PropNex Picks

July 26, 2021

Special Highlight on TENET : Zooming in to the Tampines St. 62 EC site

Special Highlight on TENET : Zooming in to the Tampines St. 62 EC site

By PropNex Research and editorial

TENET is a new EC project located within Tampines, Singapore’s first regional centre - a thriving and vibrant suburban hub that is home to a large segment of the population in the East. It is today a key employment node and its proximity to the Changi Business Park and Changi Airport spurs economic activity, generating buzz in the area. There are also plenty of amenities and recreation options in and around Tampines.

With so much going on, it is little wonder that Tampines remains a highly sought-after location among many home buyers. Those planning to snag a new executive condominium (EC) unit in Tampines can look forward to the upcoming new EC project TENET in Tampines North.

Qingjian Realty and Santarli Construction placed the record-smashing top bid for the plot in July 2021. Its bid of $422 million for the TENET Tampines St. 62 EC site works out to a land rate of $659 per square foot per plot ratio (psf ppr) – a record high for a GLS EC site. This land rate trumps the previous record of $603 psf ppr set by Tengah Garden Walk EC which was awarded in June 2021.

TENET - Commercial hub and a hive of activity
Established in 1992, the Tampines Regional Centre has continued to flourish. It is home to many large corporations including financial services firms. According to the latest Singapore population census, some 84,200 employed residents aged 15 years and over, or 3.8% of the resident workforce, worked in the Tampines planning area in 2020.

The nearby Changi Business Park and Changi Airport also offer employment opportunities closer to home. Meanwhile, the ongoing transformation of Eastern Singapore means more exciting plans are afoot, including more jobs in the semi-conductor and aviation industries. Under the Urban Redevelopment Authority’s (URA) Master Plan 2019, the Changi Region looks set to be a bustling economic powerhouse with upcoming developments such as the future Terminal 5, Changi East Industrial Zone and Changi East Urban District.

TENET - Retail, rest and recreation
With three retail malls in Tampines – Tampines Mall, Century Square, and Tampines 1 – as well as Jewel at Changi Airport, Changi City Point, and an upcoming mixed-use development in Pasir Ris central, future residents of the new Tampines St 62 EC will not need to venture far for their daily necessities or to indulge in a bit of weekend retail therapy. Large format retail stores Ikea, Courts, and Giant hypermart are also minutes’ drive from the EC site.

Apart from shopping, those looking for more lifestyle and entertainment options can head on to the Downtown East resort in Pasir Ris as well as Our Tampines Hub (OTH), which is Singapore’s largest integrated community and lifestyle hub. The OTH is a mega development offering sports facilities, a regional library, community club programmes, a hawker centre and retail shops.

There are also a wide variety of green, blue and recreation spaces to take in the sights and sound of nature. Nearby Sungei Tampines and Tampines Eco Green Park, with its open grasslands, freshwater wetlands and a secondary rainforest, offer a quick getaway to rest and recharge. It is also a good spot for nature appreciation, bird watching, and hiking. A short distance away, the Pasir Ris Town Park and the large Pasir Ris Park further widen residents’ recreation options.

Families with school-going children will be glad to know that there are a number of schools around the area. They include Angsana Primary School, Elias Park Primary School, Tampines North Primary School, Meridian Secondary School, Tampines Meridian Junior College, Temasek Polytechnic, ITE College East, Singapore University of Technology and Design, and United World College of South East Asia (East Campus).

TENET - Transport infrastructure and connectivity
The Tampines St 62 EC is about 1km from the Pasir Ris MRT station, and the future integrated transport hub in Pasir Ris central. In the near future, residents will enjoy improved connectivity when the Tampines North MRT station on the Cross Island Line (CRL) is ready. The CRL will be constructed in three phases, with the Tampines North station being part of the Phase 1 development, which will comprise 12 stations from Aviation Park to Bright Hill.

Avid cyclists will be cheered by news of the extension of the cycling network in Tampines - which is slated to triple to 21km by 2022. The Land Transport Authority (LTA) has said that work is underway to improve the neighbourhood infrastructure to support a more comprehensive walking and cycling network. The extension of the cycling network will better connect residents from their home to schools, workplaces, and other amenities in the area.

The LTA added that the network will include trunk cycling routes between Tampines and neighbouring towns such as Pasir Ris and Simei, as well as to the Changi Business Park and Singapore EXPO Convention & Exhibition Centre. This will help to support Tampines’ growth as Singapore’s eastern employment centre.

About the developer
Qingjian Realty is an award-winning developer that focuses on property development in the residential, commercial, and industrial sectors. It has deep experience in the development of residential properties in Singapore, including projects such as Forett At Bukit Timah, JadeScape, Le Quest, iNz Residence, The Visionaire, and Ecopolitan.

Established in 1983, Santarli Construction undertakes a range of building projects from institutional to industrial, and carries out engineering works in both the private and public sectors.

More PropNex Picks