Tender for Tampines EC by Qingjian Realty and Santarli Construction Highest Bid
- March 31, 2022
In response to the booming demand for luxury condos, HDB has released two new sites in Tampines. The first plot is located in Sengkang and is available for sale through a public tender. The second site in Tampines Street 62 EC is available for application and will be put up for tender once developers have expressed interest in it. Both sites are expected to yield more than one hundred residential units.
HDB launched the tender for executive condominium in Tampines and Sengkang. Both sites are under the reserve list, which means they will be put up for tender only if developers express interest in them. The developer’s price is also set to set a new record. The land rate for this site is $659 per sq ft, which is the highest ever for EC sites.
This is the second executive condominium site to be released by HDB in the same year. The other is located at Tampines Street 62. The price for the second half of 2019 GLS programme is estimated at about $1250 per sq ft. The price of the executive condos will depend on the location. It will have a prime location. The price of the units will be determined by the market demand.
The HDB has opened the tender for an Executive Condominium site in Tampines. The sites are located at Fernvale Lane and Tampines Street 62. They are both in the Confirmed and Reserve List of the Second Half of 2019 GLS Programme. The developers can expect an average selling price of $1250 per square foot for these condos. The site is expected to yield around 1,100 residents.
A joint venture, consisting of Qingjian Realty and Santarli Construction, has submitted a bid of $422 million for the site in Tampines. This amount works out to about $659 per square foot for the entire plot ratio. The government’s Additional Buyers’ Stamp Duty is not affecting developers’ prices in the tender, but it will affect their profits. The highest bid is submitted by Qingjian Realty and Santarli Construction
The price for this site is S$580 per square foot, per plot ratio by Qingjian Realty and Santarli Construction. As the price of ECs rises, the property market is experiencing a downturn. As such, developers should take advantage of the current downturn in the economy. With this market downturn, more developers will look to develop executive condos in Tampines. The increased land prices have also impacted the market.
The EC site in Tampines will be a new residential development that is located next to a major shopping center. The development is also close to the future Tampines Eco Green Park. The new EC will have a swimming pool, fitness centre, and public service centre. A public transport hub is also nearby. While the EC will be close to these amenities, the project may still be too expensive for many locals.
The Executive Condominum Housing Development Tampines St 62 Tender is scheduled to end on 22 July. The development is located in a mature estate with a large pot of upgraders. The parcel has been zoned residential with a commercial component on the first floor. The total number of residential units in the development is about 600. The tender closes on 22 July.
The site is a 99-year leasehold plot with a maximum gross floor area of 59,498 sq ft. It could yield up to 590 residential units, with a height of 63 to 64 m SHD. The executive condominium will be near parks and green spaces. The last one with 700 residential units in Tampines was Parc Central Residences, which was launched in January 2021. The developer sold 543 units in four months.
This executive condominum housing development is a public-private hybrid. The land parcel is located in District 18 and is expected to return five hundred and eighty residential units. It is near the future Integrated Transport Centre and Tampines North MRT station. The project has been a long time coming, so get ready for the excitement. With so many options available to residents, the EC housing market in Singapore is growing.
A joint venture led by Qingjian Realty and Santarlic Construction has won the tender for an executive condominium site at Tampines Street 62. This EC ground has the potential to produce as many as 590 dwelling units, and the project is expected to launch in the second half of 2022. The project will be built near the Courts Megamart, Ikea, Giant, and a new upcoming mall. The development will be a mixed-use project, with commercial and industrial components.
The winning bid of $422 million was placed by a joint venture between Qingjian and Santarli Realty. This bid was 1.4 percent higher than the second-placed bid of $416.3 million. The project represents the highest land rate for EC sites in Singapore’s history and broke the previous record of $603 psf ppr.
The development is part Tengah Plantation EC of Tampines Town Centre, a new urban community in Tampines. The project will consist of five towers that will be able to house 590 units. The project is being developed by Qingjian Realty and Santarlico, which have a history of building quality homes in Singapore. The developer won the tender by bidding at a price of $658 psf ppr, a margin of almost 30 percent higher than the second-placed bidder.