SINGAPORE (EDGEPROP) - HDB has launched the tender for an executive condo (EC) site along Tampines Street 95 under the Confirmed List of the 2H2024 Government Land Sales (GLS) programme. The site appeared on the Reserve List of the 2H2023 GLS programme but was not triggered for sale at the time.

The 99-year leasehold EC site spans 242,190 sq ft and has a gross plot ratio of 2.5 under the Master Plan. The site is expected to yield approximately 560 new residential units.

The site is within 1km of Red Swatiska School and St Hilda's Primary School, and close to Tampines West MRT Station on the Downtown Line and Temasek Polytechnic.

Explore comprehensive data about all ECs, including the average profit at 5 and 10 years

This EC site is close to a mixed-use commercial and residential site along Tampines Street 94 that was launched in June and is still open for tender. The site along Tampines Street 94 is 252,989 sq ft with a plot ratio of 2.6. It is expected to yield 585 residential units with a commercial gross floor area of 112,980 sq ft.

Bids for the EC site along Tampines Street 95 may take cue from the tender results of the mixed-use site at Tampines Street 94, says Mark Yip, CEO of Huttons Asia

“To be competitive, there has to be a comfortable price gap between the two sites,” says Yip. He estimates that there may be up to five bidders for the EC site with the top bid coming in between $650 and $700 psf per plot ratio.

The tender for the EC site on Tampines Street 95 closes on Oct 24.