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.
|Ranking||Name of Tenderer||Tendered Price $||$PSM of GFA|
|01||Qingjian Realty (BBR) Pte Ltd. and Qingjian Realty (BBC) Pte Ltd.||301,160,000.00||6,830.42|
|02||Allgreen Properties Limited||277,980,000.00||6,304.69|
|03||Wee Hur Development Pte Ltd||268,000,000.00||6,078.34|
|04||Zenmost Developments Pte. Ltd. and Zenlead Investments Pte. Ltd.||257,222,000.00||5,833.89|
|05||China 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|
|07||TTH Development Pte Ltd and Kay Lim Realty Pte Ltd||221,100,000.00||5,014.63|
|08||CEL Real Estate Development Pte. Ltd.||209,000,000.00||4,740.20|
|09||Mezzo Development Pte Ltd||200,000,000.00||4,536.07|
|10||Low Keng Huat (Singapore) Limited||195,000,000.00||4,422.67|
|11||Sim 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.