HDB awards Tampines EC site for $422mil
The bidding for the exec condo site at Tampines St Sixty Two has already been alloted to a joint venture between Qingjian Realty with Santarli Construction, that sent the highest offer of $422 mil, communicated the HDB on Tuesday 3Aug.
The rate pulls off towards a land fee of $6hundred 59 psf ppr.
Nicholas , ERA SGP’s Chief of Research and Consultancy, indicated such it is the “most impressive ground rate to be spent on an EC plot throughout the history of this sort of property”.
Debuted to buy on 15Apr, the Twenty Three thousand Seven hundred Ninety Nine point Two sq meter ground has a top gross floor area of 59thousand 4hundred 98 sq m. The Ninety Nine years rent period site– which comes along with a total construction altitude of Sixty Three to 64 meter S’pore Height Datum– is forecasted to supply Five hundred Ninety home units.
The bidding of the site terminated on 22Jul with nine offers gathered.
Christine Sun, Snr VP of R&A at OrangeTee & Tie, anticipates the market price for the Tampines executive condo to extend from $1,250 to $1thousand 3hundred psf.
“Based on URA cautions, the selling cost for modern exec condo is leaning nearer to $One thousand Two hundred psf this yr, which include Piermont Grand executive condominium, which in turn was sold off at a mean rates of $One thousand One hundred Fifty One psf, Provence Residence executive condominium at $1thousand 1hundred 50 psf, Parc Central Residences executive condominium at $1,173 per sq foot, OLA exec condominium furthermore Rivercove Residence executive condo both equally at $1thousand 1hundred 43 psf,” she mentioned.
“As a result, an average asking price of over $One thousand Two hundred psf for fresh ECs could easily be break when ever this plot is introduced,” Christine said further.