New EC site at Bukit Batok West Ave 5 Launched for Tender

The Housing as well as Development Board (HDB) has actually launched a brand-new exec condo (EC) website at Bukit Batok West Avenue 5 for tender on the confirmed Government Land Sales (GLS) list on June 28. The 99-year leasehold story remains on a land area of 179,000 sq ft and will have a maximum permitted built-up area of 536,800 sq ft, based on the gross plot proportion of 3.0, states HDB.

OrangeTee & Tie CEO Steven Tan anticipates the development to yield a total amount of 495 units. “There is just one finished EC development within Bukit Batok, The Dew, which has a resale rate of $1,024 psf based on this year’s information,” he adds.

One more adjacent story at Bukit Batok Avenue 8 drew an overall of 9 proposals and also was granted to a QingJian Realty and also Santarli Construction joint endeavor in March, noting a record EC land price of $266 million, or $662 psf per plot ratio (ppr), says Tan. It was 9.8% greater than the neighboring Tengah Garden Walk EC plot, which was granted to a City Developments (CDL) as well as MCL Land joint endeavor in June in 2014. Tan anticipates a land price of in between $620 to $700 psf ppr, with systems to offer in between $1,300 to $1,400 psf.

The launch rates of EC units costs have been trending up, notes JLL’s elderly director Tampines Ave 11 Tender of research study and consultancy Ong Teck Hui. North Gaia launched at a mean price of $1,301 psf in April, following Parc Greenwich at $1,229 psf and Provence Residence at $1,155 psf in September and also May in 2015 specifically.

Ong anticipates land costs to reach in between $630 as well as $680 psf ppr. “The subject site is eye-catching as it lies close to Tengah town as well as within a reasonable distance to Bukit Gombak MRT Station (on the North-east Line),” he includes.

“This notes the 3rd EC advancement in the Bukit Batok West location within the span of a year, with a total of 1,500 units up for sale” claims Huttons’s elderly director of study Lee Sze Teck. He likewise estimates that the bidding process cost for the site will certainly get to $640 to $680 psf ppr, with up to eight prospective buyers.