Bukit Batok EC is a new executive condo located right at the heart of Bukit Batok Town. HDB, the government’s land sales agent, has launched a public tender for the Bukit Batok West Avenue 8 EC project. The land parcel will yield up to 375 residential units, and will be leased for 99 years. The tender closes on 8 March 2022, at 12 noon. A successful bidder may proceed to the site based on an assessment of the property.
As Bukit Batok West Avenue 8 is on the Confirmed List of Government Land Sales for 2021, developers are expected to have a high interest in this executive condominium site. The site has a maximum gross floor area of 37,348 sq m. The height limit is 60 to 70 m, and the estimated yield is 375 residential units. If successful, developers can choose the EC site based on its price range.
Located close to the MRT station, Bukit Batok EC is convenient for commuters. The project is near a bus interchange and is within a short walk of the nearby MRT station. It is also near a few schools and is a convenient location for families. Besides, Bukit Batok West Avenue 8 has a long lease period, which will give them time to sell their units.
Located on the east side of Bukit Batok West Avenue, Bukit Batok EC 99-year-leasehold executive condominium is set to be one of the most popular projects in the area. It’s also near the Jurong Innovation District and Tengah Town. The site is located on a 1.24-hectare site and is expected to yield 375 executive condominium units. The project site is adjacent to Le Quest, a mixed-development by Qingjian Realty. It is estimated to be completed in 2021. The highest bid of $266 million was placed by Qingjian Realty and Santarli Construction. The price works out to be about $662 a square foot per plot ratio.
The Bukit Batok West Avenue 8 EC project is a highly anticipated land plot located in the next residential zone. It is also near the Tengah Region, which is currently being developed and is expected to grow rapidly. In addition, it will be in a prime location near Bukit Batok Hillside Park. In addition, it will be near future high-rise residential developments. With 375 units in total, it is slated to be one of the most affordable executive condos in the area.
Located near several established schools in Singapore, Bukit Batok EC is a prime location for family homes. Plots in this neighbourhood are typically priced at $580 to $650 per square foot. The Bt Batok West Avenue 8 EC Tender by Qingjian Realty offers a unique opportunity for Singaporeans to purchase a plot in one of Singapore’s most promising areas.
Aside from its location, the Bukit Batok EC is expected to draw a healthy buying interest from first-time buyers as well as HDB upgraders. Compared to private condominiums, ECs are generally cheaper and fit into many Singapore households’ budgets. The project may be launched from Q2 2023 onwards. The price of Bukit Batok West Avenue 8 EC is currently set at S$3,500 per sq. ft.
In Bukit Batok EC Tender, Qingjian Realty, along with a joint venture of Santarli, bid S$662 per square foot (psf ppr), breaking a previous record for EC land. The bidder was also 4.8% higher than the second-placed bidder, Intrepid Investments Pte. Ltd. TID Residential Pte. Ltd.