In the highly competitive Singapore property market, Qingjian Realty’s record-breaking bid for Bukit Batok West Avenue 8 Executive Condominium (EC) stands out as an exemplary accomplishment. This bid was not only the highest ever for an EC site, but also the first time that a Chinese developer had joined the fray for a residential site in the country.
The record-breaking bid was submitted on May 2, 2017, and was accepted by the Housing and Development Board (HDB). Qingjian Realty’s bid was $430.1 million, a staggering 37.5% more than the second highest bid. This broke the previous record, set in 2015, of $383.9 million for the Executive Condominium at Canberra Link. Qingjian Realty’s bid also marked the first time a Chinese developer had successfully won an EC site in Singapore.
Qingjian Realty’s bid is indicative of the company’s ambitious plans to become a major player in the Singapore property market. Its success in winning the Bukit Batok West Avenue 8 EC site is an important milestone in its quest to gain a foothold in the competitive landscape.
The purchase of the Bukit Batok site could be seen as a strategic move on Qingjian Realty’s part. The site is well-located and offers excellent potential for development. It is close to shopping malls, schools, and other amenities, and is located in a mature and well-established estate. This makes it an attractive option for potential homebuyers.
Qingjian Realty’s bid also reflects the company’s strong financial position. The company is backed by a strong parent group with a long track record of success in the property market. This gives them the financial muscle to bid more aggressively than their competitors, and allows them to take on more risky projects.
The company’s successful bid for the Bukit Batok West Avenue 8 EC site is a testament to its commitment to excellence. Its ability to outbid its rivals is a clear sign that it is well-positioned to succeed in the highly competitive Singapore property market.
The successful bid is also a testament to the expertise and experience of Bukit Batok EC Qingjian Realty’s team. The company is led by experienced professionals with extensive knowledge of the Singapore property market. This gives them a unique edge over their competitors and makes them well-equipped to handle the complexities of the Singapore property market.
Qingjian Realty’s record-breaking bid for the Bukit Batok West Avenue 8 EC site is an impressive achievement. The bid not only broke the previous record, but also marked the first time a Chinese developer had successfully won an EC site in Singapore. This is indicative of Qingjian Realty’s commitment to excellence and its ability to capitalize on opportunities. It is also a clear sign that the company is well-positioned to become a major player in the Singapore property market.
When it comes to the property market, one of the most talked-about topics in recent times has been Qingjian Realty’s bid for Bukit Batok West Avenue 8 Executive Condominium (EC). This is because the bid was the highest ever for an EC project in Singapore, setting a new record for the local property market.
The bid was announced in January 2019, and it was for a 50-year leasehold EC project with a total site area of about 13,529.7 square metres. The bid was submitted by Qingjian Realty, a joint venture between Qingjian Group and Nanshan Group, and was for a total of S$338.9 million. This amount was nearly S$50 million higher than the next highest bid, which came from a joint venture between MCL Land and TID Residential.
The project, which is expected to be completed in 2022, will have 648 residential units and a wide range of amenities such as a childcare centre, a multi-purpose hall, a swimming pool, a gym, a tennis court, and a playground.
The record-breaking bid for the Bukit Batok West Avenue 8 EC project by Qingjian Realty is an indication of the strong demand for property in Singapore. This is due to a number of factors, such as the increasing population and the need for more housing options, as well as the attractive prices of ECs, which are lower than those of private properties.
Furthermore, the bidding process was highly competitive, with a total of 12 bids submitted, which is a testament to the strong interest in the project. This is also a reflection of the confidence in the property market, as well as the fact that the ECs are becoming increasingly popular among homebuyers.
The record-breaking bid by Qingjian Realty is also a sign of the growing presence of Chinese developers in Singapore. This is due to the fact that both Qingjian Group and Nanshan Group are Chinese companies and they have been involved in a number of property developments here in Singapore.
It is expected that Qingjian Realty’s record-breaking bid for Bukit Batok West Avenue 8 EC will encourage other developers to submit higher bids for future projects, thus further driving up prices in the property market.
Overall, Qingjian Realty’s bid for the Bukit Batok West Avenue 8 EC project is a significant milestone for the property market in Singapore. It is a sign of the increasing demand for property in Singapore, as well as the growing presence of Chinese developers in the local market. It is also an indication of the confidence of developers in the market, which is likely to further drive up prices in the property market in the future.