Tengah and Tampines launch executive condominiums for sale
HDB offers more information on both parcels of land, and electronic developer’s packs containing the details and conditions for tendering for both sites can be purchased on the URA site.
Experts expect that Plantation Close will also attract 7-10 bidders. The highest bid price is expected to be between S$670 and S$700 psf. The current income ceilings and maximum loan amounts will influence the price range that potential buyers can pay.
The majority of developers predict that “intense competition will be present” between the developers who are interested in purchasing both the land parcels at Plantation Close and Tengah, particularly given past sales results for ECs sold both in Tengah & Tampines.
EC sites that are located near MRT Stations are rare and will generate a great deal of interest from developers.
In June, a EC at Plantation Close was sold for S$703 psf ppr. Hoi Hup Realty & Sunway Developments bought the site for S$348.5 millions.
The most recent site to be put out for tender is adjacent to the one recently sold.
Experts expect five to seven bidders for the site that is available through tender. The top bid will be between S$680 and S$730.
Housing and Development Board’s (HDB) two executive condominium (EC), sites have been launched for sale on Thursday, November 30th in the capacity of the board as the government land sales agent.
Both parcels of land have a 99-year lease and will produce approximately 560 housing units.
Plantation Close is the first site, which measures 20,038.2 square meters (sqm). The site has a maximum Gross Floor Area (GFA) measuring 56,107 sqm.
This site is included in the GLS confirmed list for H2-2023 and will be sold by public auction on 1st February 2024. Tenders for this property close at 12pm. This site’s closure will be combined with the Orchard Boulevard Site, which was put up for sale on October 17, this year by the Urban Redevelopment Authority.
The second location is at Tampines street 95. It has a site size of 22,492 sqm and a maximum GFA area of 56 230 sqm.
The site can be applied for under the reserve list H2 2023 programme.