CDL has emerged as the top bidder for the Executive Condominium (EC) site at Bukit Batok West Avenue 5, offering a bid of $626 psf ppr. The 99-year leasehold site has a total land area of 5,477.3 square metres and a maximum permissible gross floor area of 16,431.9 square metres.
This successful bid represents the highest price ever paid for an EC site in Singapore, surpassing the previous record of $571 psf ppr paid for the EC site in Sumang Walk, Punggol.
CDL’s bid was accepted as the highest despite competition from several other bidders. The other contenders included MCL Land, Frasers Centrepoint, Allgreen Properties and Keppel Land.
The site, which is in close proximity to Bukit Batok MRT station, is expected to yield up to 500 residential units. These units will likely range from two- to five-bedroom apartments, with the potential for a larger number of smaller units.
The development of the site is expected to benefit from the nearby amenities, such as educational institutions, supermarkets, shopping malls, and a wide range of leisure and entertainment facilities.
CDL is well-known for its quality developments in Singapore, and this latest bid is likely to further enhance its reputation. The residential units are expected to be completed in 2021, and will no doubt be a great addition to the Bukit Batok area.
The successful bid is a testament of CDL’s commitment to creating quality homes in Singapore. As the largest real estate developer in Singapore, CDL is well-placed to deliver on its promise of providing quality homes at attractive prices.
It is also a testament to the growing demand for residential developments in Singapore, as well as the confidence of the property market. With the continued growth of the economy, the prices of residential properties in Singapore are likely to continue to rise.
CDL’s bid for the Bukit Batok West Avenue 5 EC site is the latest in its string of successful bids in Singapore. This latest bid further cements its reputation as one of the leading developers in the country.