The tender for a new Executive Condominium (EC) site at Admiralty Walk was launched on June 30. This government land sale (GLS) site is the second EC plot that the government has released for sale after it rolled out significant changes to the EC scheme last month. Nearly all of the EC sites launched for sale by the government in recent years have attracted strong developer participation, which has led to competitive land bids that contribute to the overall increase in EC prices over the past two- to three-years. However, most market analysts believe that the 138,782 sq ft plot along Admiralty Walk, with its less than compelling locational attributes, could see most developers approach this tender cautiously. The site has a gross plot ratio of 3.5, and if it is developed could yield up to 450 EC units. However, it is one of the furthest residential sites from the nearest MRT station, Sembawang MRT station on the...