The Housing and Development Board (HDB) has put up for sale a new executive condominium (EC) site on Tampines Street 95, which can accommodate approximately 560 housing units.
Location Plan
Details of Land Parcel
This site is on the confirmed list from the government land sales programme for the second half of 2024, and the tender is set to close on October 24.
Despite developers becoming more cautious and risk-averse with private housing sites, recent EC land tenders have attracted strong interest and competitive bids. Market analysts predict that the Tampines site will receive between four and eight bids, with price estimates ranging from S$650 to S$750 per square foot per plot ratio (psf ppr).
Earlier this month, four bids were received for an EC site at Jalan Loyang Besar near Pasir Ris. The site was awarded to a joint venture between CNQC International (the parent company of Qingjian Realty), China Communications Construction Company, and ZACD for S$557 million, or S$729 psf ppr.
This bid of S$729 psf ppr set a new record for EC land rates, surpassing the previous high of S$721 psf ppr for a parcel on Tampines Street 62, which was sold to Sim Lian.
The appeal of this site is further enhanced by its proximity to the Tampines West MRT station, which is within walking distance. Additionally, several primary schools are within a 1km radius, including Junyuan Primary School, Red Swastika School, St. Anthony’s Canossian Primary School, St. Hilda’s Primary School, Tampines Primary School, and Yu Neng Primary School. Tampines Polytechnic is also within walking distance. For recreation, the Safra Clubhouse (Tampines) is nearby, and the Tampines Round Market and Food Centre are within reach.
EC projects are highly popular among homebuyers due to their competitive pricing compared to private condominiums and the ease of upgrading for HDB upgraders. These factors contribute to the strong demand for ECs in the market, and you should take serious consideration if you are among the privileged few who can purchase a brand-new Executive Condo.
For more information on upcoming and past executive condominiums, readers can access the List of Executive Condominiums here.
