Sim Lian bags Aurelle of Tampines EC site for S$543 million
Sim Lian group joint venture has bagged an executive condominium (EC) site in Tampines for S$543.28 million. This translates to S$721 per square foot per plot ratio (psf ppr) rate for the plot.
Sim Lian’s winning bid was about 2.5 per cent higher than the S$703 psf ppr paid for an EC site in Plantation Close, which was awarded last month to Hoi Hup Realty and Sunway Developments. The Plantation Close tender had marked a new high for EC land sales, with nine bidders jumping in.
With a land rate of S$721 psf ppr, PropNex Realty’s head of research and content Wong Siew Ying estimates the average selling price for the Tampines EC site will likely exceed S$1,500 psf.
The winning bid for the Tampines plot is also 9.4 per cent higher than the S$659 psf ppr paid for an adjacent plot at Tampines St 62 (Parcel A) – awarded in August 2021 – which is being developed as Tenet EC. The tender was evaluated under a modified concept-and-price revenue system, and only proposals with feasible concepts would be reviewed during the second stage, which would be based on pricing, according to HDB.
Under this system, developers can submit a standard bid using prefabricated prefinished volumetric construction (PPVC) technology that will automatically qualify for tender evaluation. They may also submit an alternative bid using other construction methods, as long as the technology used can result in specified productivity improvement. Alternative bids will be assessed by a Concept Evaluation Committee chaired by the Building Construction Authority to determine whether they qualify for tender evaluation.
Aurelle of Tampines is also near to Tampines Avenue 11 mixed-use GLS plot that is slated for an integrated development, with a bus interchange, community club and hawker centre. It will also be connected to the upcoming Tampines North MRT station on the Cross Island Line, further bolstering its appeal among buyers.
Aurelle of Tampines EC is located in Tampines, Singapore’s first regional centre, is a thriving and vibrant suburban hub that is home to a large segment of the population in the East. It is today a key employment node and its proximity to the Changi Business Park and Changi Airport spurs economic activity, generating buzz in the area. There are also plenty of amenities and recreation options in and around Tampines.
With so much going on, it is little wonder that Tampines remains a highly sought-after location among many home buyers.
Commercial hub and a hive of activity
Established in 1992, the Tampines Regional Centre has continued to flourish. It is home to many large corporations including financial services firms. According to the latest Singapore population census, some 84,200 employed residents aged 15 years and over, or 3.8% of the resident workforce, worked in the Tampines planning area in 2020.
The nearby Changi Business Park and Changi Airport also offer employment opportunities closer to home. Meanwhile, the ongoing transformation of Eastern Singapore means more exciting plans are afoot, including more jobs in the semi-conductor and aviation industries. Under the Urban Redevelopment Authority’s (URA) Master Plan 2019, the Changi Region looks set to be a bustling economic powerhouse with upcoming developments such as the future Terminal 5, Changi East Industrial Zone and Changi East Urban District.
Tampines North is envisioned to be the budding new town extension to live, work, learn and play, offering a scenic and holistic living environment with future 7.5ha Linear Park and many upcoming facilities.
Aurelle of Tampines EC is walking distance to future Tampines North MRT Station (CR6) on the Cross Island Line. Connected with the MRT is the Tampines Avenue 11 mixed-use integrated development, with a bus interchange, community club and hawker centre. In the near future, residents will enjoy improved connectivity when the Tampines North MRT station on the Cross Island Line (CRL) is ready. The CRL will be constructed in three phases, with the Tampines North station being part of the Phase 1 development, which will comprise 12 stations from Aviation Park to Bright Hill. It will offer seamless connection to public transport services and amenities for residents. Tampines EC is about 1km from the Pasir Ris MRT station, and the future integrated transport hub, Pasir Ris Mall in Pasir Ris central.
Discover a plethora of shopping and dining options at Courts Megastore, Giant Hypermarket and Ikea Tampines cluster. Tampines Regional Centre with its cluster of malls are within reach via a 10 minute drive.
For families with young children, the development is surrounded by esteemed educational institutions. Within 1-km radius, you can find renowned schools such as Angsana Primary School, Elias Park Primary School and Tampines North Primary School. Ngee Ann Secondary School, Tampines Meridian Junior College, Temasek Polytechnic, SUTD (to spell in full) are also less than 10 mins drive away.
760 units of thoughtfully designed and spacious 3 to 5-bedroom units for families to come home to. The development boasts a comprehensive range of facilities designed to enhance everyday living with spaces crafted for families to connect, bond and build cherished memories.
Families with school-going children will be glad to know that there are a number of schools around the area. They include Angsana Primary School, Elias Park Primary School, Tampines North Primary School, Meridian Secondary School, Tampines Meridian Junior College, Temasek Polytechnic, ITE College East, Singapore University of Technology and Design, and United World College of South East Asia (East Campus).
For leisure and entertainment, the residents can head down to WhiteSands, Tampines Eco Green, Downtown East Pasir Ris Town Park or Aranda Country Club etc. Tenet EC is close proximity to Changi Business Park that bring jobs closer to home.
Avid cyclists will be cheered by news of the extension of the cycling network in Tampines. Tampines cyclists can look forward to another 8km of cycling paths under a new project that increases the length of cycling paths in the town to 30km by 2026. (News) The Land Transport Authority (LTA) has said that work is underway to improve the neighbourhood infrastructure to support a more comprehensive walking and cycling network. The extension of the cycling network will better connect residents from their home to schools, workplaces, and other amenities in the area.
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Sim Lian group joint venture has won this Aurelle of Tampines for S$543.28 million. This translates to S$721 per square foot per plot ratio (psf ppr) rate for the plot.
SIM LIAN GROUP
Sim Lian Group has been creating homes for families in Singapore for over 40 years, earning an outstanding track record in construction. The Group is recognised as an established property development and construction company with a broad portfolio of residential, commercial, industrial, retail and mixed-use developments, built on the core foundations of prime location, quality workmanship and efficient space planning. The Group continues to build a property investment portfolio of commercial and investment grade shopping centres in the region.
Sim Lian Group is led by a strong and strategic management team with a collective experience of over 15 decades in the industry. The Group has seen many exciting phases of development and continues to grow from strength to strength.
The solid reputation of the company is recognised in Singapore, having ranked amongst the Top 100 Brands in Singapore for five consecutive years from 2009 to 2013 by independent brand strategy and valuation consultancy, Brand Finance. Sim Lian Group is also recognised as a top ten developer in Singapore by BCI Asia in 2015 and 2016, and was listed on the Mainboard of the Singapore Exchange for 16 years from 2000 to 2016.
Evolving in tandem with market conditions over the years, the Group remains committed to creating quality living and working spaces that make smart investments for the future of individuals, families and businesses. Read more.
