Executive condo (EC) Aurelle of Tampines drew over 9,000 visitors to the sales gallery over the four days from Feb 22 to 25, says Sim Lian Group executive director Kuik Sing Beng.
Scheduled for launch on March 8, indicative prices at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit from 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom from 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom of 1,356 sq ft.
Aurelle of Tampines marks the ninth EC project to be launched in Tampines since the 602-unit Simei Green Condo in March 1997, says Mark Yip, CEO of Huttons Asia. The average price for units at Simei Green was around $411 psf, based on caveats lodged in March and April 1997. Today, the average price of $1,094 psf reflects a 166% appreciation.
For the Kuik family-controlled Sim Lian Group, Aurelle of Tampines marks its fifth EC project in Singapore since 2001. The developer’s maiden EC project was the 248-unit The Dew in Bukit Batok, where the average price of units sold in the first three months of launch — from May to July 2001 — was $385 psf. According to lodged caveats, the average price of units that changed hands last year was $1,141 psf, representing a 196% capital gain over 25 years.
The 670-unit Tampines Trilliant was launched in early 2012 and completed in 2015 (Photo: Sim Lian Group website)
The Dew was followed by the launch of The Tampines Trilliant, a 670-unit EC at Tampines Central 7 in early 2012. Sim Lian launched two EC projects in 2016: the 534-unit Wandervale in Choa Chu Kang and the 504-unit Treasure Crest in Sengkang.
Tampines has been a stronghold for Sim Lian, says Kuik, with the real estate developer having delivered five residential projects in the regional centre over the past 25 years. Sim Lian also completed two private condos in Tampines: the 696-unit Waterview (completed in 2014), and the 2,203-unit Treasure at Tampines (completed in 2023), considered the largest condo in Singapore.
Furthermore, the developer delivered two HDB projects under the Design, Build and Sell Scheme (DBSS), which was suspended in 2011. The 616-unit Premiere @ Tampines was launched in October 2006, attracting nearly 6,000 applications, and was completed in 2008. The 708-unit Centrale 8 followed, launched in 2011 and completed in 2014.
Tampines ECs in the pipeline
In addition to the upcoming Aurelle of Tampines and The Tampines Trilliant, Sim Lian has a third EC project in the pipeline. The EC site is situated at Tampines Street 95 and is estimated to have 560 units. Sim Lian won the site in a land tender last October with a bid of $456 million, which translates to $768 psf per plot ratio (ppr), and has set a new benchmark for EC land prices.
The project at Tampines Street 95 is likely to hit the market sometime in 1Q2026, bringing Sim Lian’s tally to three EC projects in Tampines. This brings the number of EC projects in Tampines to a grand total of 10.
Next door to Aurelle of Tampines is the 618-unit EC Tenet by joint developers Qingjian Realty and Santarli Realty. Launched in December 2022, the project has sold 617 units at an average price of $1,385 psf. It has just one available unit for sale based on caveats lodged as of Feb 21. Hence, there is no competing supply in the area, notes Ismail Gafoor, CEO of PropNex.
The preview of Aurelle of Tampines coincided with the launch of the neighbouring ParkTown Residence (pictured above), which is part of a mixed-use development integrated with a transport hub (Photo: UOL Group/CapitaLand Development)
The preview of Aurelle of Tampines also coincided with the launch of the neighbouring ParkTown Residence, which is part of a mixed-use development integrated with a transport hub. Over the weekend of Feb 22-23, joint developers UOL Group and CapitaLand Development sold 1,041 units (87%) out of 1,193 units at an average price of $2,360 psf.
The strong sales at ParkTown Residence could “encourage buyers to enter the market now”, says Christine Sun, OrangeTee Group chief research and strategist. “These buyers, especially those who have been on the sidelines, may feel that since many people are making a purchase now, it could be a favourable time to make a move.”
Prior to ParkTown Residence, the last new private condo launch was Treasure at Tampines in 2019. Despite being the largest condo in Singapore, the 2,203-unit Treasure at Tampines was sold out within three years of its launch in March 2019, notes PropNex’s Gafoor.
“Both private condos and ECs in Tampines have done well, reflecting the keen interest in private homes there,” he adds.
Artist’s impression of the 760-unit Aurelle of Tampines, with 14 blocks of 14-storeys (Picture: Sim LIan Group)
EC prices ‘to creep up to $1,800 psf’
Aurelle of Tampines, located within a five-minute walk of ParkTown Residence, will therefore enjoy proximity to its facilities — the upcoming Tampines North MRT Station (on the Cross Island Line), bus interchange, community club, hawker centre and shopping mall.
“It is extremely rare to find an EC within a short walk of an MRT station and integrated transport hub,” says Huttons’ Yip. “Currently, only Aurelle of Tampines and Esparina Residences fit the bill.”
The indicative prices of Aurelle of Tampines start from $1,651 psf for a 1,023 sq ft, four-bedroom unit. However, more compact units and higher-floor units could see prices breach the $1,700 psf mark, says Eugene Lim, key executive officer of ERA Singapore.
Three-bedroom units at Aurelle of Tampines start from 840 sq ft, with prices from $1.417 million ($1,687 psf) (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Based on caveats, the average price of the 573-unit Esparina Residences in Sengkang has more than doubled to $1,747 psf from its launch price of $818 psf in October 2010. The most significant gain in Esparina Residences was more than $1.3 million, according to Huttons’ Data Analytics. “Buyers of Aurelle of Tampines may also see such gains,” says Yip.
Sim Lian’s upcoming EC at Tampines Street 95 shares attributes similar to those of Aurelle of Tampines, as it will be next to a mixed-use project across from Tampines West MRT Station (on the Downtown Line), adds Yip. He, therefore, expects the EC to see “equally strong demand”.
Yip is expecting prices of new ECs to “creep upwards to $1,800 psf eventually”.
Most EC projects in a mature estate
According to research by Huttons Data Analytics, Tampines has the most EC projects among the mature HDB estates, which include Ang Mo Kio, Bishan and Pasir Ris.
Including Aurelle, Tampines has nine EC projects to date and ranks among the three HDB estates with the highest concentration of ECs — the other two are Sengkang (12 EC projects) and Punggol (nine EC projects), based on research by Huttons Data Analytics.
“EC launches depend on the government’s release of land for bids under the Government Land Sales (GLS) programme,” says OrangeTee’s Sun.
In recent years, Sun adds that the government has made more land available to construct ECs in Tampines, Punggol, and Sengkang. “As a result, we have seen more launches in these locations.”
She attributes the strong take-up at ECs to the high number of flats reaching their five-year minimum occupation period (MOP) in these areas. “Hence, many HDB owners are looking to upgrade to private housing,” adds Sun.
According to HDB’s latest annual report (2023-2024), Tampines has the highest number of HDB flats – 82,465 units out of a total of 1.13 million across all the HDB towns as of March 2024 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Town with the most HDB dwellings
According to HDB’s latest annual report (2023-2024), Tampines has the highest number of HDB flats (82,465 units) out of a total of 1.13 million across all the HDB towns as at March 2024. HDB dwelling units in Tampines therefore account for 7.3% of flats island-wide.
Tampines also saw an average of 1,830 HDB resale transactions in the past five years — among the highest in Singapore, notes ERA’s Lim. “This would mean higher upgraders’ demand, with more transactions taking place,” he adds.
On Feb 22, the government announced a five-year master plan for Tampines that will enhance connectivity across the regional centre by 2027. It will see the addition of a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total cycling network in Tampines to 40km.
The new infrastructure will make Tampines “Singapore’s most well-connected 20-minute town”, where “residents will enjoy improved accessibility, reducing the need for car ownership”, notes ERA’s Lim.
“With a strong presence in this region, including past projects like The Tampines Trilliant and our upcoming EC project in Tampines, we recognise the immense potential these enhancements bring,” says Sim Lian’s Kuik.
Http://www.psychobilly.com/report.php?id=205125 (December 30, 2011)
