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About Bukit Batok West Avenue 5 New EC Site | HDB let go of a new Executive Condominium (EC) located at Bukit Batok West Avenue, specifically for tender on the agreed and approved (GLS) Sales list on 28th June. This project rests on a piece of land of approximately one hundred and seventy-nine thousand sq ft and incorporates an established area summing up to five hundred and thirty-six thousand eight hundred sq ft, says HDB.

Bukit Batok West Avenue 5 New EC Site

On the other hand, Tie CEO Steven Tan and OrangeTee anticipate the development to produce a total of 495 units. Another opposite plot at Bukit Batok Avenue 8 attracted a total of nine bids and was granted to Santarli Construction and QingJian Realty in March, stamping a record executive condominium land rate of approximately two hundred and sixty-six million dollars, which is equivalent to six hundred and sixty-two dollars psf per plot ratio (ppr), says Tan.  This was nine point eight per cent higher compared to the Tengah Garden Walk condo plot (Copen Grand), which was also granted to MCL land Joint and City Development (CDL) in June last year. Therefore, Tan anticipates a land price of roughly $620 to $700 psf ppr, with the units to fetch between $1,300 to $1,400 psf. 

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The JLL’s senior director of research and consultancy Ong Teck Hui said that the launch prices of executive condominium units have been trending up. The North Gaia started at a medium price of $1,301 psf in April. Parc Greenwich followed suit at $1,229 psf and finally, the Provence Residence was at the third position recording $1,155 psf in September and May last year consecutively.

Also, Ong anticipates the land prices to reach approximately $630 and $680 psf ppr. He adds the subject site is as appealing as it is situated in proximity to Tengah town and also on the North-east Line of Bukit Gombak MRT Station.

You may like to find out more on other EC including Tenet EC, located at Tampines Street 62 by Qingjian and Santarli Realty.


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