The Housing as well as Development Board (HDB) has actually launched a new exec condo (EC) website at Bukit Batok West Avenue 5 for tender on the verified Government Land Sales (GLS) list on June 28. The 99-year leasehold plot rests on an acreage of 179,000 sq ft as well as will have an optimum permitted built-up area of 536,800 sq ft, based on the gross story proportion of 3.0, says HDB.
The New Copen Grand EC Is an Eco-Friendly Residential District in a Modern Town
The Copen Grand EC is set to be a modern town that will feature a 20-hectare Central Park, a public amphitheatre, and parks. The EC will also be linked to the Jurong Region Line, a planned MRT station that is scheduled to serve Copen Grand EC by 2026. The town centre will be car-free, so residents will be able to walk or cycle to work and school without having to worry about parking or traffic.
The new Copen Grand EC is an eco-friendly residential district. It features green and sustainable building designs and provides modern amenities. It is a perfect place for families, retirees, and investors. In addition to being eco-friendly, the area also features public parks and walking trails. In addition, it’s located near the main business district. For residents, Tengah offers a convenient commute.
The green and sustainable features of Copen Grand EC are the focal point of the town. It is fenced off, protected under a Special Management Area agreement, and a sustainable ecosystem will thrive here. Copen Grand EC is expected to attract foreigners, mainly Chinese, and locals. Residents are encouraged to take part in the program. Residents of Tengah will receive a certificate upon completion.
OrangeTee & Tie CEO Steven Tan expects the advancement to yield a total of 495 devices. “There is only one finished EC growth within Bukit Batok, The Dew, which has a resale rate of $1,024 psf based upon this year’s information,” he includes.
An additional adjacent story at Bukit Batok Avenue 8 attracted a total of 9 quotes as well as was granted to a QingJian Realty and also Santarli Construction joint venture in March, marking a record EC land price of $266 million, or $662 psf per plot proportion (ppr), claims Tan. It was 9.8% higher than the neighboring Tengah Garden Walk EC story, which was granted to a City Developments (CDL) and MCL Land joint endeavor in June last year. Tan expects a land cost of in between $620 to $700 psf ppr, with systems to offer between $1,300 to $1,400 psf.
The launch rates of EC units costs have been trending up, notes JLL’s senior director of study and consultancy Ong Teck Hui. North Gaia went for a typical rate of $1,301 psf in April, complying with Parc Greenwich at $1,229 psf and also Provence Residence at $1,155 psf in September as well as May in 2014 specifically.
Ong anticipates land prices to reach in between $630 as well as $680 psf ppr. “The subject website is appealing as it lies close to Tengah community and within an affordable range to Bukit Gombak MRT Station (on the North-east Line),” he adds.
“This marks the 3rd EC growth in the Bukit Batok West location within the span of a year, with an overall of 1,500 units up for sale” states Huttons’s senior supervisor of research study Lee Sze Teck. He also approximates that the bidding rate for the site will reach $640 to $680 psf ppr, with as much as 8 bidders.