The Housing and Development Board (HDB) has actually released a brand-new executive condo (EC) website at Bukit Batok West Avenue 5 for tender on the confirmed Government Land Sales (GLS) listing on June 28. The 99-year leasehold plot rests on an acreage of 179,000 sq ft and also will certainly have an optimum allowed built-up area of 536,800 sq ft, based upon the gross plot ratio of 3.0, claims HDB.

OrangeTee & Tie CEO Steven Tan expects the advancement to yield a total of 495 systems. “There is just one finished EC advancement within Bukit Batok, The Dew, which has a resale cost of $1,024 psf based on this year’s information,” he includes.

One more surrounding story at Bukit Batok Avenue 8 attracted an overall of 9 proposals and also was awarded to a QingJian Realty and also Santarli Construction joint endeavor in March, marking a document EC land rate of $266 million, or $662 psf per story ratio (ppr), states Tan. It was 9.8% greater than the neighboring Tengah Garden Walk EC story, which was awarded to a City Developments (CDL) and also MCL Land joint endeavor in June in 2015. Tan anticipates a land price of in between $620 to $700 psf ppr, with devices to sell in between $1,300 to $1,400 psf.

The launch prices of EC systems rates have actually been trending up, keeps in mind JLL’s elderly supervisor of research as well as consultancy Ong Teck Hui. North Gaia launched at an average cost of $1,301 psf in April, complying with Parc Greenwich at $1,229 psf and Provence Residence at $1,155 psf in September as well as May in 2015 specifically.

Ong expects land rates to reach in between $630 and also $680 psf ppr. “The subject site is eye-catching as it lies near to Tengah community and also within a reasonable distance to Bukit Gombak MRT Station (on the North-east Line),” he includes.

“This notes the third EC development in the Bukit Batok West location within the period of a year, with a total amount of 1,500 systems up for sale” states Huttons’s senior supervisor of research study Lee Sze Teck. He additionally estimates that the bidding process price for the website will certainly reach $640 to $680 psf ppr, with approximately eight bidders.