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.