Tender Ec Site Tampines St 95 Launched
Housing and Development Board (HDB) has recently launched a tender for an executive condo (EC) site located at Tampines Street 95, as part of the 2H2024 Government Land Sales (GLS) programme. This site was previously listed on the Reserve List in the 2H2023 GLS programme but was not triggered for sale then.
Covering an area of 242,190 sq ft and with a gross plot ratio of 2.5 under the Master Plan, the 99-year leasehold EC site is expected to house approximately 560 new residential units. It is also strategically located within 1km of Red Swastika School and St Hilda’s Primary School, and is in close proximity to Tampines West MRT Station on the Downtown Line and Temasek Polytechnic.
In-depth data on all ECs, including the average profit at 5 and 10 years, can be found on our website.
This EC site is situated near a mixed-use commercial and residential site, also along Tampines Street 94, which was launched in June and is currently open for tender. The site spans 252,989 sq ft with a plot ratio of 2.6 and is expected to yield 585 residential units with a commercial gross floor area of 112,980 sq ft.
According to Huttons Asia CEO Mark Yip, bids for the EC site along Tampines Street 95 may be influenced by the tender results of the mixed-use site at Tampines Street 94. He believes that to remain competitive, there must be a significant price gap between the two sites. It is estimated that there may be up to five bidders for the EC site, with the top bid reaching $650 to $700 psf per plot ratio.
Interested parties can submit their bids for the EC site on Tampines Street 95 until October 24.
Rewritten: The sale of Norwood Grand, a non-executive condominium, marks the first GLS in Woodlands since 2011. The previous sale of a plot at Woodlands Avenue 2 and Rosewood Drive resulted in the development of Parc Rosewood, a 689-unit condominium, at a rate of $367 per square foot per plot ratio. With the addition of Norwood Grand, there is renewed interest in the Woodlands area for such developments.