Build more exec condos and expand the pool of eligible buyers

THE tender for an executive condominium (EC) site at Bukit Batok West Avenue 5, which closed last week, drew a top bid from City Developments Limited (CDL) of S$336 million or S$626 per square foot (psf) per plot ratio. CDL’s top bid was just 0.2 per cent ahead of the next highest bid.

For the H2 2022 Government Land Sales, the confirmed list has six sites with private residential components, which can yield about 3,505 homes, including one EC site in Tengah that can yield about 495 units.

The EC is a hybrid of public and private housing. Built and sold by private developers, ECs offer features of condominiums. A typical EC sits within a gated compound with security, and has amenities such as swimming pool, clubhouse, gym and playground.