CDL is top bidder for EC site at Bukit Batok West Ave 5 at $626 psf ppr
In a recent development, City Developments Limited (CDL) has emerged as the top bidder for a prime executive condominium (EC) site located at Bukit Batok West Avenue 5 in Singapore. The site, which spans over 1.26 hectares, received a total of seven bids, with CDL’s offer of S$266million, being the highest. This equates to a land price of approximately S$266 million being the highest. This equates to a land price of approximately S$626 per square foot per plot ratio (psf ppr).
The Bukit Batok West Avenue 5 EC site is expected to yield around 375 residential units, providing a significant opportunity for CDL to expand its residential portfolio in the area. The site’s strategic location, close to the upcoming Bukit Batok MRT station and a variety of amenities, is likely to attract strong interest from homebuyers.
The successful bid by CDL reflects the continued demand for land in Singapore’s real estate market, particularly for ECs, which offer a unique housing option combining the facilities of private condominiums with the affordability of public housing. With this acquisition, CDL demonstrates its commitment to the Singapore property market and its ability to secure prime development sites.
The project is anticipated to contribute to the ongoing rejuvenation of the Bukit Batok estate, enhancing the residential landscape and providing a new lease of life to the area. As one of the leading property developers in Singapore, CDL is well-positioned to deliver a high-quality residential development that meets the needs of modern homebuyers.
Source: https://www.edgeprop.sg/property-news/cdl-top-bidder-ec-site-bukit-batok-west-ave-5-626-psf-ppr
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