Press Release
27 June 2023
Closing of land
tenders at Tampines Ave 11 and Plantation Close
FOR IMMEDIATE RELEASE
The Housing and Development Board (HDB) has closed the tender for the sites at Tampines Ave 11 and Plantation Close today.
Tampines Ave 11
There were a total 3 bids for this land parcel, and the highest bid was S$1,206,390,880, or S$884.58 psf ppr from Topaz Residential Pte. Ltd. and Topaz Commercial Pte. Ltd.
There was healthy demand for this plot. The lack of malls in the area to cater to the residents could have made developers keen on acquiring this parcel. There is a large catchment area from the surrounding BTO flats, as well as 2 upcoming EC projects (Tenet and the EC project at Tampines St 62 Parcel B), with few amenities nearby. Hence, the future commercial and retail hub at this site would enjoy heavy footfall from the residents nearby, making this site attractive to developers.
Moreover, the large number of BTO flats nearby may also contribute to stronger upgrader demand for the future project here, which will be integrated with amenities such as a bus interchange, hawker centre, and other retail and commercial shops. The project will also be connected directly with the Tampines North MRT station on the Cross Island Line.