Since the sales gallery of Treasure at Tampines opened to the public last Friday, March 15, it had drawn a crowd of close to 7,000 people by 7pm on Sunday, March 17. It’s no surprise why Treasure at Tampines had attracted such a turnout: It’s the biggest project launch of 2019. "We have decided to bring forward the sales launch to 23 March -- earlier than initially planned -- because of the encouraging turnout over the weekend," according to.a Sim Lian spokeswoman.
At 2,203 units, Treasure at Tampines is also the biggest private condo to date. The site area, which spans 11 football fields, contains 29 twelve-storey blocks. The project is developed jointly by Sim Lian Holdings and Sim Lian Group. The indicative average selling price is said to be $1,280 psf.
“Buoyed by the attractive indicative selling prices, potential home buyers and investors turned up at the show flat of Treasure at Tampines for the preview as expected,” says Steven Tan, managing director of OrangeTee & Tie, which is jointly marketing the project with ERA Realty Network and PropNex. “We are truly encouraged to have 7,000 visitors over the last three days. It shows that consumers can identify with the value proposition of the development.”
Given its convenient location close to Tampines Central, and an established transport network and workforce in the area, Tan is confident that sales will be “positive”. The scale of the development - with 2,203 units and 128 condo facilities – means that maintenance cost for future homeowners of Treasure at Tampines will be low, he adds.
“Interest so far has come primarily from people living in the East – in the Chai Chee and Bedok area,” says Alvin Tan, PropNex executive director and head of project marketing. “The next biggest groups have been residents in the North such as Sembawang and Yishun, as well as those in the Northeast, namely, the Punggol-Sengkang area.”
The project is a redevelopment of the former 560-unit, privatised HUDC estate, Tampines Court. Sim Lian had purchased the site en bloc in August 2017 for $970 million ($676 psf per plot ratio).