The Housing Board has released an executive condominium (EC) site in Tengah for sale under the Government Land Sales (GLS) programme.
A site in Tampines Street 95 was also made available for application under the reserve list, HDB said on Nov 30. This means it will be put up for tender if a developer has submitted an application that meets the Government’s minimum price for the site.
Each site can yield about 560 units.
Owing to the popularity of ECs, analysts expect the 20,038.2 sq m Tengah site located in Plantation Close to receive strong interest and at least five bids from developers.
Mr Eugene Lim, key executive officer at real estate firm ERA Singapore, noted that four EC sites in Bukit Batok and Tengah have attracted about seven bidders per site on average since 2021.
However, market watchers do not expect bids will exceed the record $721 per sq ft per plot ratio bid that won Sim Lian Land and Sim Lian Development a Tampines Street 62 EC site in October, which is in a more established and mature neighbourhood.
Located at the southern tip of Tengah, at the intersection of Bukit Batok Road and the Pan-Island Expressway, the site has a maximum gross floor area of 56,107 sq m.
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