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Thread: Le Quest mixed development by Qingjian

  1. #1
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    Default Le Quest mixed development by Qingjian


  2. #2
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    bukit batok 99LH at 1300 psf.! really, thousand years peak price.

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    Quote Originally Posted by tonymontana View Post
    bukit batok 99LH at 1300 psf.! really, thousand years peak price.
    Better don't sell out!! If not I will migrate out,.....

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    Quote Originally Posted by henryhk View Post
    Better don't sell out!! If not I will migrate out,.....
    There is a chance that u might ha ha.

    The location has high potential but 1300psf already priced in all that potential profits into the developers bank.

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    where is this? today @ lequest? that crowded for this location? unbelievable.

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    Quote Originally Posted by tonymontana View Post
    where is this? today @ lequest? that crowded for this location? unbelievable.
    Hundred Palm, EC

  8. #8
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    Was at the preview of Le Quest over the weekend with my wife. Was curious about any mixed development so drove up 20km from the East to take a look.

    This location is really quite interesting. Right at the edge surrounded by brand new BTO flats and a forest at its back. The timing of the MOP of these flats with Le Quest is slightly off but not a significant point. If you are after the rental commercial units, business will be buzzing. Good to know that they are not strata title. Food court, childcare and Fairprice will draw in the crowds to compete with West Mall.

    The real bug point for me is its location and indicative psf. It is located in a far corner at the end of Bukit Batok Ave 8 and there are no LRT/MRT upcoming. Counting the density, LTA might go put one stop at the upcoming Tengah instead of here. INZ residence EC might enjoy higher upside than this place due to its lower psf.

    At the indicative $1,300 psf, QJ is rather bold as there are no real competitors. Unless you are buying for own stay with your kids, parents have to be around this area, investors are best to stay away. Parc Rivieria is more well placed per psf than this place. The upside to this is tied closely to the fate of nearby HDBs. Fast forward 6 years from now, young couples who live there might want to skip this district altogether and move closer to the most happening place in Jurong.

    PS. The generator broke down while I am inside there. I was told that was not the first time. Viewed the showflat in complete darkness coupled with mobile phone light. Interesting experience but not very assuring. If you cannot even get your showflat right, what about the actual units?

    2 cents,
    PropVestor

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    Amazed that you took a jaunt all the way to BB.

    Purely IMO:
    This location CMI la, I am reasonably familiar with the west side. I don't even know what all that hype about jurong is but at least there's massive redevelopment there.
    however, i'm happy QJ is pricing it at 1300psf, it validates a lot of my long held beliefs.
    The best parts of BB is about scenic calm and greenery, nature trail etc. This Le quest location doesn't have that feel.
    Might as well buy cashew , dairy farm and hillview for D23, at that price point.

  10. #10
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    Default Bukit Batok mixed-use project set for preview this weekend

    Bukit Batok mixed-use project set for preview this weekend

    Jul 20, 2017

    Wong Siew Ying


    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.

  11. #11
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    Qingjian Realty to launch condo in Bukit Batok

    Construction of the mixed-use development, a first for the developer in Singapore, is expected to be completed by November 2021

    July 20, 2017

    Chin Yong Chang


    QINGJIAN Realty (South Pacific) Group said on Wednesday it is launching its first mixed-use development in Singapore.

    Located in Bukit Batok, the development offers 516 residential units and 6,000 square metres of retail space. While the developer had yet to confirm estimated average rental price for its retail space, it said the average price for its residential units was S$1,280 per square foot (psf).

    The 99-year-leasehold's sales launch will be on Saturday, and construction is expected to be completed by November 2021.

    Qingjian Realty (South Pacific) deputy general manager Yen Chong said Koufu and NTUC FairPrice Finest were the two anchor tenants for Le Quest, and hopes to partner close to 100 tenants for its retail segment.

    She expects more than 40 per cent of the retail units to be taken by food and beverage outlets, and the remaining space to be taken by other shops.

    While the average price of S$1,280 psf may seem high for a Bukit Batok property, Ms Chong said: "It's a fair price for homeowners. This is what we think is a good price that people can afford."

    She added that the site was near Jurong Lake District and the upcoming Jurong Innovation District.

    One of the development's selling points is its use of technology to integrate the living and commercial units for homeowners.

    For example, Koufu managing director Pang Lim said in Mandarin that he intended to integrate technologies such as robotics into the Koufu in Le Quest, potentially automating delivery services from Koufu to residents of the property.

    When asked about the viability of the retail venture, Ms Chong noted the lack of commercial options in the development's vicinity meant there would be little competition for Le Quest's retail outlets. "There's really nothing else nearby. So far we've received a good mix of interested tenants, ranging from cafes to pharmacists to enrichment centres for children."

    In May last year, Qingjian paid S$301.16 million - or S$637.57 per square foot per plot ratio (psf ppr) - to secure the 1.5-hectare site.

    ZACD Group head of research and consultancy Nicholas Mak said: "It is becoming more common to see residential properties in the outer regions costing above S$1,100, like this one.

    "The developer may have priced this property higher because they feel homeowners would pay more for a property if it is sitting atop a commercial centre."

    He explained that even though the average price was comparatively high, it may be attributable to the large number of studio and one-bedroom units.

    Qingjian said that of its 516 units, 36 are 431-sq-ft studio apartments, and 96 are 495-sq-ft to 614-sq-ft one-bedroom apartments.

    Mr Mak said: "This means close to a quarter of the units on offer are considered small units, and it means that the average price is higher since smaller units tend to cost more per square foot."

    According to Mr Mak, there have not been any property launches in the Bukit Batok area in at least a decade, the most recent one being the 280-unit The Jade condominium which launched in 2002.

    He said this has caused a lack of supply in the immediate area, and thinks this could work in the developer's favour.

    "Even though it is located quite far from central Singapore, there could still be demand in the form of Bukit Batok residents wanting to upgrade and move into better houses in the same area.

    "In the future, the market may accept the S$1,280 per sq ft price and it could even become the new norm for that region," he said.

  12. #12
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    http://le-quest-bukit-batok.com

    Shuttle bus service to Bukit Batok and Jurong East MRT stations

  13. #13
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    deleted repeat post

  14. #14
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    Floor plan really cmi... I lost count of the number of aircon ledges in a small 980sqft unit.
    At this rate, the QJ does not need to lay much aircon piping, since the condenser unit is right outside every room. Save cost, plus can charge the buyers for the psf on the unusable spaces. I have newfound respect for QJ.

    Pricing this at $1280psf on average is really... wow...

  15. #15
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    market is fast running out of brand new mass market units. after the current 10xxpsf and 11xxpsf units are cleared out, possibly by the end of this year, the new base price becomes FROM 12xxpsf.

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    Quote Originally Posted by bargain hunter View Post
    market is fast running out of brand new mass market units. after the current 10xxpsf and 11xxpsf units are cleared out, possibly by the end of this year, the new base price becomes FROM 12xxpsf.
    Balloting today seems like another overwhelming response.

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    Quote Originally Posted by azeoprop View Post
    Balloting today seems like another overwhelming response.
    The CMs can only hold so much water, Time will make it over flow.

    Keep money in the Bank can only let you buy fewer things.

    Just back from the coffee shop after 20 weeks overseas, 3 dollars fried fish noodle now 3.5 from July.

    https://www.omnicalculator.com/math/percentage-increase

    16.67% increase, don't know which bank offer this interest rate.

    Later uncle close shop I go take a photo to show ok.

  18. #18
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    Default Correction 10 July onward, still cheap and good.


  19. #19
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    Quote Originally Posted by azeoprop View Post
    Balloting today seems like another overwhelming response.
    u back in the market for purchase?

  20. #20
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    Quote Originally Posted by bargain hunter View Post
    u back in the market for purchase?
    Heard 50% sold....

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