Elias Green Launched for Collective Sale at SGD928 Million for Sale by Tender

SINGAPORE, 5 March 2025 – ERA Realty Network (“ERA”) is pleased to announce its appointment as the sole and exclusive marketing agent for the collective sale Elias Green Condominium located at 1, 3, 5, 7, 9, 11, 13 & 15 Elias Green, Singapore 519959 to 519966 (“Elias Green”). Elias Green will be launched for sale by public tender on 6 March 2025 at a guide price of SGD928 million.

Elias Green condominium, with a remaining lease tenure of approximately 65 years, sits on a land area of 48,019.0 sq m (516,871 sq ft approximately). Under the Master Plan 2019, it is zoned for Residential use at a gross plot ratio of 1.4.

Elias Green Condominium consists of 419 apartment units across several blocks, including a part-6/7-storey block, an 8-storey block, two 13-storey blocks, a 14-storey block, a 15-storey block and a 16-storey block. Unit sizes range from 127 sq m to 152 sq m.

At the guide price of SGD928 million, the land rate translates to SGD1,355 per square foot per plot ratio (psf ppr), after factoring 10% bonus gross floor area and inclusive of an estimated Land Betterment Charge of SGD 150.8 million for intensification and upgrading to a fresh 99-year lease.

The owners are in the process of submitting an Outline Application to URA for a residential development at a Gross Plot Ratio of 1.8. If the application is approved, the land rate would be approximately SGD 1,245 psf ppr.

Strategically situated in a residential neighbourhood, Elias Green offers seamless access to a diverse range of retail, dining, and entertainment options. Residents can enjoy shopping and dining at Pasir Ris Mall, White Sands, and Elias Mall, while Tampines Retail Park—home to Courts Megastore, IKEA Tampines, and Giant Hypermart—provides additional lifestyle conveniences.

For leisure and recreation, Downtown East offers family-friendly attractions, while major landmarks such as Singapore Expo, Changi Airport, and Jewel Changi Airport are just a short drive away, ensuring unparalleled connectivity for both work and travel.

The property is also close to an array of green spaces and recreational areas, including Tampines Eco Green Park, Pasir Ris Park, and the beautiful Pasir Ris Beach, offering ample opportunities for outdoor activities, picnics, jogging, and cycling.

The development enjoys excellent connectivity via a well-established network of major roads and expressways, including Elias Road, Pasir Ris Drive 1, and Pasir Ris Drive 8. The nearby Tampines Expressway (TPE) ensures easy access to the Central Business District (CBD) and Changi Airport, offering residents seamless access to the rest of Singapore.

Families with school-going children will benefit from the property’s close proximity to several well-established educational institutions. Within a 1km radius, residents will find Angsana Primary School, Elias Park Primary School, and Park View Primary School, making it convenient for younger children to attend school nearby. Other primary schools within a 1-2km radius, including Poi Ching School and Gongshang Primary School, among others. Beyond primary education, educational institutions such as Tampines-Meridian Junior College and the Overseas Family School are also located within the vicinity, offering quality education for students of different age groups.

Mr. Tay Liam Hiap, Managing Director of Capital Markets and Investment Sales at ERA Singapore, commented, “ Elias Green Condominium is situated within Pasir Ris town, which is undergoing significant transformations under HDB’s “Remaking Our Heartland” initiative. With new housing developments and a recently constructed retail mall, Pasir Ris is set to become a more vibrant and well-connected residential hub. ”

He added, “As part of this transformation, the new Pasir Ris Bus Interchange is expected to be completed by 2025. This will integrate with the future Pasir Ris Integrated Transportation Hub, which will also include the Cross Island Line (CRL) slated to be operational by 2030, to further enhance connectivity across Singapore.”

If the collective sale is successfully concluded at the minimum price, owners can expect to receive approximate gross sale proceeds ranging between SGD2.04 million and SGD2.31 million per unit. This is the second attempt following the previous attempt in 2018.

The tender closes on Tuesday, 22 April 2025 at 2pm Singapore time.

For media enquiries, please contact:

Yue Kai Xin, Press Relations, ERA Singapore

Email: [email protected]