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Developer optimistic about response for new project

Developer optimistic about response for new project

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Chinese developer Qingjian Realty will open its first mixed-use development, condominium Le Quest in Bukit Batok West, for preview this weekend.

The average selling price for private homes at the 516-unit project is about $1,280 per sq ft, the developer said yesterday. Upcoming executive condo  launches include Anchorvale Lane EC, Rivercove EC while existing ones include Parc Life , Signature at Yishun, Brownstone EC, Visionaire EC, Inz Residence, The Criterion EC and Northwave EC, The Terrace EC,  The Vales EC, Hundred Palms Residences EC, Sol Acres EC and The Bellewoods EC. Rivercove Residences floor plans and Rivercove Residences EC details will be available shortly.

It will also have over 6,000 sq m of retail space on the ground floor with about 30 per cent of the space already leased.

"We think this is a fair price. It is the first mixed development in the area... looking at the market now, we are optimistic about response for the project," said Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5. The homes will be spread across five 12-storey blocks. There are 132 studio and one-bedroom units with sizes ranging from 431 sq ft to 614 sq ft.

Indicative prices for the studios start from $588,000, with one-bedders at $648,000, Qingjian Realty said yesterday.

Two-bedroom units, which span 592 to 829 sq ft, will cost at least $758,000.

Prices for the 192 three-bedders (818 to 1,206 sq ft) will start from $990,000, and $1.38 million for the 48 four-bedroom apartments (1,130 to 1,528 sq ft).

Some analysts told The Straits Times that the prices seem to be on the high side.

"The average selling price is a bit rich for the neighbourhood and it is not near the MRT station," said International Property Advisor chief executive Ku Swee Yong.
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