The Housing & Development Board (HDB) has announced the launch of a tender for an executive condominium (EC) site located along Tampines Street 95. This launch is part of the Confirmed List under the second half of the 2024 Government Land Sales (GLS) programme. The site was previously included in the Reserve List of the 2H2023 GLS programme but did not receive any trigger bids for sale at that time.

The 99-year leasehold EC site covers an area of 242,190 square feet and has been allocated a gross plot ratio of 2.5 under the Master Plan. The site is anticipated to yield approximately 560 new residential units upon development.

Situated in a prime location, the site is within one kilometre of Red Swastika School and St. Hilda's Primary School. It also boasts proximity to Tampines West MRT Station on the Downtown Line and Temasek Polytechnic, enhancing its appeal to potential homebuyers and investors.

Notably, this EC site is in close proximity to a mixed-use commercial and residential site along Tampines Street 94, which was launched for tender in June and remains open for bids. The Tampines Street 94 site spans 252,989 square feet with a plot ratio of 2.6 and is expected to yield 585 residential units along with 112,980 square feet of commercial gross floor area

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Mark Yip, CEO of Huttons Asia, suggests that the tender results of the mixed-use site at Tampines Street 94 may influence bids for the EC site along Tampines Street 95. "To be competitive, there has to be a comfortable price gap between the two sites," Yip states. He estimates that the EC site may attract up to five bidders, with the top bid potentially ranging between $650 and $700 per square foot per plot ratio.

The tender for the EC site on Tampines Street 95 is scheduled to close on October 24, 2024.