The Business Times, 14 Nov 2022, Mon 1:17 PM
By Michelle Zhu
DEVELOPERS of Tenet have reported over 5,000 visitors at the launch weekend of the latest executive condominium (EC) project at Tampines Street 62.
The project attracted “thousands of interested buyers” to its show gallery over the weekend, according to Qingjian Realty’s deputy general manager Yen Chong on Monday (Nov 14).
“The strong demand is promising, and we look forward to another two weekends’ performance,” she said.
Tenet EC has been open to the public for preview via appointment since Nov 12. Eligible buyers can submit their e-applications up until Nov 28.
The 618-unit project comprises 11 tower blocks of 15 floors and is located within a five-minute walk to the upcoming Tampines North MRT station, which is due to open in 2030.
Indicative prices start from S$1.1 million for a three-bedroom, 893-square-foot (sq ft) deluxe plus study unit. There are 140 of such units available, while another 223 three-bedroom premium plus study units at 980 sq ft each are going from S$1.27 million.
A total of 210 four-bedroom plus study units ranging from 1,098 to 1,367 sq ft are on sale from S$1.44 million. There are also 45 units of five-bedroom plus study units ranging from 1,561 to 1,572 sq ft starting from S$2.08 million.
Highlighting plans for communal facilities such as a floating infinity pool and a karaoke studio room, Santarli Realty’s general manager Lai Kwong Meng said the project is “unlike a typical EC” as it is “designed for the future and for an everyday staycation experience for families”.
Tenet EC is a joint venture between Qingjian Realty and Santarli Realty – the real estate development arms of Qingjian Group and Santarli Construction, respectively – as well as Heeton Holdings.
In July 2021, the project’s land plot was awarded to a Qingjian Realty-led consortium with its top bid of S$442 million or S$659 per square foot per plot ratio (psf ppr), which exceeded the forecasts of most property consultants and came in 1.4 per cent higher than the second-highest offer of S$650 psf ppr.
Tenet EC’s launch comes less than a month after that of Copen Grand EC in Tengah, which was reportedly 73 per cent-sold on its launch day with units going at an average price of S$1,300 psf.
The 639-unit project is developed by City Developments Limited and MCL Land.