Lumina Grand EC Price
"The Executive Condominium (EC) site located on Bukit Batok West Avenue 5 garnered significant developer interest, receiving a total of four competitive bids. Ultimately, City Developments Limited (CDL) emerged as the successful bidder, securing the plot with a winning offer of $336.068 million. The calculated land rate stood at $626 per square foot per plot ratio (psf ppr), which was slightly above the second-highest bid of $625 psf ppr submitted by Sim Lian Group.
According to experts, CDL's choice to bid for this particular site appears to be a component of a larger strategy aimed at enhancing its standing in the market. This strategic move follows CDL's prior successful acquisition of a nearby site situated on Tengah Garden Walk, which featured a land rate of $603 per square foot per plot ratio (psf ppr). It is anticipated that CDL will unveil its plans for the Copen Grand EC development on this site, with the launch slated for the fourth quarter of this year.
If CDL proceed with the development of the new site on Bukit Batok West Avenue 5, the company's vision encompasses an Executive Condominium (EC) project consisting of 10 buildings, each ranging from 12 to 13 storeys in height. This development is poised to offer approximately 510 residential units along with a basement car park facility. Situated in proximity to the forthcoming Tengah New Town and the Jurong Lake District, the project is strategically positioned to provide future residents with convenient access to a diverse array of amenities and excellent connectivity to key business, lifestyle, and tourism hubs.
The anticipated starting price for units on the Bukit Batok West Avenue 5 site is estimated to be around $1,300 per square foot (psf).
Tender Bid ($)
CDL Zenith Pte. Ltd.
Sim Lian Land Pte Ltd & Sim Lian Development Pte Ltd
Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd.
CNQC-OS (3) Pte Ltd and Santarli Realty Pte Ltd
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 $1,585 psf. The highest historical sale price recorded was $1,585 psf in September 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.