hundred Fifty per sq ft, Parc Central Residences executive condo at $1thousand 1hundred 73 per square feet, OLA exec condominium as well as Rivercove Residence exec condo both at $1,143 psf,” Sun spoke.
“Because of this, a mean selling price tag of beyond $1,200 per sq feet for current ECs might be broken the minute this plot is released,” Sun beefed up.