Release more exec condo sites to meet bullish demand

While some state land tenders this year drew a lukewarm response, the tender by the Housing and Development Board (HDB) for the 99-year leasehold executive condominium (EC) site that can yield some 560 homes in Tampines Street 95 drew five bidders and a top bid by Sim Lian of S$465 million or around S$768 per square foot per plot ratio (psf ppr).

The two highest bids at the tender that closed on Oct 24 broke the record of S$729 psf ppr for an EC site at Jalan Loyang Besar in Pasir Ris that was awarded to CNQC International, China Communications Construction Company and ZACD in August.