HDB awards Tampines EC site for $422mil
The bidding for the exec condominium site at Tampines Street Sixty Two has already gotten assigned to a joint venture in between Qingjian Realty and Santarli Construction, in which committed the highest quote of $422 mil, exposed the HDB on Tuesday 3Aug.
The cost figures out into a ground fee of $Six hundred Fifty Nine psf ppr.
Nicholas , ERA Singapore’s Head of R&C, considered such it is the “top ground premium being purchased an exec condominium site throughout the history concerning this form of property”.
Debuted available for sale on 15April, the 23,799.2 square meter ground has a max GFA of 59,498 square meter. The 99yrs rental site– that comes along with a highest structure altitude of 63 to Sixty Four metre SHD– is forecasted to produce Five hundred Ninety accomodation units.
The tender of the spot closed on 22 Jul with 9 tenders obtained.
Christine , Senior Vice President of R&A at OrangeTee & Tie, forecasts the market price for the Tampines executive condominium to vary from $One thousand Two hundred Fifty to $1thousand 3hundred per sq feet.
“Based upon Urban Redevelopment Authority cautions, the selling amount for current exec condominiums is curving closer to $1.2K psf in 2K21, namely Piermont Grand EC, in which became offered at a mean value of $1.151K psf, Provence Residence executive condominium at $1,150 per square feet, Parc Central Residences exec condo at $1,173 psf, OLA EC as well as Rivercove Residence EC both equally at $1,143 per sq foot,” she pointed out.
“Hence, an average market price of more than $One thousand Two hundred psf for recent executive condo may be broken when this land is opened,” she said further.