Tampines Court Sold For $970M In Biggest En Bloc Sale In 10 Years

Tampines Court En Bloc Biggest by Sim Lian

Tampines Court (now Treasure at Tampines) was successfully sold to Sim Lian in one of the biggest collective sales ever concluded in Singapore. The huge plot of en bloc land at Tampines Steet 11 at 702,164 sqft, is transacted at a price of $970M. According to analysts, the breakeven price works out to about $1,050 psf to $1,150 psf.

Upon redevelopment, the new project will be launched as Treasure at Tampines and is expected to offer 2,200 residential units. The location of the Treasure condo is highly popular due to its position as Regional Centre in the East of Singapore and its proximity to Changi Airport and Changi Business Park. Despite the expected demand, the new Tampines condo is priced at a very accessible price point and therefore makes for an excellent private property choice for HDB upgraders, first timers and investors. The potential upside is evident in the overwhelming sales during its weekend launch where over 55% of launched units were snapped up. Backed by the strong track record of the developer, Treasure at Tampines has gone on to be one of top selling mass market condominium since 2019.

Source: https://www.todayonline.com/business/property/tampines-court-sold-biggest-en-bloc-sale-decade

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