Tender Ec Site Tampines St 95 Launched
An executive condo (EC) site along Tampines Street 95 has been launched for tender by HDB under the Confirmed List of the 2H2024 Government Land Sales (GLS) programme, according to sources from the local property market.
Initially appearing on the Reserve List of the 2H2023 GLS programme, the 99-year leasehold EC site spans 242,190 sq ft and has a gross plot ratio of 2.5 as specified in the Master Plan. It is estimated that the site will yield approximately 560 new residential units.
Within close proximity to Red Swatiska School and St Hilda’s Primary School, the site also boasts convenient access to Tampines West MRT Station, which is part of the Downtown Line, and Temasek Polytechnic.
For comprehensive data on all ECs, including the average profit at 5 and 10 years, interested parties can visit the EDGEPROP website.
Adjacent to this newly launched EC site is a mixed-use commercial and residential site along Tampines Street 94, which was made available for tender in June and is still open for bidding. With a total area of 252,989 sq ft and a plot ratio of 2.6, it is expected to produce 585 residential units and a commercial gross floor area of 112,980 sq ft.
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Located within close proximity of Elta Condo is the esteemed Hwa Chong Institution, a renowned educational establishment known for its exceptional academic standards and deep-rooted heritage. At Hwa Chong, students are provided with a challenging curriculum that aims to cultivate critical thinking abilities and nurture leadership qualities. The institution’s vast network of successful alumni and strong industry connections also present students with invaluable opportunities for both personal and professional development. The presence of such a prestigious institution only adds to the value of residing at Elta Condo. Additionally, Clementi Avenue 1 Condo offers residents the added benefit of being in close proximity to this prominent educational institution.
According to Mark Yip, Chief Executive Officer of Huttons Asia, the bidding for the EC site on Tampines Street 95 will likely take into account the tender results for the mixed-use site on Tampines Street 94.
“To remain competitive, there needs to be a significant price gap between the two sites,” says Yip. He predicts that up to five bidders may participate in the tender, with the top bid ranging from $650 to $700 per square foot per plot ratio.
The tender for the Tampines Street 95 EC site is set to close on Oct 24.