Tampines Street 95 EC site likely to attract bids up to $760M: analysts

Experts expect 4 to 8 bids.

The executive condominium (EC) site at Tampines Street 95, listed under the 2H2024 Government Land Sales (GLS) programme, is projected to attract bids up to $760m.

Justin Quek, CEO of OrangeTee & Tie, anticipates that the site will receive between five to eight bids, with the highest bid expected to range from $680 to $760 per square foot per plot ratio (psf ppr). He highlighted that the site’s prime location, near Tampines West MRT station and key amenities, significantly enhances its attractiveness to developers.

The site’s proximity to Tampines West MRT station and several primary schools, including Junyuan Primary School and St. Hilda’s Primary School, adds to its appeal. Additionally, the site is close to the SAFRA Clubhouse (Tampines) and an upcoming integrated development at Tampines Street 94, which will feature 10,500 sqm of commercial space.

“As ECs continue to remain one of the most affordable private housing options for aspiring HDB upgraders, we do anticipate keen demand for the future project here from homebuyers,” said Quek. “Nonetheless, affordability of ECs, given the current income ceilings for eligible EC buyers, will also limit the pricing pressure of bids.”

For Wong Siew Ying, head of Research and Content at PropNex, he estimates that the site could draw four to five bids and the top bid could range between $433m and $442m, translating to $715 to $730 psf ppr. 

She suggests that despite recent high land rates, the site’s desirable location will likely still attract competitive bids.

“The site’s strategic location near key amenities and the forthcoming mixed-use development next door are likely to attract strong interest from developers,” Wong noted. However, she also highlights that rising EC prices might affect buyer sentiment due to affordability constraints.

Huttons Asia CEO Mark Yip, likewise, underscores the site’s appeal due to its mature estate location and proximity to Tampines West MRT station. He anticipates up to five bidders, with the highest bid potentially ranging between $650 and $700 psf ppr.


“Tampines had quite a number of BTO launches in the past few years and there is a large pool of potential upgraders looking to upgrade to an EC,” said Yip.

He also pointed out that recent cooling measures in the HDB market are unlikely to significantly impact the new EC market, given that these measures do not affect larger HDB flats that typically feed into the EC market.