The first executive condominium (EC) site in the "forest town" Tengah has been awarded to Taurus Properties SG for $400,318,000, the Housing Board announced on Thursday (June 3).

This translates to $603 per square foot per plot ratio (psf ppr) for the 99-year leasehold site - a record land rate for an EC site under the government land sales (GLS) programme.

The bid smashed the previous record of $583 psf ppr garnered by the Sumang Walk EC site in Punggol, which was awarded in March 2018, noted PropNex head of research and content Wong Siew Ying.

It is also higher than the $576 psf ppr achieved for the EC site in Yishun Avenue 9 that was awarded last November, she added.

"We anticipate that the potential selling price of the new Tengah EC could hover around $1,190 to $1,250 psf," said Ms Wong, noting that the site's proximity to the Jurong Innovation District may attract home buyers to the project.

Located in Tengah Garden Walk - a road that has yet to be built - the site is around 22,020 sq m and has a maximum gross floor area of 61,659 sq m.

It is within walking distance of three MRT stations on the future Jurong Region Line and also close to Tengah's future car-free town centre.

Taurus Properties SG, a wholly-owned subsidiary of City Developments Limited and joint venture partner MCL Land, said it would develop around 620 residential units in total with generous landscaping.

These units will be spread across 12 blocks of up to 14 storeys each, it added.

Proposed future developments in the vicinity include a bus interchange, sports centre, community club and a polyclinic.

In addition, there are 12 plots of land zoned for education institutions within Tengah, and all are within 2km of the EC site.

Existing primary schools within a 2km radius include Shuqun Primary School and Princess Elizabeth Primary School.