Le Quest Tender Summary At Bukit Batok West


Qingjian won the Bukit Batok land tender


There are total 11 bidders for the Bukit Batok West Avenue 6 land parcel and the tender was closed on 24th May 2016. The competitive biding was due to recent reduction in the number of land sales by Government Land Sales Programme. Qingjian Realty had won the tender by submitted the top bid of $301million which was 8.3% higher than the 2nd-bid of $277.98million by Allgreen Properties. The per-square-foot per plot-ratio worked out to be $634.56, and the expert predicted the launching price will be between $1250psf to $1350psf.

RankingName of TendererTendered Price $$PSM of GFA
 01Qingjian Realty (BBR) Pte Ltd. and Qingjian Realty (BBC) Pte Ltd. 301,160,000.00 6,830.42
 02Allgreen Properties Limited277,980,000.00  6,304.69
03Wee Hur Development Pte Ltd 268,000,000.00 6,078.34
04Zenmost Developments Pte. Ltd.  and Zenlead Investments Pte. Ltd. 257,222,000.005,833.89
05China Construction (South Pacific) Development Co. Pte. Ltd.255,188,888.00 5,787.78
06 First Bedok Land Pte Ltd and GLL A Pte. Ltd. 253,000,000.00 5,738.13
07TTH Development Pte Ltd and Kay Lim Realty Pte Ltd 221,100,000.00 5,014.63
08CEL Real Estate Development Pte. Ltd. 209,000,000.00 4,740.20
09Mezzo Development Pte Ltd200,000,000.00 4,536.07
10Low Keng Huat (Singapore) Limited 195,000,000.00 4,422.67
11Sim Lian Land Pte Ltd 188,000,000.00 4,263.91

 

Le Quest Surrounding and Potential

Le Quest will be the first condominium development in Bukit Batok after more than a decade wait. At the moment, there are few new HDB estates been build around Le Quest Condo. In the near future, HDB upgraders who wish to upgrade their home to condominium will very likely to aim at Le Quest not only due to it rarity, but also due to its mixed-development status.

In 2018 when Tengah HDB new town start to launch, it will create more HDB upgraders demand and push the Le Quest price upward. The future Master Plan on Jurong Lake District and Jurong Innovation District will also have a positive impact on the Bukit Batok development. Buyers or investor who secure an unit at Le Quest will has the first mover advantage in the near future when more HDB owners  wish to upgrade their dream home to condominium.

 
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