Tampines Street 62 Executive condo sets record price

A new price record has been set for an executive condominium site on Tampines Street 62 in Singapore.

Site in Tampines street 62 (Parcel A) is 28,000 sq. m. – the equivalent of almost four football fields. It can produce 700 residential units.

Housing Board announced on Monday that Sim Lian Land & Sim Lian Development was awarded the tender at $543,000,000, or $721 sq ft ppr (psf ppr).

The amount also exceeded the previous record of $509 million set in 2018 for the site of Piermont Grand EC at Sumang Walk in Punggol.

In August 2021, a parcel A adjacent to the site was awarded for $422 million or $659 per square foot per year. It was a record-breaking land price for an EC project.

Previous EC launches, including the 639-unit Copen Grand at Tengah Garden Walk, and the 618 units Tenet in Tampines Street 62 are both sold out. Altura, with 360 units in Bukit Batok is almost 90% sold.

The previous land rate record of $703 psf ppr was awarded to an EC site at Plantation Close, Tengah in September.

Developers launched Tenet EC on the site. The site sold 72 percent of its units upon launch. Seven developers are vying to develop the Tampines location.

Read up more on : Hillock Green

The developer’s confidence in ECs at Tampines is evident in the top bid of $721 psf ppr. This area will become more appealing in the future once the Cross Island Line has been completed.

The price of the future Tampines EC could range from $1,430 psf up to $1,500 psf.