Lumina Grand is the name for City Development Ltd latest Executive condominium at Bukit Batok

Artist impression of Copen Grand,a recent EC which has the same developer as Lumina Grand,City Developments Limited

In Sept 2022, City Developments Limited was awarded the coveted site at Bukit Batok West Avenue 5.

It was a very tightly contested site which they won with a winning bid of $336,068,000 or $626.03 psf per plot ratio.

Just as notable, it is below the $662 psf ppr for its neighbouring EC which is Altura by Qingjian Realty and Santarli Construction.

At this point of writing, Altura has sold 88% and in our September 2023 new launches update in Singapore, it has sold 100 units for the month of Septemer 2023 at a median price of $1,473psf.

It is estimated that there will be around 10 blocks between 12 to 13 storeys with around 510 residential units.

According to City Development's Group CEO, Sherman Kwek,

"Given the site's proximity to the upcoming Tengah New Town and Jurong Lake District,it will benefit from easy access to a wide range of amenities and good connectivity to such a key business,lifestyle and tourism hub"

Personal View of Lumina Grand

Executive condominiums have been selling very well for the past years and this is reflective of its affordable pricing that is below that of its full private status condominiums. Personally I think every Singaporean who is able to qualify for ECs should at least consider them.

All else equal, bigger developments tend to have higher demand with more impressive facilities. With a site area of 178,937sqft vs the 134,541sqft for Altura, CDL will have more room to create a development with more facilities.

Another angle to look at it is that Altura has 360 units versus the estimated 510 units for Lumina Grand.

The future average selling price of units may start from around $1,3xx and the upper range may exceed $1,600 psf.