Tampines Set To Welcome Yet Another New Mixed-Use Project

It is often said that proximity to amenities and transport links help to support property values and improve rentability. Little wonder, then that many homebuyers and investors are seeking out mixed-use projects or integrated developments, where shops and eateries are situated on-site, frequently in a retail podium below the residential towers.

Homes in such developments tend to sell quickly, with convenience being top of mind for many buyers. The good news is, Tampines will soon have not one but two new mixed-use projects coming up. The first is an integrated development located at Tampines Avenue 11, and the latest being a commercial and residential project in Tampines Street 94. It will likely become a new focal point in the neighbourhood, and bring greater vibrancy to the area.

In a government land sales tender that closed on 19 September 2024, the Tampines Street 94 site fetched 6 bids with a top bid of $668.3 million - which translates to a land rate of $1,004 psf per plot ratio - from a joint venture between Hoi Hup Realty and Sunway Developments.

Appealing location for own-stay and investment

Tampines - the first regional centre to be built in Singapore, when it was developed in the 1990s - is one of the most popular housing estates among buyers. The town is mainly served by three malls, Tampines Mall, Tampines One, and Century Square; there are also big box retail offerings such as the Giant hypermart, IKEA, and Courts megastore in Tampines North. In a way, the Tampines town is quite self-sufficient and residents do not need to venture far for daily necessities.

Furthermore, the upcoming Tampines Street 94 plot will be a mixed development with commercial offerings, which will bring even more convenience to future residents. Other amenities near the project site include the SAFRA Clubhouse (Tampines), as well as the Tampines Round Market and Food Centre. Meanwhile, the Jewel Changi Airport is less than 15 minutes' drive away.

Nature lovers will be glad to know that the mixed-use project is about 600m from the Bedok Reservoir Park, which is part of the Eastern Coastal Loop of the Park Connector Network. It also provides a variety of recreational offerings, with jogging and walking tracks, a floating deck to take in the view of the reservoir, fitness stations, and rentals for kayaks and dragon boats.

Wide range of schools

The Tampines Street 94 project will appeal to families as it is close to several schools, from Primary to Tertiary levels. It is within 1-km from St. Hilda's Primary School, Tampines Primary School, and Junyuan Primary School.

Meanwhile, Tampines Secondary School, St. Hilda's Secondary School, Spring Field Secondary School, Junyuan Secondary School, Temasek Polytechnic, ITE College East, and the Singapore University of Technology and Design are also not far from the site. There is also the United World College of South East Asia (East Campus) in Tampines Avenue 10 which may be attractive to expatriate families.

Connectivity

One of the top selling points of this project will likely be its proximity to the Tampines West MRT station (Downtown Line), which is just across the site. From there, commuters are just five stops from the MacPherson MRT station which is an interchange station for the Circle Line that links up to a hosts of train lines - three stops to Serangoon (North East Line), five stops to Bishan (North South Line), and one stop to Paya Lebar (East West Line).

The site has frontage towards main roads such as Bedok Reservoir Road and Tampines Avenue 1, and the Pan Island Expressway is also easily accessible, which will be a plus for those who drive.

Exciting future developments nearby

Tampines town itself is a mature estate with well-established amenities, and it could stand to benefit further from future developments around it. For instance, it is not far from the Paya Lebar Air Base site which will be redeveloped, after the air base is relocated from the 2030s. This will free up land for more housing and amenities to be built.

Meanwhile, there may potentially be some growth upside arising from the transformation of Changi as an economic gateway and local hub. The expansion of the Changi Airport, and the development of the Changi East Industrial Zone, and Changi East Urban District could bring more jobs to the area, thereby boosting the demand for homes in the area, in time to come.

About the developer

Hoi Hup Realty is a well-established local property developer founded in 1983. It has a strong track record in the development of residential properties, having successfully completed a diversified portfolio of property developments comprising private condominiums, landed housing, cluster-strata housing, executive condominiums, and mixed-use commercial developments. Some of their notable projects include Ki Residences at Brookvale, Terra Hill and The Continuum.

Sunway Group is a Malaysian conglomerate with diverse business interests in property, construction, education, healthcare, retail, and hospitality. In Singapore, Sunway Group's presence is primarily through its subsidiary, Sunway Developments Pte Ltd, which has been involved in numerous residential and commercial projects with its long-time partner, Hoi Hup Realty, since their first joint venture project in 2007.