Tampines Avenue 11

The plot at Tampines Avenue 11 is zoned for Commercial and Residential use, with a site area of around 50,679.7 sqm. Approximately 1,190 units can be built in this area, with a large commercial area. The upcoming development will serve as another commercial and retail hub for Tampines.

The site is an integrated development, given the direct connection to the future Tampines North MRT station. Integrated developments remain attractive to buyers, given the convenience of having a transport node and shopping amenities at one’s doorstep. There are many BTO sites located close by; hence, there will likely be heavy footfall to the retail and commercial hub. Therefore, this site will be attractive to developers.

For the residential units, there is likely to be strong pent-up demand from HDB upgraders as private housing supply in the vicinity remains limited. The only project nearby is the EC Tenet at Tampines St 62, which sold extremely well on its weekend launch The project moved more than 70 per cent of the total units, indicating a good appetite for private homes in the area. No other new private projects have been launched in Tampines in recent years, and other projects in Tampines are completely sold out, such as the condo Treasure at Tampines, and the EC Parc Central Residences. Moreover, future supply is low, with only another EC plot at Tampines St 62 to be put up for tender in March 2023.

This site is large, translating to a bid quantum exceeding S$1 billion. Developers may generally be cautious of the rising interest rate environment, economic uncertainties, and high construction costs. Hence, we expect around 2 to 5 bidders, with the highest bid price of around S$1,150 to S$1,250 psf ppr.