Le Quest Bukit Batok by Qingjian Realty
Qingjian Realty is a developer based in Singapore, which is part of the Qingjian Group Co., Ltd., a conglomerate with a wide range of business operations such as contracting, investments, real estate development, capital management, logistics and more. The parent group's projects have included the Olympic Sailing Centre, the Liuting International Airport, and residential and commercial towers.
The board of directors of the Company is pleased to announce that its subsidiaries in Singapore, Qingjian Realty (BBR) Pte. Ltd and Qingjian Realty (BBC) Pte. Ltd have successfully tendered for a commercial and residential development site at Bukit Batok West Avenue 6 in Singapore, at total consideration of S$301.16 million.
The project sits on a Land Parcel of 14,696.7 square metres. The total maximum gross floor area (GFA) of the site is 44,091 square metres including approximately 6,000 square metres of commercial area and approximately 38,091 square metres of residential area. The Project is the first mixed development project to be undertaken by the Group in Singapore.
In view of the location and the designated use of the Land Parcel, the Directors consider Qingjian Realty’s submission is in line with the business development strategy and planning of the Company. Given the Project’s close proximity to the Jurong district in Singapore and the success of recent mixed development launches in Singapore, the Directors are of the view that these positive indicators will contribute to the future success of the development of the Group.