After evaluating the recent bid from Qingjian Realty, we can say, the firm is planning to do some big work in the Singapore. The firm secured the Shunfu Ville en-bloc land in the Marymount area, and this firm outbid other bidders with a whopping S$301.16 million amount. If we divide the amount on per square foot plot ratio, then it comes to S$634.57. This amount was 8.3 percent higher compared to next highest bid that was S$277.98 million. The second highest bid came from Allgreen properties along with 9 other bidders.
This higher bid explains the sincerity of Qingjian Realty Montville Condo for this commercial and residential site that is located in the Bukit Batok West area. This property drew 11 bids that is definitely a strong response from the participants or developers. For this higher interest, most of the property consultant gives the credit for increased home sales in recent time. Other than this, many new favorable rules also encouraged a number of property developers to participate in this bidding process.
This plot was launched by the agencies in March last year, and property consultant believed it would garner up to S$620 for per square foot and it will have bid from maximum 10 bidders. But the bidding of this plot proved them all as it received 11 bids and it secured S$634.57 for psf. That is definitely a positive news for this land that will have close to 500 residential units along with a one storey mall.
According to Qingjian group officials, this will be the first mixed development project from them in Singapore. Experts believe the launch price for this apartment will be close to S$1100 per square foot. But depending on the construction time and other factors it might change as well. So, if you see a difference in the price at a later time, don’t get surprised by that.
As far as other details of this property are concerned, the maximum gross floor area for this project will be 474,591 square foot. Out of this overall space, commercial area will cover maximum of 6000 square meters of space. This commercial space includes 1000 square meter supermarket and a food court that need to be 500 square meters or more in size. Also, this commercial space needs to be in the same strata. Another noticeable thing about this project is that developer need to have a child care center as well in this space and this child care center need to be minimum 500 square meters in size.…