Qingjian Realty and Santarli Construction recently secured the Bukit Batok West Avenue 8 Executive Condominium (EC) project site with the highest bid of $266 million, setting a record price of $662 per square foot per plot ratio. This is the Bukit Batok EC first EC project to be launched in Bukit Batok since 2013 and is set to be a popular choice for many homebuyers.
The site is located close to Hillview MRT Station and Bukit Batok Nature Park, providing excellent access to public transport and nature. It also has a land area of approximately 400,943 square feet and is zoned for residential use with a gross plot ratio of 2.8. The project is expected to yield about 696 residential units, with a mix of two- to five-bedroom apartments.
The successful bidders, Qingjian Realty and Santarli Construction, are well-established players in the Singapore property market, with a long history of successful projects. Qingjian Realty has a track record of delivering quality residential projects, with a focus on sustainability and modern design. Santarli Construction, on the other hand, is an experienced construction firm that has provided top-notch services for many of Singapore’s major projects.
The current record price of $662 per square foot per plot ratio is the highest ever recorded in Singapore and is a testament to the strong demand for ECs in the country. The Bukit Batok West Avenue 8 EC project is sure to be a Lumina Grand hit with homebuyers, given its strategic location, modern design and close proximity to amenities.
Qingjian Realty and Santarli Construction have done a commendable job in securing the Bukit Batok West Avenue 8 EC project site at a record-breaking price. This project is sure to be a sought-after choice for homebuyers in the near future and could potentially set the benchmark for future EC projects in the country.
Qingjian Realty and Santarli Construction recently secured the Bukit Batok West Avenue 8 EC project site with the highest bid of $266 million, setting a record price of $662 per square foot per plot ratio. This is the highest price ever paid for an executive condominium (EC) site since the launch of the EC scheme in 1995.
The site, located in the mature town of Bukit Batok, has a land area of about 400,520 square feet and a maximum gross floor area of 1,079,150 square feet. The site was highly sought after due to its prime location and its proximity to many amenities. It is within walking distance to Bukit Batok MRT station and is close to shopping malls such as West Mall, The Clementi Mall and Bukit Batok Town Centre.
The project is expected to yield around 700 units, with a mix of two- to five-room units. It is estimated that the units will be completed in 2023. Qingjian Realty and Santarli Construction have committed to providing quality homes that are designed to meet the needs of the modern family.
The high price of the site is a testament to the rising demand for EC units in Singapore. It is also an indication that ECs have become increasingly popular as a starter home option for young couples and families. This is especially true for those who may not be able to afford a private condo yet.
Overall, the record-breaking price of the Bukit Batok West Avenue 8 EC project site is a sign of the robust demand for ECs in Singapore. Qingjian Realty and Santarli Construction are likely to benefit from this high-value project. It is expected that the project will be a success, as the developers have committed to providing quality homes that meet the needs of the modern family.