The Tampines St 95 (EC) site saw 5 bids and a top bid of $768 psf ppr came from Sim Lian.
EC sites in Tampines usually see strong participation and bids from developers as the EC projects are able to achieve good sales on launch day.
Tenet in Tampines St 62 sold 447 out of 618 units in Dec 2022 while Parc Central Residences in Tampines St 86 sold 414 out of 700 units in Jan 2021. The next EC, Aurelle of Tampines may be launched in 2025.
The improving take-up for recent project launches may have given some push to developers to replenish their land bank. Interest rates which are likely to trend lower in 2024/2025 may have allowed developers more leeway to bid for land.
Sim Lian is familiar with Tampines having built Treasure at Tampines and The Tampines Trilliant (EC). They have an upcoming EC in 2025, Aurelle of Tampines at Tampines St 62.
This Tampines St 95 (EC) site is close to Tampines West MRT station. The site will benefit from the mixed-use commercial and residential site diagonal to it at Tampines St 94.
Tampines had quite a number of BTO launches in the past few years and there is a large pool of potential upgraders looking to upgrade to an EC.
The site is within 1km to Red Swastika School and St Hilda’s Primary School which are popular with parents.
