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News Release


JLL News Flash | Tender Closing for Residential Site at Tampines Avenue 10 (Parcel C)

​​"Following the recent bullish bidding for the Toh Tuck site, the top bid of $565 psf/pr​ for the subject parcel is not surprising although it is at the upper end of predictions when the site was launched in mid-March. It is still 17% higher than the $483 psf/​​​​pr paid for the The Alps Residences’ parcel in April 2015 and almost similar to The Santorini’s land price of $562 psf/pr, awarded in July 2013, before the effects of the TDSR were felt. This shows that the outlook of the top bidder is for prices to at least remain stable or turn upwards when the project is launched. The average selling price of nearby projects such as Santorini and The Alps Residences is $1,070-1,090 psf. 

Although 9 bidders is a good turnout, it is less than expected and this could possibly be due to bidders being drawn to the Stirling Road site as well as the Lorong 1 Realty Park parcel, which are more attractive sites. Tender for these two sites close on 18 May and 1 June respectively.​"