- Qingjian Realty
It seems the investment in smart-home tech has paid off for property developer Qingjian Realty (South Pacific) Group.
The real estate firm’s latest mixed-development project in Bukit Batok was oversubscribed on Saturday, the first day of its launch.
According to The Business Times, while 200 units were initially released for sale, a total of 280 units were eventually sold on the first day alone.
Qingjian said in a press release that the units were transacted at an average of $1,280 per sq ft.
Le Quest is the first new private development in Bukit Batok for more than 10 years, and is also the first mixed-use development in Bukit Batok West. It will have 516 residential units and more than 6,000 sq m of commercial space.
Anchor tenants in the retail space include Fairprice Finest and Koufu.
When Business Insider spoke to Qingjian Realty deputy general manager Yen Chong last week, we were told that several smart-home technologies have been included as “standard provisions” for buyers.
This includes smart doorbells, digital locks and smart air-conditioners.
“The enthusiastic response today gives us confidence that Qingjian Realty is delivering what homebuyers want – fuss-free, convenient living empowered by technology,” Chong said.
Previously, the executive also told Business Insider that buyers these days tend to look out for value-add provisions which can make day-to-day tasks more convenient.
Ismail Gafoor, CEO of PropNex said that Le Quest’s location is a large factor in its launch success. “Its Bukit Batok location is a huge draw with its proximity to up-and-coming projects like the Singapore-KL High Speed Rail Terminus and the rejuvenation by the Urban Redevelopment Authority (URA)’s Master Plan,” he said.
Le Quest is slated to receive Temporary Occupation Permit (TOP) by end-2021.