Bukit Batok West Avenue 5 Executive Condominium Launched for Tender
The land rate for Bukit Batok West Avenue 5 EC is between S$640 and S$680 per square foot per plot ratio. In other words, it’s a fairly expensive development. However, if you take into consideration all the amenities available, the development may be a good investment.
Bukit Batok West Avenue 5 EC
The Bukit Batok West Avenue 5 EC has been launched for tender. This is the third EC site launched this year. With over 1,500 units up for grabs, the bid price is expected to be in the range of S$640 to S$680 per square foot, per plot ratio. If the bid is successful, up to eight developers will be able to make an offer.
Bukit Batok West Avenue 5 EC sits on a 1.66 hectare site and can yield up to 495 residential units. The development is expected to cater to families in the western part of the island. It will be located near the upcoming Tengah estate, which is slated to be a green sustainable housing estate. Furthermore, the development is also near the Jurong Lake District, making it an ideal location for families.
Bukit Batok West Avenue 5 EC Land rate of S$640 to S$680 per square foot per plot ratio
A winning bid for a site in the Siglap Road master planned community is likely to be around S$640 to S$680 psf ppr. That would represent a 25-30% premium over older developments in the neighbourhood. Those prices would be close to resale prices, which hover around S$1,000 psf.
The high price tag of Bishan Park, a freehold site in Bukit Timah, and land rate of S$1,122 to S$1,199 per square foot per plot ratio make it difficult to sell the development. With no projects selling for more than S$500 million since the cooling measures were introduced in July 2018, the chances of a successful sale are slim. In addition, the land rate is lower than that for the neighboring Braddell View condo development, which is S$1.2 million higher.
Bukit Batok West Avenue 5 EC Number of units
Bukit Batok West Avenue 5 is an executive condominium site with the potential to produce up to 495 residential units. The plot will span an area of 16,623.7 square metres and is zoned for an allowed gross floor area of 49,872 square metres. A building height of 60m is expected for the development.
A site with this size will be highly coveted by developers and should attract at least seven or nine bidders. However, the high price of the site could prevent some developers from submitting a bid. In this case, they may be hedging their bets against the high risk of building on the site.
Another site, Bukit Batok West Avenue 8, is adjacent to the Avenue 5 EC site and has a smaller yield of 375 units. This tender, which closed on 8 March, had nine tenderers. It was awarded to CNQC-OS (2) and SNC Realty for a price of $266 million.
Bukit Batok West Avenue 5 EC Amenities
The executive condominium project at Bukit Batok West Avenue 5 has been launched for tender. This new project will be near the Bukit Batok West MRT station and is expected to yield up to 495 units. The site is surrounded by a new built-up area and could attract interest from developers in the region.
There is limited private housing supply in the suburb. The last private launch there was Le Quest in August 2017. HDB upgraders will also likely find this new project very appealing. The estimated bid for the EC site is about S$640 to S$680 per square foot per plot ratio. Up to eight bidders may submit enquiries.
The developer expects a healthy demand for the development with seven to nine bidders. The Bukit Batok location is well-known for its proximity to the growing Tengah Region and is expected to command high demand.
Bukit Batok West Avenue 5 EC Location
The Bukit Batok West Avenue 5 Executive Condominium is a prime site in the Tengah Region. It is adjacent to the upcoming Bukit Batok West Avenue 8 EC. The project will yield approximately 375 residential units. It will be developed by TID Residential Pte. Ltd. and Intrepid Investments Pte. Ltd., who also developed the Bukit Batok EC. The development will be a short walk to Bukit Gombak MRT. It is also located near the Bukit Batok Hillside Park and the Dunearn Secondary School.
The development’s location makes it convenient for commuters to get around Singapore. Nearby expressways include the Pan Island Expressway and Kranji Expressway. These expressways connect many areas of Singapore.