HDB awards Tampines EC site for $422mil

The bidding for the EC plot at Tampines St Sixty Two has actually gotten rewarded to a partnership in between Qingjian Realty plus Santarli Construction, who put forward the highest value tender of $422 mil, uncovered the HDB on Tuesday 3August.

The cost figures out to a land premium of $6hundred 59 psf ppr.

Klimt Cairnhill Condo Price

Nicholas Mak, ERA SGP’s Chief of R&C, mentioned such it is the “greatest ground cost being paid for an EC spot as part of the history concerning this type of real estate”.

Opened up for sale on 15 Apr, the 23,799.2 square metre plot has a maximum GFA of 59.498K square m. The Ninety Nine years lease period ground– that provides a highest construction height of Sixty Three to Sixty Four metre Singapore Height Datum– is expected to offer 590 house flats.

The tender of the plot ceased on 22 July with nine bids collected.

Christine , Snr Vice President of Research & Analytics at OrangeTee & Tie, calculates the asking price for the Tampines exec condo to range from $1.25K to $One thousand Three hundred per sq ft.

“Formed on URA cautions, the asking price for latest ECs is inching nearer to $1,200 per sq foot current yr, just like Piermont Grand EC, which in turn was marketed at a typical price tag of $1thousand 1hundred 51 per sq foot, Provence Residence executive condo at $1.15K per sq feet, Parc Central Residences executive condominium at $1.173K per square foot, OLA EC plus Rivercove Residence executive condo both at $1thousand 1hundred 43 per square ft,” Christine stated.

“Therefore, an average asking price of above $1.2K psf for all new executive condo may be break when this particular lot is opened,” she said further.

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