The Housing Board (HDB) has made two websites available for executive condos (ECs) jobs — in Sengkang and Tampines.
Two (2) sites from Tampines and Sengkang can yield up to 1,100 new EC units. HDB has launched the 99-year leasehold website for sale by tender. There have never been many new EC launches in this area in the last several years hence answer from buyers may be rather powerful.
Verdale condo Jalan Jurong Kechil Bukit Timah developed by COHL Singapore & CSC Land Group.
Analysts are anticipating up to 9 bids from developers reaching up to $260 million or $500 psf ppr.
Although the website isn’t near any MRT station, it’s near amenities such as the Greenwich V shopping mall. Upgraders may be particularly considering new EC launches from the area, especially as greater than 10,000 HDB flats in Sengkang and Punggol have reached the end of the minimum occupation period (MOP) and some owners may want to upgrade.
Executive condos or ECs are a hybrid of public and private home. They are made by private investigators and therefore have condominium-like facilities such as swimming pools, health spas, and multi-level rooms. While they can be marketed on the market at the conclusion of the MOP of five years, they have the added value of getting private condos after 10 years.
3 executive condos anticipated to launch this year
The next website in Tampines measures 23,799.2 sq m and has been placed beneath the book list. This means that it will simply be triggered for sale once the minimum reserve price has been met by developers putting in bids to the land.
Tampines is a popular mature estate that could observe buyers searching for upgrading or lateral movements inside the estate, in particular, people who would like to reside near their ageing parents or married kids.
Developers may, nevertheless, be keeping an eye on a potential EC launch in Tampines Ave 10 this year as a benchmark for their own bids. Two other ECs are expected to launch this year, such as Ola in Anchorvale Crescent and Parc Canberra at Canberra Link.