HDB launches Tampines Avenue 11 and Plantation Close GLS sites for tender

Dec 23, 2022

THE Housing and Development Board (HDB) on Friday (Dec 23) launched two residential sites at Tampines Avenue 11 and Plantation Close for tender, under the government land sales (GLS) programme’s confirmed list for the second half of 2022. 

The tender for both land parcels – which have a 99-year lease period – will close at noon on Jun 27, 2023. Altogether, they can potentially yield about 1,685 residential units, HDB said in a press statement. 

The parcel at Tampines Avenue 11 has a site area of 50,679.7 square metres (sq m) and a maximum permissible gross floor area (GFA) of 126,700 sq m. The maximum building height is 64 m above mean sea level. 

The mixed-use commercial and residential development slated for the site is expected to yield about 1,190 units and must be integrated with a bus interchange, community club and a hawker centre. 

Meanwhile, the executive condominium (EC) development on the Plantation Close parcel spans 16,441.2 sq m, with a maximum GFA of 46,036 sq m and maximum building height of 70-80 m above mean sea level. 

The site is projected to hold 495 EC units.

Huttons senior director of research Lee Sze Teck expects keen interest for both sites, with the top bid for the Tampines Avenue 11 site potentially crossing the S$1,000 price per square foot per plot ratio (psf per) mark. 

He added that the development will inject “much needed amenities to the area”, considering that there are at least seven uncompleted built-to-order projects and 1 EC project in the Tampines North area. 

“However, the huge site and quantum of more than S$1 billion will likely attract consortiums to bid so as to share the risks,” he noted. 

Analysts from PropNex Realty and OrangeTee & Tie predict between four to seven bidders for for the Plantation Close EC site, with a projected top bid of around S$620 to S$650 psf ppr. 

PropNex Realty’s Wong Siew Ying attributes this to the site’s location in a “new exciting housing precinct”, near Jurong Lake District and between the future Tengah Park MRT station and Bukit Batok West MRT station on the upcoming Jurong Region Line. 

Steven Tan, chief executive officer of OrangeTee & Tie, added that such ECs will remain popular among homebuyers, despite the latest cooling measures and surging interest rates.

For instance, Copen Grand EC in Tengah and Tenet EC in Tampines had experienced “strong sales” when launched in October and November, respectively, he said.

This is because ECs are still more affordable and value for money than new private condos, said Tan, especially as prices of new condos continue to climb and the price gap between a new condo in the suburbs and new EC remains “significant”, ranging between S$500 psf and S$700 psf.

“Buyers who missed the buying opportunity at Copen Grand may be keen to purchase this project,” he noted.

Tenders received for the Plantation Close development will be evaluated under a modified concept and price revenue tender system, which requires tenderers to submit an alternative bid on top of a base prefabricated prefinished volumetric construction (PPVC) bid – a building method where large modules complete with finishes are manufactured in factors and assembled on-site.

The alternative bid may use non-PPVC technology or a hybrid of technologies to potentially enhance the project’s productivity. PPVC bids will automatically qualify for evaluation, while any alternative bid will be required to submit a write-up to demonstrate the feasibility of the project. This will be assessed by the Concept Evaluation Committee, chaired by the Building and Construction Authority. 

Unlike other tender systems, no detailed concept design proposal is required.

https://www.businesstimes.com.sg/pro...s-sites-tender