Tampines Avenue 11 mixed-use mega site and second EC site in Tengah launched for sale

The government has released a total of seven residential sites for sale under the GLS programme in the second half of 2022.

HDB has launched two sites for sale – the mixed-use site in Tampines Avenue 11 and the EC site in Plantation Close – while the URA has opened one mixed-use site in Marina Gardens Lane.

The Government has released seven residential sites for sale under the second-half 2022 Government Land Sales (GLS) Programme. The sites are located in Tampines Avenue 11, Plantation Close, and Marina Gardens Lane. The Tampines Avenue 11 site is a mixed-use site, which can potentially yield 1,190 residential units and 14,000 sq m of commercial space. The Plantation Close site is an Executive Condominium (EC) site, which can potentially yield 495 residential units. The Marina Gardens Lane site is also a mixed-use site, which can potentially yield 1,320 residential units and 11,000 sq m of commercial space.

To encourage developers to adopt innovative and productive construction methods, HDB has piloted a modified concept and price revenue tender system for the Plantation Close EC site. This means that developers have the option to submit bids of alternative construction methods, besides the standard prefabricated prefinished volumetric construction (PPVC) technology, as long as they can yield the expected productivity levels. Developers are not expected to submit a detailed concept design proposal at this stage. This is in line with the Government’s push to raise building productivity.

Analysts expect the Plantation Close EC site and the Tampines Avenue 11 site to draw considerable interest from developers. The Plantation Close EC site is located near Jurong Lake District, between the future Tengah Park MRT station and Bukit Batok West MRT station on the Jurong Region Line. The Tampines Avenue 11 site is integrated with a bus interchange, a community club, and a hawker centre.

Ms Wong Siew Ying, head of research and content at PropNex Realty, expects the Plantation Close site to attract five or six bids, with the top one estimated at around $297 million to $322 million, which translates to a land rate of about $600 to $650 per sq ft per plot ratio (psf ppr). Huttons Asia senior director of research Lee Sze Teck expects the top bid for the Tampines Avenue 11 site to cross $1,000 psf ppr, with a total quantum of more than $1 billion.

Tenders for both sites will close at noon on June 27, 2023, together with the Marina Gardens Lane site launched by the Urban Redevelopment Authority earlier in December. With the launch of these seven residential sites, the Government is providing more housing opportunities for the public.