Bukit Batok West Ave 5 EC

Project Details of Bukit Batok West Ave 5 EC

On 28 June 2022, it was announced that Bukit Batok West Ave 5 EC is on the confirmed Government Land Sales (GLS) list. This 99-year new executive condominium has a plot ratio of 3.0. With a land size of 179,000 sqft, the maximum gross floor area is 536,800 sqft. It is estimated to build 495 EC units.

It was announced in November 2023 that this new executive condo will be named Lumina Grand. Launch date is in January 2024 and this is the only executive condo launching in 2024.

Closing Date Of Tender

Tender will close on 13 September 2022.

Other ECs In The Vicinity

Currently, the Inz Residence EC is within 2km of the new Bukit Batok West Ave 5 EC plot. It was built by QingJian Realty. and which was launched in 2015 and completed in 2019 with 497 units. Prices transacted at an average of $1,060 psf.

Another completed exec condo devt nearby, The Dew was launched in 2000 and completed in 2003 with 248 units. Average selling price transacted is $969 sqft.

Two New EC Plots Bidded In The Vicinity

In March, a joint venture between QingJian Realty and Santarli Construction was awarded another adjacent plot at Bukit Batok Avenue 8 for $266 million, or $662 per square foot per plot ratio (psf ppr). City Developments (CDL) and MCL Land’s joint venture was awarded Tengah Garden Walk EC plot in June 2021 at a price 9.8% higher.

Estimated Selling Price Of Bukit Batok West Ave 5

Prices have been consistently going up with each new EC launch.

The Bukit Batok West area has seen three EC developments within a year, with 1,500 units up for sale, according to Lee Sze Teck, Huttons’s senior director of research. As well, he estimates that up to eight bidders will participate in the bidding for the site, which will set the bid price at $640 to $680 psf ppr. Units are estimated to be selling between $1,300 and $1,400 psf.

Source:https://www.businesstimes.com.sg/real-estate/bukit-batok-ec-site-launched-for-tender-market-watchers-foresee-keen-developer-interest

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