CDL, one of the biggest property developers in Singapore, recently emerged as the top bidder for a new residential site at Bukit Batok West Avenue 5 (“the site”). The site, which sits on an area of approximately 7,316.2 square metres, was awarded to CDL at a price of $626 psf ppr, or $4.556 million in total.
This marks the latest in a series of successful bids by CDL, who have been increasingly active in the property market of late, both in the residential and commercial segments. With the successful bid, CDL has once again established itself as one of the top players in the Singapore real estate landscape.
The Bukit Batok West Avenue 5 site is located within a mature residential estate and is close to a variety of amenities, including schools, eateries, and shopping malls. It is also conveniently situated near the Bukit Batok MRT station and various bus stops. This makes it an attractive destination for potential homebuyers, who can easily access the city centre and enjoy a peaceful suburban lifestyle.
In addition to its prime location, the site is zoned for residential use. This allows for the development of a variety of residential projects, such as private condominiums, executive condominiums, and landed property. It is likely that CDL will take advantage of this zoning to develop a multi-storey condominium project, which could potentially have up to 800 units.
CDL’s successful bid for the Bukit Batok West Avenue 5 site serves as yet another testament to its strength and capabilities in the property market. The developer has been active in the Singapore real estate scene for more than four decades, and its portfolio includes a number of iconic projects. These include the iconic Marina Bay Sands, the luxurious The Ritz-Carlton Millenia Singapore, and the vibrant Orchard Road shopping belt.
CDL’s success in the Bukit Batok West Avenue 5 bid is likely to draw even more attention to the property market in Singapore. As one of the most sought-after residential locations in the country, the site is likely to be highly sought-after, and CDL’s presence could potentially drive up the market prices in the area.
At the same time, the successful bid is also likely to benefit the local community. CDL has a track record of developing projects that not only add value to the local neighbourhood, but also provide facilities and amenities that enhance the quality of life of its residents. This could mean that the development of the Bukit Batok West Avenue 5 site could bring even more vibrancy and life to the area, as well as provide more housing options for potential homebuyers.
Overall, CDL’s successful bid for the Bukit Batok West Avenue 5 site is a testament to both the developer’s capabilities and the potential of the property market in Singapore. With its prime location and attractive zoning, the site is likely to be highly sought-after, and the development of the project could bring more vibrancy and facilities to the local community.