CDL is top bidder for EC site at Bukit Batok West Ave 5 at $626 psf ppr

Future average selling price of units at the Bukit Batok West Opportunity 5 site might start from $1,300 psf, keeps in mind PropNex’s Wong.

Tricia Song, CBRE’s head of study for Southeast Asia, keeps in mind that the land rate is listed below the $662 psf ppr for the EC site at Bukit Batok West Avenue 8 site that was awarded in March to a joint endeavor between Qingjian Realty and Santarli Construction.

At the same time, PropNex’s Wong believes CDL likely participated in this tender to safeguard its market placement, having purchased the close-by Tengah Garden Walk EC website in June of last year at a land rate of $603 psf ppr. Copen Grand is anticipated to go for the site in 4Q this year.
Map and also review of Bukit Batok West Ave 5 site, which adjoins the EC website at Bukit Batok West Ave 8
Needs to CDL be awarded this site at Bukit Batok West Opportunity 5, it will certainly check out an EC task consisting of 10 blocks of 12 to 13 floors with around 510 domestic units and also a cellar parking area. “Provided the site’s closeness to the upcoming Tengah New Town as well as Jurong Lake District, it will gain from simple accessibility to a variety of facilities and excellent connectivity to such a vital company, way of life and also tourist center,” claims CDL’s Kwek.

City Developments (CDL) arised with the top proposal of $336.068 million, or a land rate of $626 psf per plot ratio (psf ppr). The second highest possible quote from Sim Lian Group was just 0.17% lower, at $625 psf ppr.

The Bukit Batok bus interchange is located near the Bukit Batok MRT station and the West Mall. This interchange is a modest dimension and is nearly totally made use of by Abellio Bulim. Previously, the area was run by SBS, the forerunner to SBS Transit. The SBS ran till 26 December 2000, when most services were transferred to SMRT Buses. SBS also operates a bus depot in the Bukit Batok location.

Bukit Batok EC Project Details

Bukit Batok West Avenue 8 EC is well connected to facilities such as the West Mall and also Bukit Batok West Shopping Centre. These schools are exceptional for children in the location of the Bukit Batok West Avenue 8EC.

The executive condo (EC) website at Bukit Batok West Method 5 drew four quotes at the close of its tender. This is the most affordable number of bids tabled for an EC website considering that three bids were placed for the EC story in Anchorvale Crescent (now Prize Crest) in January 2015, states PropNex Real estate’s head of study as well as material Wong Siew Ying.

” We are extremely happy to emerge as the top prospective buyer for this snugly disputed EC site in Bukit Batok West, particularly at such a slim margin of success,” states CDL team CEO Sherman Kwek.