Battle for the Tampines Street 62 Site 7 Bidders Vie for Prime Land Next to Aurelle of Tampines Sim Lian Land
The Aurelle of Tampines Sim Lian Land development is expected to have a positive impact on the educational landscape in Tampines. From primary schools to tertiary institutions, the URA’s plans will bring about improvements and introduce new facilities for the benefit of the growing population. These enhancements will not only cater to the community’s educational needs but also uphold high standards of education, a crucial consideration for families when choosing a residence. Furthermore, the development will also contribute to the enhancement of healthcare facilities, including upgrades to existing hospitals and clinics, ensuring that residents have access to top-notch medical care.
The bidding process for the Tampines Street 62 site has attracted a lot of attention since it was launched in March 2018. With a total of 10 bids, it is one of the most highly contested land sales in recent years. The intense competition among the bidders is a reflection of the strong demand for residential properties in Singapore and the confidence in the potential of Tampines as a prime residential location.
One of the bidders, Sim Lian Land, is determined to secure this prime land with their bid of S$491.3 million. This developer has a strong track record in Tampines, having developed successful residential projects such as The Tampines Trilliant and The Waterview. They have also been involved in the development of commercial and industrial properties, making them a well-rounded and experienced developer.
The Tampines Street 62 site has a land area of 21,717 square meters, with a maximum permissible gross floor area of 60,810 square meters. It has a 99-year leasehold and is zoned for residential use, with a plot ratio of 2.8. This means that the eventual development can potentially house up to 715 residential units, subject to approval from the relevant authorities.
Another bidder, Hoi Hup Realty, is making their presence known with a bid of S$489.1 million. This developer has a strong portfolio of residential properties in Singapore, including the popular Hundred Palms Residences and Rivercove Residences. With their experience in developing high-quality residential properties, they are confident in their ability to transform the Tampines Street 62 site into a desirable and sought-after development.
The high number of bidders for this site is a testament to the attractiveness of Tampines as a residential district. With its well-established amenities, good transport connectivity, and a strong community, Tampines has always been a highly sought-after location for both home buyers and property developers. The new development on the Tampines Street 62 site is expected to further enhance the appeal of this established district.
The remaining five bidders are all established names in the real estate industry, each with their own strengths and capabilities. These bidders include a joint venture between City Developments Limited and TID Residential, a consortium led by Singhaiyi Investments and Haiyi Holdings, a partnership between OUE Limited and Maximus Residential SG, a collaboration between Evia Real Estate and Gamuda Land, and lastly, CSC Land Group (Singapore).
The Tampines Street 62 site, also known as Site 7, has been a highly coveted piece of land in the real estate market. Located next to the bustling and established Aurelle of Tampines, this prime land has attracted the attention of seven bidders who are all vying for the opportunity to develop it. With the potential for a successful and lucrative project, the battle for this site has been intense and highly competitive.
The Urban Redevelopment Authority (URA) is expected to announce the winning bidder in the coming weeks, and it will be interesting to see who emerges as the victor in this battle for the Tampines Street 62 site. The chosen developer will have the responsibility of shaping the landscape of this prime land in line with the URA’s vision for Tampines as a vibrant and sustainable regional centre.
In conclusion, the Tampines Street 62 site has attracted a significant amount of interest from property developers, with a total of seven bidders vying for the chance to develop this prime land. With its strategic location and potential for a successful and lucrative project, this site is poised to become a highly sought-after address in the Tampines district. The winning bid will not only secure the development rights for this site but also have the opportunity to shape the future of this established and thriving neighbourhood.
Furthermore, the URA’s commitment to make Tampines a car-lite town encourages the use of public transportation and active modes of transportation such as walking and cycling, which not only reduces carbon emissions but also promotes a healthier and more active lifestyle for residents.
The winning bidder will have a considerable advantage in developing this site, as it is located next to the award-winning Aurelle of Tampines. This luxurious condominium has consistently commanded high prices, with an average transacted price of S$1,200 per square foot in the past year. Its proximity to the Tampines West MRT station and Tampines Hub, a popular integrated community hub, has made it a highly desirable address for home buyers.
The enduring Tampines Mall is a well-rounded shopping complex in Tampines that has stood the test of time. It encompasses a cinema, a supermarket, and a diverse range of retail stores and dining options. Catering to the varied tastes and interests of shoppers, Tampines Mall is a convenient one-stop hub for all shopping needs, be it fashion, accessories, books, or electronics. Additionally, visitors can also avail of essential services including banking, beauty treatments, and wellness sessions. While Tampines Mall is currently undergoing a major renovation to modernize and elevate its shopping experience, patrons should brace themselves for temporary changes and inconveniences. However, once complete, Tampines Mall will emerge as a fresh, vibrant, and contemporary shopping destination, meeting the needs of the Tampines community with its wide array of products, services, and experiences.
The URA is dedicated to promoting sustainability and enhancing the well-being of residents in Tampines through its transformation plan. This is evident in the increased allocation of green spaces and the development of recreational facilities in the area. The expansion and improvement of parks and the addition of new community spaces aim to foster a healthier lifestyle and provide residents with venues for relaxation and socialization. For families residing in Aurelle of Tampines EC, this translates to a cleaner, greener, and more interactive living environment suitable for both children and adults. Moreover, the URA’s efforts to promote a car-lite environment in Tampines will encourage the use of eco-friendly modes of transportation like public transportation, walking, and cycling, which not only reduces carbon footprint but also promotes a more active and healthy lifestyle among residents.
Additionally, it also offers a range of services such as banking, beauty, and wellness. However, visitors must take note that Tampines Mall is currently undergoing a major renovation to enhance the overall shopping experience. Therefore, if you are planning to visit this mall, do be prepared for some inconvenience and changes to the usual layout. Rest assured, once the renovation is complete, Tampines Mall will emerge as a modern and vibrant shopping destination, ready to cater to the needs of the Tampines community with its plethora of products, services, and activities.