HDB awards Tampines EC site for $422mil
The bidding for the EC ground at Tampines St 62 has been assigned to a association among Qingjian Realty along with Santarli Construction, who put forward the highest quote of $4hundred 22 mil, communicated the HDB on Tue 3 August.
The cost calculates towards a ground figure of $659 per square ft ppr.
Nicholas Mak, ERA SGP’s Head of R&C, noted in which it is the “highest ground figure to get purchased an executive condo ground as part of the past record of this kind of homes”.
Debuted to buy on 15 Apr, the 23thousand 7hundred 99.2 square metre plot has a max gross floor area of Fifty Nine thousand four hundred Ninety Eight square metre. The Ninety Nine years rent period plot– in which comes with a top facility elevation of Sixty Three to Sixty Four metre Singapore Height Datum– is projected to provide Five hundred Ninety home units.
The tender of the plot concluded on 22July with nine proposals received.
Christine , Snr Vice President of Research & Analytics at OrangeTee & Tie, expects the selling pricing for the Tampines EC to vary from $1.25K to $1,300 psf.
“Formed on Urban Redevelopment Authority cautions, the selling rate for all new exec condo is inclining closer to $1,200 psf in 2021, just like Piermont Grand EC, which was offered at an average amount of $1,151 per sq feet, Provence Residence executive condominium at $One thousand One hundred Fifty per sq feet, Parc Central Residences EC at $One thousand One hundred Seventy Three per sq foot, OLA EC furthermore Rivercove Residence EC both equally at $1,143 psf,” she claimed.
“Hence, an average market price of more than $1,200 per square foot for all new ECs may be breached as soon as this plot is kicked off,” Sun included.