Artist’s impression of the Le Quest mixed-use development in Bukit Batok. (Photo: Qingjian Realty)
Smart homes developer Qingjian Realty will open the showflat of Le Quest at Bukit Batok Avenue 8 for the Phase 2 preview this Saturday (12 May).
First launched for sale last August, the project saw more than 280 of the 516 units (54 percent) snapped up at an average of $1,280 psf before the showflat was closed.
More: 280 Units At Le Quest Sold Within Hours Of Launch
“We have received a lot of interest from potential buyers in Le Quest after the first sales launch last year. The recent update on the upcoming Jurong Region Line, a stone’s throw away, has also generated lots of excitement,” said Qingjian deputy general manager Yen Chong.
Le Quest is the first mixed-use development in Bukit Batok and comprises five residential blocks atop a 64,583 sq ft retail podium.
The unit mix includes studio and one- to four-bedroom units from 431 sq ft to 1,528 sq ft.
Initial launch prices started from $588,000 for a studio, $648,000 for a one-bedder, $758,000 for a two-bedder, $990,000 for a three-bedder and $1.38 million for a four-bedder.
When contacted, Qingjian declined to reveal how many units will be released and pricing details for the Phase 2 launch, but prices are expected to be higher given the market recovery.
According to PropertyGuru’s Property Market Outlook report, prices of new launches are expected to be at least 5.0 percent higher than last year.
Le Quest is located close to two major upcoming developments – the Jurong Lake District and the Jurong East terminus of the KL-Singapore High Speed Rail.
Phase 2 will open for bookings on 19 May. The 99-year leasehold project is expected to be completed by end 2021.
Last year, China-based Qingjian sold 1,216 units in Singapore – the highest number among developers. It also plans to launch a new project on the former Shunfu Ville site in the coming months, which is expected to yield over 1,000 units.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email email@example.com