Bukit Batok West Avenue 6 Mixed-Use Site Draws 11 Bids
The Urban Redevelopment Authority (URA) had announced that the new condo launch residential cum commercial site in Bukit Batok drew a total of 11 bids with Chinese developer, Qingjian Realty submitting the highest offer. The mixed-used site at Bukit Batok was up for tender on 30 March 2016 and tender closed on 24 May 2016. Qingjian’s top bid at $301.16 million is $634.56 psf based on the maximum permissible Gross Floor Area (GFA) of 44,091 sqm / 474,595.52 sqft.
The land parcel is located at Bukit Batok West Avenue 6. It has a land size of 14,696.7 sqm / 158,195.28 sqft and comes with a 99-year leasehold tenure. Plot ratio is 3. Qingjian intends to build about 500 new condo units here.
On 30 May 2016, Qingjian has been awarded the tender to this mixed-use plot. It is their first mixed-use tender award and their 2nd win this month as earlier in the month, they had also won an en bloc plot at Shunfu Ville at a collective price of $638 million.
The said land parcel will be one of the New Condo Launch Projects in 2017 to start its sales.