The Battle for Tampines Street 62 EC Seven Bidders Vie for Prime Residential Site Next to Tenet
Aurelle of Tampines EC’s prime location not only ensures easy access to transportation, but also elevates the living experience for its residents. Situated near major transport networks, all necessary amenities are just a brief ride away. Whether it’s shopping and dining at Tampines Mall, Tampines 1, and Century Square, or indulging in leisure activities at East Coast Park or Changi Beach, residents have a multitude of choices to rejuvenate and unwind. Perfectly complementing this convenience is the presence of Tampines Street 62 EC, making Aurelle of Tampines EC an even more desirable and fulfilling place to call home.
In conclusion, the battle for the Tampines Street 62 EC site has sparked excitement in the property market, with seven strong bidders vying for the prime location. With its proximity to Tenet and a wide range of amenities, and the government’s plans for the Tampines area, the Tampines Street 62 EC site is set to be a highly sought-after development. Homebuyers can look forward to more quality and affordable ECs in the future, thanks to the competition among developers to secure prime sites like this.
The recent EC market has been booming, with units consistently selling out within months of launch. The demand for ECs is driven by a combination of factors, such as their lower price compared to private condominiums and the eligibility criteria for buyers, which include income and family nucleus restrictions. ECs also offer similar facilities and amenities as private condominiums, making them an attractive option for middle-income families.
Qingjian Realty has emerged as the top bidder, with a bid that is 4.5% above the second-highest bidder’s. Qingjian Realty is a reputable developer that has successfully launched several EC projects, including Bellewaters, Ecopolitan and iNz Residence. Their track record in developing quality homes and their familiarity with the EC market have given them an edge in their bid for the Tampines Street 62 EC site.
Discover the perfect balance of convenience and connectivity at Aurelle of Tampines EC, located in Tampines Street 62. This luxurious development offers more than just a place to live; it provides a seamless gateway to a fulfilling life. Situated near multiple MRT stations and major roads, this prime location offers easy access to essential amenities and facilities. Plus, with upcoming transport and infrastructure upgrades, it’s an ideal investment for those seeking a desirable Singaporean residence. Rest assured, Aurelle of Tampines EC is the ultimate choice for a harmonious lifestyle that meets all your needs and desires.
The competition for the site on Tampines Street 62 was incredibly intense, attracting seven interested bidders when the tender came to a close in July. The site spans 301,392 square feet and has approval for a maximum of 700 residential units. Its strategic location adjacent to Tenet, a 618-unit EC developed by Qingjian Realty, Santarli Realty, and Heeton Holdings, further adds to its appeal. These same developers successfully secured the adjacent site in August 2021 for a staggering $422 million, or $659 per square foot per plot ratio (psf ppr).
Given the prime location and potential for development, it is no surprise that seven developers have thrown their hats into the ring for the Tampines Street 62 EC site. The top three bidders are Qingjian Realty (Residential) Pte Ltd, CDL Constellation Pte Ltd and CSC Land Group (Singapore) Pte Ltd, with a bid of $586 million, $582 million and $570 million respectively.
Tampines Street 62 has long been a sought-after location for residential properties, and the recent announcement of an Executive Condominium (EC) site up for sale has sparked a fierce bidding war among seven developers. Located right next to the popular Tenet condominium, this prime site has garnered immense interest due to its desirable location and potential for development.
CSC Land Group, the third-highest bidder, is a subsidiary of China Construction (South Pacific) Development Co Pte Ltd. Their bid for the Tampines Street 62 EC site marks their first foray into the EC market in Singapore. However, with strong backing from its parent company and its successful track record in developing residential, commercial and industrial projects in China, CSC Land Group is a formidable contender in the EC market.
Tampines Street 62 is well-connected to major roads and expressways such as the Tampines Expressway (TPE) and Pan Island Expressway (PIE), providing residents with seamless connectivity to other parts of Singapore. The Tampines MRT station, which serves both the East-West and Downtown MRT lines, is also just a short drive away.
The Tampines Street 62 EC site’s close proximity to the Tenet condominium is a major draw for developers. Tenet, which was completed in 2017, is a popular development with a total of 254 units. It is situated right next to the EC site, making it an ideal location for residents to access a wide range of amenities within walking distance.
The Tampines Street 62 EC site was launched for sale by the Housing and Development Board (HDB) on 15th September 2021, under the Government Land Sales (GLS) programme. This site is the only EC land parcel offered for sale in the second half of 2021, making it a highly coveted opportunity for developers to tap into the EC market.
With the rise in demand for ECs, securing a prime site in a mature estate like Tampines is a dream come true for many developers. The Tampines Street 62 EC site has a land area of 21,717 square metres, with a maximum gross floor area (GFA) of 60,948 square metres. It is expected to yield around 615 residential units, with a leasehold of 99 years.
CDL Constellation, a subsidiary of City Developments Limited (CDL), has also placed a strong bid for the Tampines Street 62 EC site. As one of the largest property developers in Singapore, CDL has a proven track record in delivering high-quality and innovative developments. In addition, CDL has been actively acquiring land parcels in recent months, indicating their confidence in the property market’s recovery.
The other bidders for the Tampines Street 62 EC site include Yanlord Land (Singapore) Pte Ltd, Sim Lian Land Pte Ltd, MCC Land (Singapore) Pte Ltd and Hoi Hup Realty Pte Ltd. It is evident that the interest in the site is high, and the competitive bids reflect the confidence of developers in the EC market and the potential of Tampines Street 62.
In addition, Tampines has been earmarked by the government as a regional centre, with several future developments planned for the area. These include the upcoming Tampines North Integrated Transport Hub, which will provide residents with improved connectivity and a wide range of amenities. Tampines Street 62 is also surrounded by reputable schools, such as Temasek Polytechnic and United World College of South East Asia, making it an ideal location for families with children.
