Bukit Sembawang Estates is set to launch previews for its new Upper Bukit Timah project, 8@BT, on Saturday, September 7th, with prices starting at S$2,530 per square foot (psf). This highly anticipated development consists of 158 condominium units, with about half dedicated to one- and two-bedroom configurations, catering to a range of buyer preferences.
The one-bedroom units range from 517 to 592 square feet (sq ft), while the two-bedroom options are between 624 and 829 sq ft. For those seeking larger living spaces, the three-bedroom units are sized between 1,001 and 1,270 sq ft, and four-bedroom units range from 1,356 to 1,593 sq ft. The development also includes two exclusive penthouses measuring 1,356 and 1,593 sq ft, respectively, offering luxurious living in a prime location.
Situated in District 21, 8@BT is a 99-year leasehold project that spans 49,633 sq ft of land. Bukit Sembawang acquired the site through a state tender in 2022 for S$200 million, translating to S$1,343 per square foot per plot ratio (psf ppr). The condo's units will be housed in two 20-storey blocks, offering sweeping views and a strategic location near the Bukit Timah Nature Reserve.
Lisa Goh, general manager of marketing and sales at Bukit Sembawang, expressed confidence in the project's appeal. "We believe that 8@BT will attract a wide range of buyers, from young couples to families and those looking to downsize. The development's location, growth potential, and pure residential nature make it a unique proposition," she said.
Industry experts agree that the project is poised to perform well, thanks to its location in a well-established residential area within the Rest of Central Region. Its proximity to the Bukit Timah Nature Reserve adds to its allure. Nearby projects, such as The Reserve Residences by Far East Organization, sold 520 out of 635 units at launch in May 2023, with an average price of S$2,460 psf. The Linq@Beauty World, another nearby development, sold 96% of its 120 units in November 2020 at an average price of S$2,150 to S$2,200 psf.
Chia Siew Chuin, head of residential research at JLL, noted that between June and August, only two major suburban projects were launched, both located in the Outside Central Region. SingHaiyi's Sora in Jurong sold 23% of its 440 units at launch, while Hong Leong Holdings' Kassia in Tampines sold 52% of its 276 units during its launch weekend in July. Median prices for Sora were S$2,152 psf, while Kassia achieved S$2,049 psf.
In addition to 8@BT, other developers are also gearing up for new launches. UOL will begin previews for its freehold Meyer Blue project on September 21st. This East Coast development will feature 226 units, with options ranging from two to five bedrooms and two penthouses. Additionally, City Developments is expected to launch Union Square Residences, a redevelopment of CDL's Central Mall and Central Square, later this month. This mixed-use development will feature 366 residential units.
Sales for 8@BT will officially begin on September 21st, with the project slated to receive its Temporary Occupation Permit by the fourth quarter of 2027.