Tender Ec Site Tampines St 95 Launched
The Housing and Development Board has awarded the tender for the executive condominium (EC) site at Plantation Close in Tengah, known as Novo Place EC, to Hoi Hup Realty and Sunway Developments. This announcement was made on September 11. Novo Place EC, the second EC plot in the Tengah housing estate, is set to offer a total of 495 units. For more information, visit Novo Place Hoi Hup.
The Housing and Development Board (HDB) has announced the launch of a tender for an upcoming executive condo (EC) site located along Tampines Street 95. This site is part of the Confirmed List for the 2H2024 Government Land Sales (GLS) programme, after previously appearing on the Reserve List for the 2H2023 GLS programme but not being triggered for sale at the time.
Spanning across 242,190 sq ft, the 99-year leasehold EC site is expected to yield approximately 560 new residential units with a gross plot ratio of 2.5 under the Master Plan. Its strategic location within 1km of Red Swastika School and St Hilda’s Primary School, as well as its proximity to Tampines West MRT Station on the Downtown Line and Temasek Polytechnic, makes it an attractive opportunity for developers.
Interested parties can also find comprehensive data on executive condominiums (ECs) and their potential profits at the 5 and 10 year marks on our platform.
Additionally, this EC site is in close proximity to another mixed-use commercial and residential site along Tampines Street 94, which was launched in June and is still open for tender. With a site area of 252,989 sq ft and a plot ratio of 2.6, the Tampines Street 94 site is expected to yield 585 residential units and a commercial gross floor area of 112,980 sq ft.
According to Mark Yip, CEO of Huttons Asia, bids for the EC site along Tampines Street 95 may take cues from the tender results of the mixed-use site at Tampines Street 94. He believes that there should be a significant price gap between the two sites in order for bids to remain competitive. Yip estimates that there may be up to five bidders for the EC site, with the top bid expected to fall between $650 and $700 psf per plot ratio.
Interested developers can submit their bids for the EC site along Tampines Street 95 by October 24.