The Government Land Sales Programme is scheduled to start in the first half of 2022, with five Confirmed List and eight Reserve List sites. These sites could yield up to 6,500 private residential units and 90000 sq ft of commercial space, as well as 530 hotel rooms including Bukit Batok EC. It is anticipated that the influx of new residents would increase the demand for these units.
This programme is expected to yield about 2,000 units from confirmed sites, including private residential units and EC such as Bukit Batok EC. This is higher than the number of ECs recently sold by the government. Due to land-hungry developers and dwindling unsold new home supply, it is anticipated that these two programmes will generate double-digit bids. If you are interested in purchasing a plot of land under the Government Land Sales Programme, you will want to know that the supply of new residential units from the first batch will be relatively low.
The new HDB project, Bukit Batok West Avenue 8, has just launched a public tender for the sale of a prime site for an executive condominium. Bukit Batok EC site is located at the upcoming executive district and is expected to yield up to 375 residential units. This development is near the future high-rise residential area and is a short walk away from Bukit Gombak MRT station.
Bukit Batok EC site, which can yield 375 units, has a convenient location at the heart of the city. The development is set to be built next to the Pan-Island Expressway. The HDB is hoping that the public will be interested in the development. In addition to prime location, the executive condos will also be convenient to various amenities in the area. The tender will close at 12pm on Mar 8, 2022, and the winning bidder will receive a development permit.
The HDB is launching a public tender for this Bukit Batok EC 1.2-acre executive condo site. The site is located near the Tengah town area and is surrounded by prime commercial One Sophia and residential properties. Residents will be able to enjoy the benefits of living in a luxury condominium in the heart of the city. The HDB will be developing a mix of apartment and condo units, and the new developments will be equipped with all the necessary amenities for a modern life.
A new EC project has just been launched by the Housing and Development Board. This site is located at Bukit West Avenue 8, and could yield around 375 units. The land is under the government’s Confirmed List of Government Land Sales Programme, and is expected to fetch as much as $515 million – S$600 million. However, there are many potential buyers for this site.
The site has 134,004 square feet of land, and could be developed into 375 executive condos. The size of the site falls within the preferred range of development projects – 100 to 500 units. This allows developers to enjoy economies of scale, but not to overcrowd the site. There are reportedly six to 10 bidders for this project, with the top bid estimated to be in the neighborhood of $209 million. The developer would also have to pay an annual fee of up to $520 per sq ft, or $630 per plot ratio.
The development site has a large potential area, which could be developed into a new EC with about 375 units. The size of the development site is also within the preferred range of development projects – between 100 and 500 units. Bukit Batok EC allows developers to enjoy economies of scale, without causing an overcrowded market. There are six to 10 bidders in the bidding process, with the highest bid of $209 million and the highest psf per plot ratio of $650.
Bukit Batok EC site is a mid-sized parcel, and could attract eight to 12 bidders. The highest bid could range from $241.2 million to $261 million, reflecting the land rate of $630 per sq ft per plot ratio. The tender is expected to close on Mar 8 at noon. While there are many potential bidders, only one developer can be chosen to build this EC project.
The Tender for Bukit Batok EC was announced on May 22. The site is located five minutes drive from the Pan-Island Expressway. The preferred range for development projects is between 100 and 500 units, which gives developers economies of scale without being too large. This project will be launched in June 2022, which makes it the perfect time to get started on marketing your units. Here are the details of the Tender.
The EC project is expected to cover an area of 12 million square feet and attract eight to twelve bidders. The mid-sized plot is anticipated to fetch between $580 million and $630 million. It is expected to be completed in 2022. It is expected that the developer will build several projects around the EC site, including a shopping mall. The Tender for Bukit Batok EC will close on March 8, 2022.
