The Tampines St 62 (EC) site saw 7 developers vying for it. The EC market is attracting a lot of interest from developers as the past few EC launches have seen very strong sales. Copen Grand and Tenet are fully sold while Altura is close to 90% sold.
The top bid of $721 psf ppr speaks of the confidence the developer has for ECs in Tampines. Generally EC sites in Tampines tend to have a slight premium over other locations. Furthermore this area will be more attractive in the future when the Cross Island line and a mixed-use development along Tampines Ave 11 is completed. It will benefit from the potential pool of more than 2,000 HDB flats which will reach its 5-year MOP in 2024 and 2025.