Bukit Batok West EC Site Bid At Record Of $662 psf ppr

Bukit Batok West EC Site:

credit:ura

On 8th March 2022, a total of 9 bids were submitted for the executive condominium (EC) land parcel located at Bukit Batok West Avenue 8. Diagonally to the right of the site is Bukit Batok Hillside Park and to its left is the Tengah Forest Town. Residents who wish to shop for their daily groceries can do so the the nearby Le Quest Shopping Mall, a mixed-development by QingJian which was completed in 2021. Joint venture partners, Qingjian Realty and Santarli Construction entered the highest bid of $266 mil. At a land size of 12,449 sqft and a gross plot ratio of 3.0, the land price works out to S$662 per square foot per plot ratio (psf ppr). The EC can build up to approximately 36 storeys. For an EC land, it is the highest price ever obtained after a previous record was set by the same joint developers for the Tampines Street 62 EC site won last July 2021 at S$659 psf ppr.

Bukit Batok West EC Site Bid Table:

credit:ura

At this bid of S$662 psf ppr land rate, it is more than the EC plot bidded at the closeby Tengah Garden EC land by 9.8%. The Tengah Garden EC plot was awarded to joint venture developers, CDL (City Developments Limited) and MCL Land in June 2021 for S$603 psf ppr. The estimated launch date for this Tengah Garden EC is 3rd quarter 2022. With big plans for the Tengah Forest Town, the Tengah Garden EC is definitely under the radar of residents staying in the west. There has been no new executive condo launches in the west since the last EC launch, Westwood Residences in April 2014. Westwood Residences is at Westwood Ave near Jalan Bahar and by the Pan Island Expressway. It requires an 11-minutes drive or a 28-minutes walk to the Boon Lay MRT station. Units here have transacted up to $1,034 psf.

The Powerful West Region:

credit:ura

The West has been at the cutting edge of Singapore’s industrial development since independence.

Three new employment areas await Singaporeans in Jurong Innovation District (JID), Jurong Lake District (JLD), and Tuas Port. JID and JLD will help create more desirable places to live and work by testing innovative urban design ideas and facilities. With this in mind, Bukit Batok West Avenue 8 EC will stand to benefit greatly from this strong location specific attribute as it is located in the middle of it all.

Bukit Batok West Ave 8 EC Estimated Launch Price:

ERA Head of Research Nicholas Mak projected the launch price of Bukit Batok West Ave 8 executive condo could be in the range of S$1,328 psf to S$1,388 psf.

Any enquiries, please call our hotline: +65 61002500 | Return to HOME

source:https://www.edgeprop.sg/property-news/qingjian-realty-and-santarli-joint-venture-set-new-record-662-psf-ppr-ec-site-bukit-batok-west