HDB awards Tampines EC site for $422mil
The tender for the EC ground at Tampines Street Sixty Two has recently gotten granted to a joint venture involving Qingjian Realty along with Santarli Construction, who tendered the strongest tender of $422 million, disclosed the Housing and Development Board on Tuesday 3August.
The rate works out to a ground figure of $6hundred 59 per square foot per PR.
Nicholas Mak, ERA Singapore’s Chief of R&C, indicated that it is the “maximal land cost to be paid for an EC spot as part of the record regarding this sort of real estate”.
Kicked off procurable on 15April, the 23thousand 7hundred 99.2 sq m site has an utmost gross floor area of 59thousand 4hundred 98 sq meter. The 99 years rent period plot– that features a top structure level of Sixty Three to Sixty Four meter SHD– is predicted to provide 5hundred 90 lodging flats.
The tender of the plot ceased on 22 Jul with nine bids collected.
Christine , Snr VP of Research & Analytics at OrangeTee & Tie, anticipates the market price for the Tampines executive condominium to range from $1.25K to $1thousand 3hundred psf.
“Based upon Urban Redevelopment Authority warnings, the market price for modern exec condo is curving closer to $1,200 per sq feet this year, such as Piermont Grand executive condominium, which in turn was eventually retailed at a median price of $1,151 psf, Provence Residence EC at $1thousand 1hundred 50 psf, Parc Central Residences EC at $One thousand One hundred Seventy Three per sq feet, OLA EC plus Rivercove Residence exec condominium both of these at $One thousand One hundred Forty Three psf,” she spoke.
“Consequently, an average market price of above $1,200 psf for all-new ECs may be break at the time this particular land is launched,” Christine beefed up.