Lumina Grand EC Price – Successful Tender Price
The Executive Condominium (EC) site at Bukit Batok West Avenue 5 drew attention from developers with a total of four bids, making it a closely contested plot. City Developments Limited (CDL) came out on top, winning the bid at an offer of $336.068 million. The land rate was calculated at $626 per square foot per plot ratio (psf ppr), slightly higher than the second-highest bid of $625 psf ppr from Sim Lian Group.
Experts suggest that CDL’s decision to bid for this site may be part of a broader strategy to strengthen its market position, as the company had previously secured a nearby site at Tengah Garden Walk. The earlier acquisition had a land rate of $603 psf ppr, and plans for the Copen Grand EC at that site are expected to launch in the fourth quarter of this year.
If CDL proceeds with the development of this new site at Bukit Batok West Avenue 5, the company plans to build an EC project featuring 10 blocks of 12 to 13 storeys, providing around 510 residential units and a basement car park. The project will benefit from its location near the upcoming Tengah New Town and the Jurong Lake District, offering future residents easy access to a wide range of amenities and good connectivity to major business, lifestyle, and tourism areas.
The average selling price for units at the Bukit Batok West Avenue 5 site is expected to start at around $1,300 psf.
|S/N||Tenderer||Tender Bid ($)|
|1||CDL Zenith Pte. Ltd.||336,068,000.00|
|2||Sim Lian Land Pte Ltd & Sim Lian Development Pte Ltd||335,508,000.00|
|3||Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd.||332,526,222.00|
|4||CNQC-OS (3) Pte Ltd and Santarli Realty Pte Ltd||331,001,000.00|
Lumina Grand EC Price – Nearby Properties Transacted Price
Below is a summary of the transaction data for condominiums near Lumina Grand Condo that are less than five years old:
- Altura: Located less than 100m away from Lumina Grand EC, at Bukit Batok West Avenue 8, this 99-year leasehold development has yet to be completed and is expected to house 360 units. With an average sale price of $1,475 psf, the property has seen prices ranging from $1,325 to $1,554 psf. The highest historical sale price recorded was $1,554 psf in August 2023 for a 980-square-foot unit, while the lowest was $1,325 psf in the same month for a 1,109-square-foot unit.
- LE QUEST: Located 386 meters away from Lumina Grand EC, this 99-year leasehold property was completed in 2020 and houses 516 units. Its average price per square foot (psf) is $1,594, ranging from a minimum of $1,489 psf to a maximum of $1,688 psf. The property has had 19 sales transactions and boasts a 100% profitability rate in these transactions. On the rental side, the average rent is $5.96 psf per month, generating a 4.5% rental yield.
- Copen Grand: Situated 1,181 meters from Lumina Grand EC, this 99-year leasehold development is still under construction and will feature 639 units. It has an average price of $1,336 psf, with prices spanning from $1,157 psf to $1,499 psf. Despite its ongoing construction, the property has already marked a sales volume of 640 units.
Each of these condos/EC presents unique investment opportunities. For future residents of Lumina Grand Condo, this data can be useful for understanding the market rates and rental yields in the surrounding area.
|NEARBY NEWER CONDO AROUND LUMINA GRAND EC AT DISTRICT 23||HIGHEST TRANSACTED SELLING PRICE (PSF) FOR PAST 12 MONTHS||COMPLETION|
|COPEN GRAND||$1,499||Under Construction|
LUMINA GRAND PRICE – ESTIMATE INDICATIVE / LAUNCH PRICE
|A) Land Cost||$626|
|B) Construction Cost (estimate)||$450|
|C) Profit Margin + Other Expenses (30% x [A+B] )||$323|
|Estimate Launch Price (SUBJECTED TO CHANGES) (FOR EDUCATION PURPOSES, NOT FINAL SELLING PRICE)||$1,399|
Latest Information Lumina Grand Price List As At Thursday, December 7th 2023 updated, Register to receive the price list and book showflat appointment!