The bidding for the executive condominium plot at Tampines St Sixty Two has recently gotten alloted to a association in between Qingjian Realty with Santarli Construction, in which submitted the most impressive quote of $4hundred 22 mil, published the HDB on Tuesday 3Aug.

The rates pulls off to a ground fee of $Six hundred Fifty Nine per sq ft ppr.

Nicholas , ERA S’pore’s Chief of R&C, considered that it is the “maximal land price to be paid for an EC ground as part of the history concerning this kind of housing”.

Commenced to buy on 15Apr, the 23,799.2 sq metre plot has an utmost gross floor surface area of Fifty Nine thousand four hundred Ninety Eight sq m. The 99 years rental site– in which comes along with a top building height of Sixty Three to Sixty Four m SHD– is anticipated to blossom 5hundred 90 housing flats.

The bidding of the spot concluded on 22Jul with nine offers obtained.

Christine , Snr Vice President of R&A at OrangeTee & Tie, projects the market price for the Tampines executive condominium to extend from $1thousand 2hundred 50 to $One thousand Three hundred psf.

“Based on Urban Redevelopment Authority warnings, the market price for modern executive condominiums is inching more to $1.2K psf current year, for example, Piermont Grand EC, which got transacted at a median amount of $1thousand 1hundred 51 psf, Provence Residence exec condo at $1,150 psf, Parc Central Residences exec condo at $One thousand One hundred Seventy Three psf, OLA EC as well as Rivercove Residence EC both at $One thousand One hundred Forty Three psf,” she mentioned.

“Therefore, a mean asking price of more than $1,200 psf for brand-new ECs could easily be break when this particular plot is kicked off,” Christine included.