Hoi Hup Realty Pte Ltd’s JV with Sunway Group has been awarded the land sale tender for the coveted EC site at Tampines Avenue 10. The keenly participated tender closed on the 15th of January, drawing a total of 7 bidders in all with Hoi Hup Sunway submitting the highest bid of S$434.4m, or S$578 psf of GFA. Hoi Hup Sunway intends to develop a luxury EC development of up to 700 units on this 24,938sqm site which can yield up to a maximum of 69,829sqm GFA. The site provides a rare opportunity to develop a luxury EC development within a matured estate. Furthermore, with the last EC launched in the east region being in 2012, there is a pent-up demand for this asset class that is in limited supply in the east as well as the entire island.
Hoi Hup Realty
An established property developer in Singapore, Hoi Hup Realty Pte Ltd is committed to creating living spaces of the highest quality, comfort, functionality and style. It has won numerous accolades, including the 5CA Quality Excellence Award - Quality Champion (Platinum) in 2018 and 2019, as well as 5CI Asia Top 10 Developers Award in 2017, 2018 and 2019. Upcoming projects include Ki Residences at Brookvale and Tampines Ave 10 Executive Condominium.
As the property division of Sunway Group, Sunway Developments Pte Ltd is part of a leading property-construction group that is listed on Bursa Securities, Malaysia. It has vast experience in managing and developing innovative and quality residential and non-residential properties, which include retail, leisure, healthcare, hospitality and other commercial assets.