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 …