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02-10-2024, 08:51 PM
(This post was last modified: 26-08-2025, 07:08 AM by newlaunchguru.)
Singapore Housing Development announced on 1st Aug 2024 that an Executive Condominium at Jalan Loyang Besar in Pasir Ris that can yield 710 units drew four bids and a top bid of $557 million, or $729 psf ppr, from a consortium comprising Qingjian Realty, China Communications Construction and ZACD Group. The EC at Jalan Loyang Besar is now known as Boulevard Coast EC.
Developers seemed more inclined to invest in an entry-level Executive Condominium (EC) site in Pasir Ris, aimed at first-time buyers and HDB upgraders, rather than a prime private condominium plot in a popular area with a large HDB upgrader market.
The $729 per square foot per plot ratio (psf ppr) bid set a new record for a Government Land Sales (GLS) EC site, surpassing the previous high of $721 psf ppr for a Tampines Street 62 (Parcel B) site, which was awarded to Sim Lian Group in October 2023.
Developers seemed more inclined to invest in an entry-level Executive Condominium (EC) site in Pasir Ris, aimed at first-time buyers and HDB upgraders, rather than a prime private condominium plot in a popular area with a large HDB upgrader market.
The $729 per square foot per plot ratio (psf ppr) bid set a new record for a Government Land Sales (GLS) EC site, surpassing the previous high of $721 psf ppr for a Tampines Street 62 (Parcel B) site, which was awarded to Sim Lian Group in October 2023.