HDB awards Tampines EC site for $422mil
The tender for the exec condo plot at Tampines Street Sixty Two has already been granted to a union between Qingjian Realty with Santarli Construction, that sent the strongest quote of $4hundred 22 million, shared the Housing and Development Board on Tuesday 3 August.
The amount works out to a land rate of $659 per square ft ppr.
Nicholas , ERA S’pore’s Head of Research and Consultancy, observed such it is the “highest value ground price being spent on an executive condominium spot across the background concerning this particular property”.
Opened to buy on 15 April, the 23thousand 7hundred 99.2 square m plot has a peak gross floor surface area of Fifty Nine thousand four hundred Ninety Eight sq m. The 99-year rent period ground– which includes an utmost facility altitude of Sixty Three to 64 meter SHD– is calculated to yield 590 accomodation flats.
The tender of the spot terminated on 22July with 9 offers accepted.
Christine , Senior Vice President of Research & Analytics at OrangeTee & Tie, forecasts the market price for the Tampines exec condo to extend from $1.25K to $1,300 psf.
“Built upon Urban Redevelopment Authority caveats, the selling price for current ECs is inching more to $1.2K psf current year, which include Piermont Grand exec condo, which in turn became marketed at a median value of $One thousand One hundred Fifty One psf, Provence Residence EC at $1,150 per square foot, Parc Central Residences EC at $1thousand 1hundred 73 psf, OLA exec condo plus Rivercove Residence executive condo both equally at $1thousand 1hundred 43 per square ft,” she pointed out.
“Hence, a mean selling cost of greater than $1.2K per sq ft for current executive condominiums might be broken the moment this parcel is debuted,” Christine said further.