Archive for category: Misc

The two residential sites released under the Government Land Sales (GLS) Programme for 1H2023 comprise a Tengah Plantation EC private residential site at Jalan Tembusu and an executive condo (EC) site at Tampines Street 62 (Parcel B), and can yield around 1,540 homes in total. With a tender closing date of July 18, what can developers and home buyers look forward to?

The 20,572.1 sqm Jalan Tembusu site has a gross plot ratio of 3.5, and can generate 840 housing units with a maximum Gross Floor Area of 72,003 sqm. OrangeTee & Tie CEO Steven Tan notes the location of the site, which is close to the upcoming Tanjong Katong MRT Station, as well as several schools such as Chung Cheng High School (Main), Tanjong Katong Girls’ School, and Tanjong Katong Primary School. He comments that the site also has potential popularity due to its proximity to the Canadian International School.

The 28,000.2 sqm EC site at Tampines Street 62 (Parcel B) has a Gross Plot Ratio of 2.5 and a maximum GFA of 70,001 sqm, and can yield up to 700 units. Huttons Asia’s Senior Director of Research, Lee Sze Teck, notes the area’s lack of large projects since Haig Court in 2004, and suggests potential pent-up demand. Lee adds that the success of the current 618-unit EC project, Tenet, next to the Tampines Street 62 (Parcel B) site shows there is strong demand for ECs in the area. This may be further buttressed by a mixed-use GLS plot at Tampines Avenue 11 which comprises commercial and residential components, integrated with a bus interchange, a community club, and a hawker centre.

Given the successful EC project launches in the past year and lack of available new EC supply, OrangeTee & Tie’s Tan expects “healthy interest” from developers for the Tampines Street 62 (Parcel B) site, with four to seven bidders and a final bid price of $630 to $680 psf ppr. An estimated selling price ranging from $1,380 to $1,450 psf may be expected.

As for the Jalan Tembusu site, bidders will look to the recently launched Tembusu Grand for a gauge of demand, and with the site spanning more than 200,000 sq ft, Tan believes developers may form consortiums to share bidding costs and reduce risks. He projects the site will receive two to five bids, with the top bid coming in between $1,300 and $1,380 psf ppr.

These two sites, together with the mixed-use plot at Tampines Avenue 11, highlights the potential of the East in attracting home buyers and developers alike. With the large site at Jalan Tembusu and the EC site at Tampines Street 62 (Parcel B), the 1H2023 Government Land Sales Programme looks to be ushering in an exciting residential landscape in Singapore.

With the tender closing date of July 18, what can developers and home buyers look forward to with the 1H2023 Government Land Sales Programme?

Two residential sites under the 1H2023 GLS Programme have been launched for sale – a private residential site at Jalan Tembusu and an executive condo (EC) site at Tampines Street 62 (Parcel B). These sites, together with a mixed-use plot at Tampines Avenue 11, can yield a total of 1,540 homes.

Located opposite the upcoming Tembusu Grand, the 20,572.1 sqm Jalan Tembusu site has a gross plot ratio of 3.5 and can generate 840 housing units with a maximum GFA of 72,003 sqm. OrangeTee & Tie CEO Steven Tan notes its proximity to several schools and the Canadian International School, and believes developers may form consortiums to share bidding costs and reduce risks. Tan projects the site will receive two to five bids, with the top bid coming in between $1,300 to $1,380 psf ppr.

The EC site at Tampines Street 62 (Parcel B) measures 28,000.2 sqm and has a Gross Plot Ratio of 2.5 with a maximum GFA of 70,001 sqm. Huttons Asia’s Senior Director of Research, Lee Sze Teck, notes the area’s lack of large projects since Haig Court in 2004, and suggests potential pent-up demand. Lee adds that the success of the current 618-unit EC project, Tenet, next to the Tampines Street 62 (Parcel B) site shows there is strong demand for ECs in the area. Given the lack of available new EC supply, OrangeTee & Tie’s Tan expects “healthy interest” from developers for the site, with four to seven bidders and a final bid price of $630 to $680 psf ppr. An estimated selling price ranging from $1,380 to $1,450 psf is expected.

These two sites, together with the mixed-use plot at Tampines Avenue 11, highlight the potential of the East in attracting home buyers and developers alike. With the large site at Jalan Tembusu and the EC site at Tampines Street 62 (Parcel B), the 1H2023 Government Land Sales Programme may be ushering in an exciting residential landscape in Singapore.