Qingjian Realty and Santarli have made a record-breaking bid of S$662 psf at the tender launched by the Housing and Development Board (HDB) for the Altura Executive Condominium (EC) site in Choa Chu Kang. This joint venture between the two companies has broken the previous record of S$622 psf set by a consortium led by City Developments Limited (CDL) in Yio Chu Kang.

The Altura EC site, located at Choa Chu Kang Avenue 5, is an attractive location for developers. It is close to amenities such as shopping, dining and entertainment, and is easily accessible to the city via public transport. The tender closed on the 4th of May 2021 and the winning bid by Qingjian Realty and Santarli was significantly higher than the second-highest bid of S$631 psf.

This successful bid is a testament to the two companies’ commitment to delivering quality homes for Singapore residents. Qingjian Realty is a subsidiary of China’s Qingjian Group, which has been operating in Singapore since 2006. It has been involved in many successful residential projects, such as the The Visionaire and the New Futura. Santarli, on the other hand, is a Singapore-based developer with a strong focus on quality development.

The Altura EC project is expected to have a total of 551 units, with sizes ranging from two-bedroom units to four-bedroom dual-key units. The site has a maximum permissible gross floor area of 12,907 sqm and a maximum building height of 36m. It is expected to be completed by 2024.

The record-breaking bid of S$662 psf is a reflection of the strong demand for quality homes in Singapore. It also shows the confidence of developers in the Singapore property market, which has been growing steadily despite the Covid-19 pandemic.

The successful bid by Qingjian Realty and Santarli is an indication of the potential for the Singapore property market to continue to grow. Developers are increasingly looking to build quality homes at good locations, and this record-breaking bid is a testament to their commitment to do so. This is great news for Singapore residents who are looking for quality homes in a good location.

Qingjian Realty and Santarli have broken the record for the highest bid for an Executive Condominium (EC) tender in Singapore. On August 2, 2020, the joint venture submitted a winning bid of S$662 psf for the Altura EC site located along Anchorvale Crescent, making it the highest bid for an EC site in Singapore’s history.

The winning bid is not only a record-breaking achievement, but also an indication of confidence in the future of the property market in Singapore. The two companies have shown that they believe in the potential of the EC market and are willing to invest in it. This is especially important in the current climate where many investors are wary of the risks associated with investing in the property market.

Altura EC, situated at Bukit Batok West Avenue 8 with 375 units, Altura EC is a 99-year leasehold executive condo with a maximum gross floor area of 37,348 square meters.

The record-breaking bid of S$662 psf also highlights the growing demand for executive condominiums in Singapore. The demand for ECs has been on the rise since the relaxation of the qualifying criteria for EC buyers in 2018. Since then, more people have been able to qualify for ECs and this has led to increased competition and higher bids for available EC sites.

The Altura EC site is located in the mature estate of Anchorvale Crescent, which is known for its proximity to amenities such as schools, shopping malls and parks. The site also offers easy access to public transportation, making it an attractive option for potential buyers.

The bidding for the Altura EC site was highly competitive, with 17 bids submitted. Qingjian Realty and Santarli were able to outbid their competitors by a margin of S$10 psf, which is remarkable considering the competition.

The two companies have also announced plans to develop the site into a condominium with a mix of 1- to 5-bedroom units. The project is expected to be completed by 2024 and will offer a range of facilities such as a swimming pool, gym, and clubhouse.

The record-breaking bid of S$662 psf shows the confidence of Qingjian Realty and Santarli in the future of the Singapore property market and the potential of the Altura EC site. The two companies believe that the site has the potential to become a successful development and have demonstrated their commitment to the project by submitting a record-breaking bid.