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Subscribe to this list via RSS Blog posts tagged in Qingjian Realty

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SINGAPORE - Chinese developer Qingjian Realty will open its first mixed-use development - Le Quest in Bukit Batok - for preview on Saturday (July 22).

The average selling price for private homes at the project is about S$1,280 psf, the developer said on Wednesday (July 19).

Le Quest, a 99-year leasehold development, will feature 516 residential units - along with more than 6,000 sq m of retail space on the ground floor.

About 40 per cent of the commerical space will be devoted to food and beverage, with the remaining area going to other retail and lifestyle offerings.

Qingjian said about 30 per cent of the retail space has been leased, with anchor tenant NTUC Fairprice Finest set to take up more than 1,200 sq m of space, and food court operator Koufu to occupy over 500 sq m of the area.

This is the first retail mall that Qingjian is managing here.

The residential units - from studio apartments to four-bedders - will be spread across five blocks comprising 12-storeys each.

There are 132 studio and one-bedroom units with size ranging from 431 sq ft to 614 sq ft. Indicative prices for the studio start from S$588,000 and S$648,000 for the one-bedders.

Two-bedroom units, which spans 592 to 829 sq ft - accounting for about 28 per cent of the development - will cost at least S$758,000.

Most of the units in Le Quest - 192 of them -are three-bedders, with sizes from 818 to 1,206 sq ft. Prices for these units start from S$990,000.

The 48 four-bedroom apartments have a starting price of S$1.38 million. They are between 1,130 sq ft and 1,528 sq ft.

"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," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, when Ms Chong said the firm is aiming to sell 150 apartments on that first launch weekend.

The development is expected to be completed at the end of 2021.

 

Credits: The Straits Times

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Chinese developer Qingjian Realty will open its first mixed-use development - 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.

Le Quest, a 99-year leasehold development, will also have more than 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," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, with hopes that 150 apartments will go.

Sales of new private homes have been robust this year, boosted by positive market sentiment following the slight easing of certain cooling measures in March.

The homes at Le Quest - from studios to four-bedders - will be spread across five 12-storey blocks. There are 132 studio and one-bedroom units with sizes ranging from 431sq ft to 614sq ft.

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

Two-bedroom units, which span 592 to 829 sq ft, account for about 28 per cent of the development. They will cost at least $758,000.

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

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. Buyers will be paying a premium," said International Property Advisor chief executive Ku Swee Yong.

On the commercial component, Ms Chong said despite the challenges facing the retail industry, Le Quest is drawing good response from prospective tenants.

Anchor tenant FairPrice Finest supermarket is set to take up more than 1,200 sq m, while foodcourt operator Koufu will occupy about 500 sq m.

The developer, which will be managing a mall for the first time here, is in talks with potential tenants, including fast-food joints and cafes, on leasing for another 20 per cent of the commercial space.

Ms Chong said the mall will have a "hipster/contemporary" theme, with 40 per cent of the retail space for food and beverage outlets and the remaining area going to other offerings.

Le Quest, which will feature smart-home technologies, is expected to be completed at the end of 2021.

This will be Qingjian's final new project launch this year.

The developer plans to launch a new development on the site of Shunfu Ville, which it acquired for $638 million via a collective sale last year, in the third quarter of next year.

 

 Credits: The Straits Times

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A 99-year leasehold mixed-use site at Bukit Batok West Avenue 6 has been awarded to Qingjian Realty, the Urban Redevelopment Authority (URA) said on Monday, 30 May.

Launched for sale in March, the tender for the site attracted strong interest from developers, with 11 bids submitted by the close of tender on 24 May.

“The cut-back in land sales and the dearth in land parcels for sale in the area gave bidders additional reasons to bid for the land,” said Desmond Sim, Head of CBRE Research, Singapore and South East Asia.

Qingjian submitted the top bid of $301.16 million, which translates to about $635 psf per plot ratio for the 1.5ha site. This is the developer’s first mixed-use development in Singapore, and it expects to build about 500 condominium units.

“This location’s close proximity to the Jurong district, and the success of recent mixed development launches, are very positive indicators of the market’s likely reaction to a potential Qingjian development here,” said the firm’s General Manager, Li Jun.

The mainland Chinese developer has been aggressively buying up land for private development in recent weeks. Earlier this month, it announced that it had entered into a sales and purchase agreement with the residents at Shunfu Ville, at a collective price of $638 million.

 

Credits: Propertyguru

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Qingjian Realty’s The Visionaire executive condominium (EC) in Sembawang drew strong interest from buyers, with one out of four would-be purchasers saying they were lured by its smart home concept.

In total, the 632-unit development received 859 e-applications, or the highest number for an EC since 2015, after submissions of online applications closed last Sunday.

Based on a survey conducted by the developer among 200 applicants, over 25 percent said they were drawn to the project’s reputation as the first EC with smart homes. Buyers can choose to opt out of this feature to reduce the price from $6,500 onwards, depending on the property type.

But according to respondents, The Visionaire’s biggest selling point is its proximity to the upcoming Canberra MRT station, which is within walking distance.

“Home buyers in Singapore are very discerning in their choices. A dream home must meet multiple criteria: proximity to transport nodes and schools, excellent facilities, practical layout and outstanding design,” said Li Jun, General Manager of Qingjian Realty.

Unit prices will be announced on Thursday, but the developer revealed that indicative prices will be consistent with other ECs, with prices for a standard three-bedder ranging from $678,000 to $888,000.

Booking will start this weekend, and the project is expected to receive its TOP by 2018.

Credits: Propertyguru

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It sold 76 units.

According to OrangeTee, the best-selling project for March is The Santorini in Tampines. Developed by MCC Land, the project has a total of 597 units. In the month of launch, The Santorini managed to sell 76 units at a median price of $1,108 psf.

The Santorini faces stiff competition from nearby projects such as the recently TOPed Waterview and Q Bay Residences.

Here's more from OrangeTee:

According to MCC Land, the units sold were mostly one and two bedroom units, indicating that the price quantum becomes a main consideration for home purchase.

There were 480 units sold in March, compared to 739 units in February. This represents a 35% m-o-m drop in new private residential sales. Y-o-y, sales plunged 83% compared to March last year when 2,793 units were sold.

There were 724 units launched in March, with majority of the new launches in the Outside Central Region (OCR). 11 units were launched in the Core Central Region (CCR), 86 units in the Rest of Central Region (RCR) and 627 units in the OCR.

Credits: Singapore Business Review

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