HDB Selling Price for Coffee Shop Located at Blk 201 Tampines Street 21

27 Ms Hazel Poa asked the Minister for National Development regarding the coffee shop located at Block 201 Tampines Street 21 that recently transacted at $41.68 million (a) in which year did HDB sell the coffee shop; and (b) at what price did HDB sell it for.

Mr Desmond Lee: This coffee shop was sold to the sitting tenant in October 1992, at $3,451,200. This unit has not been sold since then, and this will be its first resale transaction.

The coffee shop is located in Tampines Neighbourhood 2 Neighbourhood Centre, comprising Blocks 201 to 201G Tampines Street 21. This Neighbourhood Centre has a total of four sold coffee shops and there is another rental coffee shop located across the road at Block 264. There is a sufficient supply of coffee shops in the vicinity to maintain healthy competition and nearby alternative options for stallholders and customers.

HDB will continue to ensure a good supply of coffee shops to create competition and help keep food prices affordable. For example, 34 coffee shops have been completed in the past four years and another 30 will be completing by 2025.