Property developer Hoi Hup Sunway Tampines Ltd will conduct booking and balloting for its latest executive condominium (EC) development Arc at Tampines today, after being two times oversubscribed since it accepted registrations of interest on 31 August 2011.
Many property agents said prices for the units are expected to range between S$600,000 and S$1.32 million. They noted that two-bedroom units will likely cost between S$741 psf and S$875 psf, while three-bedroom units will range from S$693 psf to S$810 psf.
Meanwhile, four-bedroom units are priced from S$674 psf to S$764 psf and penthouses are going for between S$529 psf and S$635 psf.
According to a report by Channel NewsAsia, prices of the project are similar to those of the Esparina Residences development and could form the benchmark for the three upcoming EC projects, located in Punggol, Choa Chu Kang and Tampines.
“I think amongst the eight EC projects that have been launched since October of last year, the prices of this project is probably at the higher end, compared to the other seven projects,” said Ong Teck Hui, Executive Director of Credo Real Estate.
Located near various educational institutions, including Temasek Polytechnic, The Arc at Tampines is within close proximity of the upcoming Bedok Reservoir and Tampines West MRT stations. It comprises 574 two-, three- and four-bedroom units, as well as penthouses spread across nine 16-storey blocks. It is expected to receive Temporary Occupation Permit (TOP) by December 2015.
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