Arc @ Tampines
|
|
| Developer : |
Hoi Hup Sunway Tampines Pte Ltd
(Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd
and SC Wong Holdings Pte Ltd) |
| Location : |
Tampines Avenue 8 |
| Expected TOP: |
Dec 2015 |
| Tenure |
Leasehold 99 years |
| Site Area : |
20,600 sq m / 221,740 sq ft |
| Description : |
9 blocks of 16-Storey residential units.
1 block of 7-storey multi-storey carpark with roof garden and residential units.
|
| Number of units : |
574 |
| Special Features / Additional Items (if applicable) : |
- Miami-styled resort pool
- Curved Balconies that look like wave – a unique architecture
- Selected units with reservoir view
- Selected ground floor "Floating Units" by the pool
- A row of Terrace units consisting 8 "cabana" apartments (2-bedroom apartments) located on the top of Multi-Storey carpark. Comes with 1 designated car park lot.
- Multi-Generation Units available – Choice of 2+1 bedroom or 3+1 bedroom
|
| Unit Types : |
- 2 Bedroom (775 - 807 sqft) - 86
- 2 Bedroom (Cabana) (1,399 - 1,410 sqft) - 8
- 3 Bedroom (958 - 1,076 sqft) - 224
- 3 Bedroom + Utility (1,130 - 1,152 sqft) - 96
- 4 Bedroom (1,173 - 1,561 sqft) - 96
- 2+1, 3+1 Multi Generation (1,227 - 1,496 sqft) - 64
- PES (893 - 2,024 sqft)
- Penthouse (1,496 - 2,282 sqft)
|
| Architects : |
Consortium 168 Architects Pte Ltd
|
| Landscape Architects : |
Salad Dressing Pte Ltd
|
| Interior Designer : |
Expression Galleries Pte Ltd
|
Estimated
Maintenance Fees : |
- 2 Bedroom : $210 (6 Share Values)
- 2 Bedroom (Cabana): $245 (7 Share Values)
- 3 Bedroom : $210 - $245 (6-7 Share Values)
- 3 Bedroom + Utility : $245 (7 Share Values)
- 4 Bedroom + Utility : $245 - $280 (7-8 Share Values)
- 2 + 1 Multi-Generation : $245 (7 Share Values)
- 3 + 1 Multi-Generation : $245 - $280 (7-8 Share Values)
- Penthouses : $245 - $315 (6-9 Share Values)
|
Siteplan
Location
Tampines West MRT Station
|
|
|
New Tampines EC will see strong demand due to revised income ceiling
Updated: 31/08/2011 ~ xin msn news
Market watchers expect a strong demand for the newest executive condominium Arc at Tampines.
It's the first to be launched since the income ceiling was revised upwards to 12,000 dollars, from 10,000 dollars on 15 August.
They say the development will also appeal to upgraders who find private condominiums too expensive.
Joanne Chan has more.
"Arc at Tampines is a 574-unit development along Tampines Avenue 8, with apartments ranging from 2-bedders to penthouses.
"Indicative prices for a 2-bedroom unit start from $598,000, while a 3-bedder goes for $678,300."
Analysts say the average price per square foot works out to be 760 dollars - higher than previous launches, which ranged from 650 to 750 dollars.
Still, they expect the development to do well, with demand from first-timers who were previously priced out of the market, as well as upgraders.
Nicholas Mak is the Executive Director of Research and Consultancy at SLP International.
"Last year, for some of the executive condos that were launched, between the EC and other new launches in the same vicinity, as well as the 99-year lease condos in the same vicinity, the price gap ranged between 15 - 20%.
"This year, for some of the EC that were launched, the 99-year condos were priced about 25 to 30% higher than that of EC launch in recent months.
"So with the wider price gap, it would make some of the EC much more attractive."
Mr Mak noted that to keep prices attractive and below the million-dollar mark for a 3-bedroom apartment, developers are building smaller units.
He said a 3-bedder is about ten percent smaller than a decade ago.
The Arc at Tampines attracted a steady stream of visitors when MediaCorp visited the showroom on Wednesday afternoon.
One of them was 43-year-old Robin Yeo, who benefited from the revised income ceiling.
"I like the design because of the Miami-style theme, and of course the income salary ceiling has increased, so that gave me the opportunity to apply for this flat. "
Another three sites slated for the development of executive condos were snapped up by developers earlier this year - in Choa Chu Kang, Tampines and Punggol.
Government Land Sales Programme - Launch of Tender for EC Sites at Pasir Ris Drive 3/ Pasir Ris Rise and Yishun Avenue 7/ Canberra Drive
Date issued : 25 Aug 2011
The Housing & Development Board (HDB) will, as the Government’s land sales agent, release two Executive Condominium (EC) housing sites at Pasir Ris Drive 3/ Pasir Ris Rise and Yishun Avenue 7/ Canberra Drive for sale today, 25 Aug 2011. The tenders will close at 12 noon on 11 October 2011 (Tuesday) and 25 October 2011 (Tuesday) respectively. Details of the site and the tender application procedures are in Annex 1 (PDF 20KB).
2 The revised income ceiling and tiered CPF housing grants announced on 15 August 2011 will be applicable to EC projects launched for public sale from 15 Aug 2011. Hence, the revision will apply to these two sites at Pasir Ris and Yishun.
3 In addition to the 2 EC sites released by HDB today, URA has also released 2 new residential sites at Jalan Loyang Besar/ Pasir Ris Rise and Flora Drive (Parcel B) today for tender. Together, these four sites will provide developers and home-buyers with more choices.
More HDB upgraders turning to private property market
By Amanda Feng | Posted: 18 August 2011 2359 hrs ~ Channel News Asia
SINGAPORE: More HDB flats may be on the way but upgraders are increasingly turning to the private property market.
According to a report by DTZ Research, there is a rising trend of transactions made by purchasers with HDB flat addresses.
These buyers bought about 39 per cent of all private residential homes in the second quarter of this year, higher than the 37 per cent registered in the first quarter 2011 and the 34.6 per cent in the fourth quarter last year.
DTZ said this could be due to more projects launched in the suburban areas therefore attracting HDB upgraders, HDB flat owners who buy for investment, or singles who are staying with their parents in HDB flats buying their own apartments.
Another trend that DTZ has identified is that these buyers are also purchasing small units that are below 1,000 sq ft in size. It found that 50.3 per cent of purchasers who bought units below 1,000 sq ft in Q2 this year had HDB addresses, an increase over the 47.5 per cent in Q1 2011. This is also a reversal from past trends in 2010 and Q1 2011 when private property owners were investing in small units.
DTZ's analysis also revealed that Singaporeans continued to drive demand at the lower end of the price scale. Around 75 per cent of purchases costing S$500,000 or less were made by Singaporeans in the second quarter. They purchased 69 units costing S$500,000 or less in Q2, slightly more than double the 34 transactions in the first quarter.
Eugene Lim, vice-president of ERA Singapore, commented: "As we all know, HDB resale prices have been on the increase. People who have made money selling their HDB flats are able to upgrade into private properties."
"They are buying more small units as smaller units are within affordable quantum - those in HDB addresses rarely have affordability exceeding S$1 million," he added.
Based on caveats lodged for both new and secondary sales, DTZ said that overall private property sales increased more than 20 per cent in the second quarter this year, with transactions of private homes totalling 8,458 units, more than the 6,958 transactions registered in the first quarter.
Of the units sold, 3,294 units were primary sales (direct from developers), an increase of 18.4 per cent quarter-on-quarter.
However, secondary sales (or resales) jumped by 23.7 per cent quarter-on-quarter to 5,164 units.
Foreign purchases recorded 1,327 in the second quarter, accounting for 16 per cent of purchases. While this was similar to the previous quarter this year, it was, however, higher than the 11 per cent recorded a year ago.
Among non-Singaporean buyers who comprise foreigners and Permanent Residents (PRs), mainland Chinese buyers made up 26 per cent of purchases and were the top purchasers of residential properties for the second consecutive quarter.
Head of DTZ South East Asia Research, Chua Chor Hoon, said that concerns over the US and Europe debt problems as well as the slowing economy have led to more cautious sentiments in the private residential market.
"However, purchase demand for private homes will still be supported by economic growth and the low interest rate environment in Singapore," she said.
Income ceilings for HDB flats to be raised
By Hoe Yeen Nie | Posted: 14 August 2011 2049 hrs - Channel News Asia
SINGAPORE: The government will raise the qualifying income ceilings of households for HDB's Build-To-Order (BTO) flats and Executive Condos (EC), said Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday evening.
The qualifying income ceilings of households for BTO flats will be increased from the current S$8,000 to S$10,000, and for ECs from the current S$10,000 to S$12,000.
Prime Minister Lee said HDB will also build another 25,000 BTO flats next year to meet demand and keep prices of new flats stable and affordable.
The government will also be adding 7,000 rental units over the next two years and postponing demolition of some SERS blocks to be used as temporary rental units.
Mr Lee said the moves will ease the waiting time for needy Singaporeans who require rental flats.
The prime minister also made the commitment to keep housing available and affordable for Singaporeans.
To meet demand, the HDB is already building 25,000 BTO flats this year. And this has had some effect, with each new project seeing fewer applicants.
Still, many young couples, especially those earning just under the qualifying income ceiling of $8,000 a month, are concerned. They worry that with their incomes on the rise, they will breach the ceiling before they get their first flat.
Hence, the monthly income cap will be raised from the current S$8,000 to S$10,000.
For Executive Condominiums, the ceiling will be raised from the current S$10,000 to S$12,000.
"We are bringing more people into the HDB net, and you don't have to worry so much. But the result of bringing more people into the HDB net is that there's going to be more demand for the BTO flats," said Prime Minister Lee.
Hence next year, HDB will be building another 25,000 new BTO flats.
Analysts said the measures will ease the concerns of many homebuyers, but they wonder if further reviews of income criteria are required.
"Much of the policies, like the CPF housing grant, are exactly the same as the same policies to be eligible for a brand new flat. So if there is an amendment now with the (income ceiling) for brand new flats, my question is: will there also be an amendment to the resale market policies, for example, the CPF housing grant?" asked Chris Koh, director of Dennis Wee Group.
- CNA/al/ir
3 bids for every BTO flat for July
Jul 21, 2011 - TodayOnline
SINGAPORE - A total of 11,548 applications were received for the 3,556 flats on offer in this month's Build-To-Order (BTO) launch as of 5pm yesterday, according to the Housing and Development Board website.
This works out to about three bids for every new flat on offer. Among the units on offer, demand for four-room flats at Yishun Natura was the highest - with 1,010 applications for 140 units.
The application period for the seven BTO projects launched this month were scheduled to close yesterday. The projects spanned five locations: Sengkang, Tampines, Jurong West, Bukit Panjang and Yishun.
The BTO flats were originally slated to be launched over two separate exercises but they were combined into a single launch.
National Development Minister Khaw Boon Wan had said that this would provide more choices and reduce disappointment for prospective flat buyers.
DBSS land sales suspended, under review
Jul 5, 2011 - PropertyGuru.com.sg
The government has suspended future land sales under the Design, Build and Sell Scheme (DBSS), pending its review, according to National Development Minister Khaw Boon Wan.
"We are reviewing (the) DBSS scheme. Meanwhile, I have suspended future DBSS land sales," said Khaw on his Facebook page.
"However, a few DBSS land sites sold last year, like the Centrale 8 site, will launch their sales in next few months," he said. "These are old tenders beyond my control."
He noted that the Ministry of National Development (MND) and the Housing and Development Board (HDB) are reviewing the scheme, during which the "HDB will not proceed with the sale of the Bendemeer Road site originally scheduled in 1H 2011."
Since 2005, 13 sites have been sold to private developers under the scheme, which aims to provide flat buyers better value-for-money, as well as offer further improvement in building and design. Under the scheme, developers tender for land sites and have flexibility in designing, selling, and pricing the flats.
"The DBSS did play two functions then: number one, to cater to the sandwich class — those people whose income were above S$8,000 and did not qualify for BTO (build to order) flats," said Mohamed Ismail, Chief Executive of Propnex.
Secondly, "it allowed, during 2005 — when the economy was not doing well — the developers an opportunity to build homes, with better design as well as architectural initiative being thrown in."
DBSS flats comprise less than one percent of the entire HDB flat supply. However, they came under fire recently after Sim Lian Group, the developer of the Central 8 DBSS project, set an asking price of around S$880,000 for five-room flats in the project.
"But today, six years later, I think the climate and the background have totally changed," noted Ismail.
Analysts pointed out that DBSS flats may not be relevant today, as the government’s current policy is to provide affordable housing to the public.
Tampines DBSS project two times oversubscribed
Thu, Jun 23, 2011
AsiaOne
The controversial expensive Design, Build, and Sell Scheme project at Tampines, Centrale 8, has been two times oversubscribed.
1,431 applications were received for the 708-unit project by the deadline on Tuesday.
This is despite the hullabaloo created by the indicated price earlier announced by property developer Sim Lian Group, who said during the launch that the biggest 5-room flats will cost up to $880,000.
It has since slashed the prices by up to $102,000, bringing the maximum price down to $778,000.
The Straits Times reported that this news surprised some industry observers, who said that the number of times a project is over-subscribed is not a good indicator of how well it will actually sell eventually.
PropNex Chief Mohamed Ismail told the paper that it is more likely that that people are hoping to buyer lower-end units within their price range, and that if they are offered a flat beyond their budget they will reject it.
Similarly, when the first DBSS project was launched, also by Sim Lian Group, the 616-unit Premiere@ Tampines received 5,700 applications. However, only 500 flats were sold initially, although, as the Straits Times reported, there were long queues when the remaining units went up for sale.
Price of Centrale 8 DBSS flats lowered
by Esther Ng 06:07 AM Jun 22, 2011 TodayOnline
SINGAPORE - Centrale 8's developer has reduced the prices of its Design, Build and Sell Scheme flats (DBSS), possibly "caving in" to public pressure, property analysts told MediaCorp.
The most expensive five-room flat is now S$778,000, down from S$880,000.
While Sim Lian Group reiterated yesterday that its initial prices were only indicative, ERA Asia Pacific associate director Eugene Lim pointed out: "When developers reveal their price range, it's usually quite close. For instance, (the previous DBSS project) Adora Green's selling prices were exactly their indicative prices."
SLP International executive director of research and consultancy Nicholas Mak said: "Like any business, they took the risk - they wanted to see if the market would respond positively to their prices or not."
Sim Lian said last week it the premium cost was due to the project's location in Tampines Regional Centre with mature amenities, and the promixity to Tampines MRT station and the future Downtown Line 3 MRT interchange.
In a press release yesterday, Sim Lian Group chief executive officer Kuik Sin Pin said the new price range was decided based on the resale prices, age and location of HDB flats in the same vicinity, prevailing economic conditions and proximity to transport networks and good public facilities.
ERA's Mr Lim said Sim Lian could have been "genuinely pressured" to adjust the pricing.
He added, "The Minister himself said that if you price it too high, no one will want to buy from you."
However, Suntec Chesterton International head of research and consultancy Colin Tan felt that in all probability, the developer would have offered home buyers a discount to its indicative price range. Now, he said, Sim Lian will be making a smaller profit.
The developer did not say how many applications it received when the deadline closed yesterday.
But Mr Lim reckons that the flats are still "pricey": "Usually, the premium above a resale flat for a DBSS is between S$100,000 to S$150,000."
Analysts pointed out that Tampines is a more popular mature estate compared to Yishun, where the lower-priced Adora Green, which is 96 per cent sold after its February launch, is located.
"Centrale 8 not only has the amenities and conveniences, but offers high rental value - this could add five to 10 per cent more in pricing," said Cushman & Wakefield vice-chairman Donald Han.
Mr Mak had another take: "Sim Lian probably thought it had no competition, as there's not much land in Tampines for the Government to launch BTOs."
Centrale 8 pricing
by Esther Ng
Centrale 8' Indicative Prices
Three-Room $397,000 to $510,000
Four-Room $531,000 to $683,000
Five-Room $685,000 to $880,000
Confirmed Price Range
Three-Room $389,000 to $445,000
Four-Room $511,000 to $592,000
Five-Room $685,000 to $778,000
Don't compare DBSS flats with regular ones: Khaw
June 19 2011 - The Straits Times
FOLLOWING the stir caused by the recent high prices of a Design, Build and Sell Scheme (DBSS) development launched by a private developer, National Development Minister Khaw Boon Wan sought to explain the difference between DBSS developments and HDB flats.
In his latest blog entry on Saturday afternoon, he said that price control was not a term of the contract when private developers tender for the site, and buyers can choose to walk away from the purchase.
Mr Khaw wrote that on his part, he is ramping up BTO (Build-To-Order) launches and working on pricing them appropriately.
The DBSS development in question - Centrale 8 by developer Sim Lian, to be located in Tampines - will set a buyer back $880,000 for a five-room unit. This amounts to $750 psf, typical of suburban condominiums. The social media scene was abuzz following the news. The discussion thread on straitstimes.com garnered 116 comments in one day, mostly negative.
Here is the start of Mr Khaw's latest blog entry titled 'DBSS Is Not HDB': 'A private developer's DBSS launch in Tampines, with the upper end of the 5 room units priced at $880,000, caused a stir in the social media. The negative reaction was not surprising. DBSS is a class of housing type between HDB flats and Executive Condos (EC)/private condos. It forms a tiny portion of the total housing options for Singaporeans.
'While HDB flats are designed and priced by HDB, DBSS flats are designed and priced by private developers. If the private developer prices it too high and there are no takers, there will be no sales. Netizens would like MND (Ministry of National Development) to come in and tell the private developer to cut its price.
When they tendered for the land, price control was not a term of the tender. If contracts, after they are awarded, can be varied arbitrarily, this will damage Singapore's reputation as a business hub, with severe repercussions.
To read the rest of Mr Khaw's blog post, go here: http://mndsingapore.wordpress.com
Unit prices for DBSS project in Tampines hit record
high
By Liang Kaixin | Posted: 16 June 2011 2322 hrs ~ Channel
News Asia
SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is
the top price for a five-room unit at Centrale 8, the new
Design-Build-and-Sell-Scheme in Tampines and it sets a new
record, surpassing prices of some resale flats in the area.
 Launch prices for five-room units
range between S$685,000 and S$880,000. At 108 square metres,
these are smaller than most new HDB flats, but potential
customers said the units are better designed.
Centrale 8 is located near Tampines town centre, near upcoming
developments. Its sales launch saw about 300 customers on
Thursday morning. Applications for its 708 units close on June
21.
The National Development Ministry told Channel NewsAsia that the
developers of DBSS projects have to ensure prices are
affordable, and comparable to new HDB projects and the resale
and private markets.
DBSS projects are open to households earning a combined income
of up to S$10,000 a month.
Prices of Centrale 8 units are about twice that of an earlier
DBSS project launched in Tampines five-years ago by the same
developer. The developer said actual prices will be determined
in July, when applications are processed.
Kuik Sing Beng, Executive Director at Sim Lian Group, said:
"Five years ago, there was no announcement of the new Downtown
Line interchange, as well as the new lifestyle hub.
Comparatively, they can still afford a condominium in the
suburban area, but this is very well-located, with all the new
amenities. So I think the prices are reasonable."
BTO Launch May 2011
by HDB
HDB brings you six new Build-To-Order (BTO) projects – Costa Ris
and Golden Lily in Pasir Ris, Punggol Parcvista, Tampines
GreenLeaf, Tampines GreenWood and Woodlands Peak. Choose from
3,957 units of Studio Apartments, 2-, 3-, 4- and 5-room Standard
flats. This is the largest supply of BTO flats in a single
launch, surpassing the supply of 3,185 BTO flats offered last
month.
Tampines GreenLeaf offers a selection of 2-, 3-, 4- and 5-room
Standard flats, while Tampines GreenWood comes with a range of
Studio Apartments as well as 3- and 4-room Standard flats. You
can choose from flats in either development during selection.
The Studio Apartments are designed specially to meet the needs
of those 55 years old and above. At a size of 35 sqm or 45 sqm,
each apartment will be in ready-to-move-in condition and is
furnished with essentials such as elderly-friendly fixtures,
ceramic floor tiles, a built-in wardrobe, kitchen cabinets and
more. These units come with three-quarter height windows in the
living/dining area, as well as in the bedrooms.
All the units come with three-quarter height windows in the
living/dining area.
The indicative price range of these Standard flats is tabulated
below.
HDB closes tender for Tampines Central 7 after four
bids
By Julie Quek | Posted: 14 April 2011 2150 hrs Channel
News Asia
SINGAPORE: The Housing and Development Board (HDB) has closed
the tender for a residential site at Tampines Central 7 after
receiving four bids.
The highest bid came from developer Sim Lian Land for S$278.8
million.
The land parcel has a site area of 22,000 square metres and a
maximum gross floor area of 66,000 square metres.
The site, slated for executive condominium (EC) housing, was
launched for public tender on February 23 and has a lease period
of 99 years.
Director of Research & Advisory at Colliers International,
Chia Siew Chuin, said the top bid translates to about S$392 per
square foot per plot ratio and is yet another record unit land
price set for an EC project.
Ms Chia added that while the number of contenders for the site
was modest with four parties, the top bid reflects a very
bullish outlook for EC developments.
Earlier last month, a recently-awarded EC land parcel located at
Choa Chu Kang Drive saw a land price of about S$321 per square
foot per plot ratio.
HDB said it will evaluate the tender bids and announce the final
tender results at a later date.
HDB Launches Two Sites at Bendemeer Road/ Whampoa East
and Tampines Central 7 for Sale
Date issued : 22 Feb 2011 by HDB
The Housing & Development Board (HDB) will launch
two sites located at Bendemeer Road/Whampoa East and Tampines
Central 7 for sale on 23 Feb 2011. The sites are under the
Confirmed List of the first half 2011 Government Land Sales
(GLS) Programme.
Land Parcel at Bendemeer Road/ Whampoa East
2 This condominium site is located within walking
distance of the Boon Keng MRT station along the North East Line.
It is also well-connected to various parts of Singapore via
major roads and expressways.
3 The nearby shophouses and shopping malls like City
Square, Serangoon Plaza and Mustafa Centre provide a wide array
of dining, shopping and entertainment options to the residents
at this site. Families with school-going children choices
aplenty with established educational institutions like the
Bendemeer Primary and Secondary Schools, St Andrew’s Junior and
Secondary Schools and St Andrew’s Junior College in the
vicinity. Residents at this site can also enjoy the leisure and
recreational activities along the Kallang River and its park
connector located a stone’s throw away.
4 The details of Land Parcel are as follows:
| Location |
Bendemeer
Road/ Whampoa East (See
Location Plan at Annex A  (PDF 191KB)) |
| Proposed
Development |
Condominium
Housing |
| Land
Area |
18,618
sq m |
| Max.
Permissible GFA [GPR] |
65,163
sq m [3.5] |
| Est'd
Dwelling Units |
*780 |
| Lease
Term |
99 |
The tender site will close at 12 noon on 7 Apr 2011
(Thursday).
Land Parcel at Tampines Central 7
5 This new EC site is located in the established
Tampines Town which is brimming with a myriad of commercial
facilities and social and recreational amenities. These include
the Tampines Regional Centre, Neighbourhood Centres, schools,
cinemas, supermarkets, a library, a swimming complex as well as
sports facilities. The Tampines MRT Station is an interchange
for the East-West Line and the upcoming Downtown Line 3 and the
Tampines Bus Interchange at the Town Centre are also easily
accessible. Travelling is also facilitated by arterial roads as
well as the Tampines and Pan Island Expressways (TPE & PIE).
6 The details of Land Parcel are as follows:
| Location |
Tampines
Central 7 (See
Location Plan at Annex B (PDF 135KB)) |
| Proposed
Development |
Executive
Condominium |
| Land
Area |
22,000
sq m |
| Max.
Permissible GFA [GPR] |
66,000
sq m [3.0] |
| Est'd
Dwelling Units |
*660 |
| Lease
Term |
99 |
The tender site will close at 12 noon on 14 Apr 2011
(Thursday).
* Actual number of dwelling units provided by the
successful developer may vary.
Potential Supply from 1H2011 GLS Programme
7 In response to the strong demand for private
housing and for land to build private residential developments,
the Government has placed 17 sites on the Confirmed List and 13
sites on the Reserve List for private residential development
under the 1H2011 GLS Programme. Together, these 30 sites in
1H2011, which include 4 Executive Condominium (EC) sites and 2
commercial & residential sites, can potentially yield 14,300
private residential units.
8 Another 3 new sites at Buangkok Drive/ Sengkang
East Drive, Sembawang Road/ Jalan Sendudok and Jalan Loyang
Besar/ Pasir Ris Drive 4 will be launched by HDB and URA under
the Confirmed List next month.
6 bids for Tampines executive condo site
By Harsha Jethnani
AN EXECUTIVE condominium site in Tampines Avenue 8, launched
last month, has chalked up six bids, with offer prices slightly
higher than market expectations.
The top bid of $187.6 million or $302 per sq ft per plot ratio
(psf ppr) came from a consortium comprising Hoi Hup Realty,
Sunway Developments and SC Wong Holdings.
The 20,600 sq m site, put out to tender on Oct 6, is set to
yield about 525 units.
Analysts had expected prices for the site with a maximum gross
floor area of 57,680 sq m to range from about $220 to $280 psf
ppr.
The second top bid was from another consortium, made up of Opal
Star and Lum Chang Building Contractors, which offered $172.8
million or $278 psf ppr in the tender, which closed at noon
yesterday.
Demand for executive condo sites launched in the second half of
the year has been tapering off.
Two sites at Punggol drew five and four bids when tenders closed
in June and September. In August, a site at Jurong West saw no
bidders.
However, the somewhat stronger response for the Tampines land
parcel 'shows that developers are fairly confident about this
site', said Mr Li Hiaw Ho, executive director of CBRE Research.
He added that the site is within walking distance of Bedok
Reservoir and Temasek Polytechnic. It is also near Tampines
Central, Tampines MRT station and the Tampines Retail Park
featuring Giant, Ikea and Courts outlets.
Mr Li said the $302 psf ppr offer price translates to a
break-even cost of $600 to $620 psf.
Going by the experience at Waterview, a private condo at Bedok
Reservoir where 200 units were reported to have been sold at an
average of $838 psf last week, 'there will be a market for this
new EC project if it is priced at a differential of 15 to 20 per
cent lower than Waterview', said Mr Li.
That works out to a selling price of $670 psf to $712 psf. |
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Booking Procedure
E-Application
Arc@Tampines showflat will be opened daily from 31 Aug - 5 Sep 2011 (10.30am - 7pm).
Interested applicants should visit the showflat and submit the e-application during this period.
For e-applications, you will need to bring along the following documents:
1) Proof of identity
2) Proof of relationship
3) Proof of income
4) Any other relevant documents
After e-applications, you will be given the acknowledgement slip and balloting ticket.
The balloting ticket will entitle you the balloting chances to book a unit on 8 Sept 2011. Actual pricing will be released at the showflat from 6-7 Sept 2011.
What should I do now?
Make an appointment with us at 9012 2228 to visit the showflat. We will tour you around the showflat and
explain to you the unique features of this development. We will help you with a smooth e-application and booking (should you be successfully balloted).
Why make appointment with us?
Your appointed salesperson is important as he/she needs to be familiar with the EC requirements and booking procedure.
Our team is experienced with the requirements and procedures for booking an Executive Condo and will be able to help you with a smooth e-application and booking.
We were involved in the previous EC launched (ERA projects) and have help number of buyers to book their choice units. We will be glad to help you secure your choice units, call us now for a non-obligatory showflat viewing.
Register your
Interest
Do not miss this exciting new project!!! Register your interest with us
by filling up the registration
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Latest Updates
14 Aug 2011
National Day Rally 2011 - Income Ceilings for ECs will be increased from current $10,000 to $12,000.
02 Aug 2011
Building Perspective available now.
26 July 2011
1) Siteplan available now
2) Tentaive Launch Date:
31 Aug - 5 Sep (10.30am-7pm)
Booking of units wef 8 Sep 2011 by manual balloting (for those with queue number)
11 July 2011
Project description and unit types available now.
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Gallery
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Contact Us
Kelvin Sim
Contact: 9012 2228
Email: kelvin@sghometoday.com
CEA Reg No: R027635B
ERA Realty Network Pte Ltd
Licence No: L3002382K
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