Wing Tai would be launching this new condo on their old HQ land along Tampines Road near the Kovan MRT probably by the end of July 2013. TOP would be 2017.
The use of the name TEMBUSU is iconic because the Tembusu tree is the logo of Wing Tai. Furthermore, it would be built on the land where Wing Tai saw great growth of their business. It would be indeed be built on a blessed piece of land.
Another condo, Yi Mei Gardens, situated next to Tembusu had just been en-blocked. Together with building costs and profits, the new developer who bought over Yi Mei Gardens would, I think, have to sell above $1600 psf at the minimum. This means the value of the whole area is expected to go up once development come in.
Most important of all, the Tembusu is built on blessed freehold land..... on land which early Chinese Christian settlers opened when they left China to seek a better life in early Singapore. (That's why early Hougang has a large Teochew Christian population.)
See this clip for details : http://youtu.be/n6ToHl-E778
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