News

Residential Property

Staff Reporter

, Singapore

Published:

3 years ago

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Tampines Street 62 (Parcel B) location (Map by the Housing and Development Board)

HDB launches tender for Tampines Street 62 site

An estimated 700 units can be made on the site, HDB said.

The Housing & Development Board (HDB) released the Tampines Street 62 (Parcel B) site for lease under the Government Land Sales (GLS) programme.

Zoned residential, the site has an area of 28,002 square meters and a maximum gross floor area of 70,001 square meters. Maximum building height is at 64 meters, according to HDB.

An estimated 700 units can be made on the site, with a lease of 99 years.

Christine Sun, senior vice president for research and analytics at Orange Tee & Tie, noted the proximity of the site to the upcoming mixed-use project at Tampines Ave 11. Tampine Ave 11 will have 14,000 sqm of commercial space, a bus interchange, a community club, and a hawker centre.

The plot is also near the future Tampines North MRT Station on the upcoming Cross Island Line, Sun said.

“We anticipate healthy interest from developers since the previous EC project launches sold well despite the high-interest rates and cooling measures.” Sun noted, adding that as prices of new condos continue to climb and the price gap between new ECs and new condos widens, eligible buyers will” continue to choose ECs that are deemed to be more affordable.

Sun expects the final price bid to fall between S$630 to S$680 per square foot (psf), whilst the future selling price of the EC could range from S$1,380 to S$1450 psf.

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Christine Sun

GLS tender

Housing and Development Board

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