THE LUMINA GRAND EC
Lumina Grand Executive Condominium . By CDL
Register for Preview . New Bukit Batok EC Launch
Register for Preview . New Bukit Batok EC Launch
This presents the launch of the Lumina Grand EC, a new executive condominium in the north-west of Singapore. It sits at the corner of Bukit Batok Road and Bukit Batok West Avenue 5, just across from Tengah new town.
Hence while enjoying the amenities of the established Bukit Batok HDB estate, it will also benefit from all the new features, the bells-and-whistles, that are in the works for Tengah.
“Lumina” is derived from the Latin word Lumen – which means bright – that encapsulates its “Live Greener, Live Brighter” ethos. Following from that, a luxury EC that boasts new standards of green and smart features.
The developer for the Lumina Grand condo is CDL Zenith Pte Ltd, a wholly-owned unit of City Developments Limited (CDL). It is looking to launch for Preview E-Applications and Sale in January 2024.
CDL has a long-standing reputation for quality work, with many developments under its belt. These include several executive condos as well, the last of which was Copen Grand EC close by in Tengah. Copen Grand did not stay long on the market, possibly due to the scarcity of new EC projects then. It launched in October 2022 and sold out in November 2022, barely a month later.
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The Lumina Grand EC . Amenities
As mentioned, this project sits in Bukit Batok HDB town, on its north-west border. That places it very close to the new Tengah estate, that is just across Bukit Batok Road.
The location itself is not extremely convenient or very central. There are no MRT stations or big shopping malls within short walking distance.
However, diagonally just across Bukit Batok Road, at the Parc Residences precinct ground floor, is a HDB neighbourhood retail area. There is another one at the ground level of Plantation Village precinct too, with the usual neighbourhood F&B and shops. In addition, Le Quest neighbourhood mall close by houses a Fairprice supermarket, and the usual food court, shops and clinics.
If you don’t mind a slightly long walk, both Tengah Plantation and Tengah Park MRT stations on the Jurong Region Line are reachable on foot. Of the two, Tengah Plantation station is probably slightly nearer, at about 12 or 13 minutes walk in direct line.
To do that, one cuts across Parc Residences and gets onto the park connector that runs past the station. It is a fairly pleasant walk. The Parc Residences section is partly sheltered, while the park connector section offers some greenery.
Or residents might prefer to take a short bus ride to Bukit Gombak station on the North-South MRT Line.
What this place does have though, is easy access to parks and the park connector network. Bukit Batok Hillside Park is within five minutes walk east of the site. Also, the park connector network runs past right across Bukit Batok Road. In fact, Tengah estate is criss-crossed by greenery corridors, living up to its name as a “forest town”.
But undoubtedly one of the main attractions here, as far as families with young children are concerned, is the new Anglo-Chinese School (Primary) at Tengah Park Avenue, within the 1KM radius. Better yet, this will be co-ed, and will open its doors around 2030, not long after Lumina Grand completes.
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Register interest for details or showflat viewing.
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Lumina Grand Executive Condo . Neighbourhood
Besides the new Tengah estate to its north-west, Bukit Batok also borders Jurong Lake District to its south-west. Both are up and coming growth areas.
URA’s grand plan and vision for Tengah is to develop it into innovative, sustainable “smart” forest town. It will be Singapore’s newest, and most advanced estate, and the first to integrate native greenery into its planning.
A 5km long x 100m wide forest corridor runs through the town, that will be a biodiverse rainforest habitat. Walking trails will wind their way across the community-centric neighbourhoods, allowing residents to get close to greenery and nature.
The master plan for Tengah, Singapore’s 24th HDB town, was announced by MND in 2016, seven years ago. Lumina Grand residences will be able to tap onto the many amenities and new features this estate will offer.
As for Jurong Lake District (JLD), along with Jurong Innovation District beside it, the plans are, if anything, even grander. URA’s masterplan is for JLD to become Singapore’s largest business hub outside the city centre. It envisions it as a vibrant work, play, live, and learn environment, and tourism hub, against a lakeside park setting.
The Jurong Innovation District (JID), an advanced industrial, innovation and manufacturing hub spread across 600 hectares, will complement that. It is projected to create 95,000 jobs, that will draw demand for manpower and housing.
Growth areas like these estates tend to offer better capital appreciation potential. The Lumina Grand executive condo looks like it could ride on the crests of these waves as well.
The Lumina Grand EC . Overview / Background
CDL acquired the site through the HDB sale tender for it, with the highest bid of SGD$336.068 million. This works out to a land rate of $626 PSF PPR (per square foot per plot ratio).
What was interesting about the tender, was that the four bids for this site were extremely close. The difference between this top, winning bid, and the lowest bid, was a mere 1.5%. In fact, the second highest bid was just a whisker away, 0.17% lower at $625 PSF.
Nicholas Mak, ERA’s Head of Research then, commented that it showed that, “…EC developers are facing similar cost structures for the development of ECs…”.
CDL was understandably upbeat about the win. Its group chief executive officer, Sherman Kwek said that they were “… very pleased to emerge as the top bidder for this tightly contested EC site in Bukit Batok West, especially at such a narrow margin of victory. 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, as well as good connectivity to such a key business, lifestyle and tourism hub. We look forward to transforming this expansive site into a sustainably designed and well-built residential landmark.”
He also announced then, that CDL would explore a project configuration for the site comprising ten blocks. Each would be 12 to 13 storeys high, housing about 510 residential apartments and a basement car park.
Lumina Grand EC as an Investment
If you are looking at this Bukit Batok EC from an investment angle, here are some points to think about.
Affordability / Safe Entry Price
Executive condos (ECs) are built by private developers, the same ones who build private condominiums. But all things being equal, they are sold at 15% to 25% less, for comparable locations.
In addition, first time buyers may qualify for the CPF Housing Grant, up to $30,000, to help fund the unit.
Another advantage is that buyers who currently own a home don’t need to pay the Additional Buyers Stamp Duty (ABSD). But they are required to sell their existing home within 6 months of TOP of Lumina Grand condo.
And subject to income assessment, those with outstanding mortgages may still qualify for the maximum 75% loan for the EC.
That’s the good news. The not-so-great news is, there are more stringent restrictions on loans.
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Financing
For ECs, loan computations are based on the 30% Mortgage Servicing Ratio (MSR). That is just slightly over half of the 55% TDSR used for computing private home loans.
Which basically means that, you could get almost twice as much loan for a private condo as for an EC. Sure, it’s great for financial prudence, since it forces buyers to take a smaller loan quantum.
But it does make it very hard to buy one of the bigger units. Take the scenario of a couple below 36 years old (to qualify for the maximum 30 years loan tenure), with a combined monthly income of $16,000 (since that is the income ceiling to buy an EC unit). And who need to take 75% loan if their savings + CPF funds can just about cover the 25% downpayment + stamp duty.
Even after adding one month bonus into the calculations, the most loan they can get for an EC is $1.05M. That works out to a maximum purchase price of $1.4M, which is usually the pricing of the smaller 3 bedders. (The irony is that, for private property, the same buyer could get almost twice as much loan. But of course, he would need to pay a higher downpayment and stamp duty too.)
It is hardly surprising therefore, that a large proportion of EC buyers these days, are 2nd timers. They use their gains from their first property purchase, to fund their climb up the property ladder. Or they are first timers who are getting a helping hand from their parents.
Either way, EC units have been selling quite briskly, as seen in recent ones like Altura, Copen Grand and Tenet. Big units in these have proven especially popular. There is no shortage of takers, even if they are priced well above $1.4M.
The main lure appears to the fact that such big units typically cost a whole lot more in private condos. So this is seen as a chance to get one at a huge discount.
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Value
Despite the lower pricing, Lumina Grand executive condo will have similar finishes and fitting as mass market private condos. It will also offer pretty much the same range of facilities.
What distinguishes ECs from private condos, is that they almost never offer one bedders, and few two bedders, if any. Configurations available usually range from 3 bedroom to five bedroom units.
The reason is that they must be owner-occupied during the first five years after completion. Hence they are targeted at, and typically designed for families. Which means more family-friendly layouts, with bigger bedrooms and living areas, and more spacious kitchens.
This should appeal to buyers who prefer more space, whether buying new, or on the resale market in future.
Especially since once past the 5-year MOP (Minimum Occupation Period), the 55% TDSR applies, as for private condos. So if you sell after the MOP, your buyer can generally qualify for a higher loan, and there is no income ceiling. Which means all in, potential resale buyers can afford to pay a higher price for your EC unit.
On the flip side, new executive condominiums are mainly (or only) found in the suburbs. There has not been any land released in the central areas for ECs, over the last 15 years or so. So if you are hoping for a prime location EC, you are out of luck.
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Capital Appreciation
While enjoying lower prices at launch, their prices generally rise after MOP, to close the gap with comparable private condos. Hence ECs have historically averaged higher capital gains than other property classes.
Typically there is one price jump upon fulfilling the MOP, when units can be sold to Singapore PRs and citizens. Then another jump upon the 10th year, when it becomes fully privatised and can be sold to foreigners as well. (This is on top of the tide of price rises from inflation, which applies to all assets, new or resale.)
The other EC advantage is that it allows owners to acquire a second residential property later, without paying ABSD. ECs after the MOP are treated like other private property. So owners can “de-couple” to buy another property without incurring ABSD, a privilege not accorded to HDB flat owners.
The 15% to 25% lower pricing of new ECs vs private condos, also acts as a buffer against any market drops. That makes executive condos a relatively “safe” investment option.
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Register interest for details or showflat viewing.
Project FactSheet
Name | Lumina Grand |
Developer | CDL Zenith Pte Ltd (Wholly-owned Subsidiary of City Developments Limited) |
Status | Executive Condominium (Main applicant must be Singapore citizen) |
Address | 1, 5, 7, 9, 11, 13, 15, 17, 19, 21 Bukit Batok West Avenue 5 |
District | 23 |
Site Area | 16,623.7 m² (178,936 sq ft) |
Floor Area | 49,871.1 m² (536,812 sq ft) |
Plot Ratio | 3 |
Tenure | 99 years commencing from 27 December 2022 |
Vacant Possession | 31 March 2029 |
No. of Blocks | 10 |
No. of Storeys | 2 Blocks of 12 Storey + 8 Blocks of 13 Storey |
No. of Units | 512 Residential Units |
Architect | P&T Consultants Pte Ltd |
Landscape Architect | Con Design International Pte Ltd |
Builder | Woh Hup (Private) Ltd |
Project ID | Index Design Pte Ltd |
Lumina Grand EC Floor Plans
Please drop us a note via the Contact Form if you would like the full set of Lumina Grand floor plan brochure. Thank you.
Example Floor Plans
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The Lumina Grand EC Site Plan
The Lumina Grand site is a mid-sized L-shaped land parcel spanning 178,937 square feet. It sits at the corner of Bukit Batok Road and Bukit Batok West Avenue 5, in a tilted orientation.
The site mainly faces other high-rise developments, both existing and future. Like the new HDB flats of West Scape, to its north-east.
Across the roads to its north-west and south-west, are also HDB precincts. Some, like West Edge, have already completed. Others, like Parc Residences, are undergoing construction, while the plot to its north-west is currently empty.
Perhaps the saving grace about these high-rises, is that they may partially block the west afternoon sun. The roads in between also help to provide some space and privacy on these sides.
At the south-east boundary, is actually another executive condominium, Altura, that launched for sale recently in August 2023. As of September, Altura has sold 60% of its units, which bodes well for Lumina Grand EC’s upcoming launch.
The only facing that offers some openness long-term, is southwards, overlooking a school site across Avenue 5.
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Lumina Grand EC Showflat · Viewing
LAUNCH TIMELINE
Showflat Viewing Slots: 12 to 22 January 2024
E-Application Period: 12 to 22 January 2024
Price List Release: 24 January 2024
E-Balloting: 26 January 2024
Booking / Sales Day: 27 January 2024
We are taking bookings for Lumina Grand showflat viewing now.
Please drop us a note in the Contact Form below if you wish to view the showflat, or to clarify requirements for an e-application, or understand the booking process.
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E-Application & Booking of Units
Buyers need to submit an e-application in advance, if they wish to take part in the balloting and booking of units. This e-Application is only valid when done at the systems at the Lumina Grand EC showflat, not online.
Only those who qualify will be allowed to book a unit. To check eligibility, and what the possible payment structures and grants are, please refer to the following guides. (Opens in new window.)
- Executive Condominium Buying Guide
- Executive Condominium Eligibility Rules
- Payment Structure for Executive Condominiums
The Lumina Grand EC Prices · Unit Types
UNIT TYPES . SIZES
Unit Description | Type | No. of Units | Strata Area (sq m) |
Strata Area (sq ft) |
3 Bedroom | A1,A2 | 104 | 87 | 936 |
3 Bedroom Premium | A3,A4,A5,A6 | 202 | 90 – 91 | 969 – 980 |
4 Bedroom | B1,B2,B3,B4 | 155 | 106 – 118 | 1,141 – 1,270 |
5 Bedroom | C1,C2 | 51 | 139 | 1,496 |
Total Number of Units | 512 |
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
THE LUMINA GRAND CONDO PRICE RANGES
The indicative starting Lumina Grand pricing for the VIP Preview launch is listed here. Please let us know via the Contact Form if you wish to be kept posted on prices of specific units.
Exact price lists will be made available before the actual balloting and sales dates.
Unit Description | Price Starts From (SGD$) |
Share Value |
Estd Monthly Maintenance |
3 Bedroom | From $1.338M Up | 6 | $378 + GST |
3 Bedroom Premium | From $1.388M Up | ||
4 Bedroom | From $1.628M Up | 7 | $441 + GST |
5 Bedroom | From $2.098M Up |
LUMINA GRAND PRICING BACKGROUND
City Developments (CDL) acquired the site at a top bid of SGD$336.068 million. Measuring 178,937 square feet and with plot ratio (ratio of maximum floor area to land area) of 3, that translates to a maximum GFA (Gross Floor Area) of 536,812 square feet.
So the land purchase price works out to a rate of $626 per square foot per plot ratio (PSF PPR).
After adding in construction and all related development, financing and overhead costs, the breakeven could be slightly above $1,200 PSF.
It would not be surprising therefore, if CDL were to sell at close to the pricing of Altura next door, which launched at an average of $1,433 PSF.
Compared to average private condominium launch prices of around $2,000 PSF and above, that is a “discount” of around 25%.
But the signs are that the next round of EC pricing could be even higher.
In a tender that attracted nine bids, Hoi Hup + Sunway Developments won the Plantation Close EC site Tengah on 11 September 2023, at a record land rate of $703 PSF PPR. Based on that, analysts are predicting launch pricing of around $1,500 PSF for it.
About the Developer
CDL is undoubtedly one of the most well regarded and established home-grown developers in Singapore. It is currently developing other projects too, including Copen Grand at Tengah, The Myst, Tembusu Grand, and Piccadilly Grand.
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About City Developments Limited (“CDL” or the “Group”)
CDL was established as far back as 1963. It has contributed much to Singapore’s built environment since then, including several award-winning green buildings in recent years. Today it is one of Singapore’s largest companies by market capitalisation, and is listed on the SGX.
The Group’s core businesses are real estate development and investment, hotel ownership and management, hospitality solutions, and facilities management. It is probably one of our most recognisable and trusted brand names locally for residential property.
Worldwide, CDL is a leading property and hotel concern, with set ups in 143 locations across 28 countries and regions. These involve a network of more than 300 subsidiaries and associated companies. Seven of them are listed on the respective stock exchanges of London, the Philippines, New Zealand, and Hong Kong.
They helm a diversified global portfolio of over 21 million square feet of lettable real estate in integrated developments, hotels, offices, retail malls, residences, and serviced apartments.
CDL consistently wins new awards for delivering “green” buildings, and has amassed 120 BCA Green Mark certifications to date. That makes it one of the developers with the most Green Mark Platinum awards since the scheme launched in 2005.
It earned the Building and Construction Authority’s (BCA) Quality Excellence Award – Quality Champion award in 2022. This award recognises a developer’s (or builder’s) commitment, and achievements in delivering quality homes through quality assurance, and excellent workmanship. It is an award CDL has won ten years consecutively, showing its unwavering commitment to quality “green” buildings and homes.
Incidentally, its last EC launch Copen Grand, has the distinction of being Singapore’s first BCA Green Mark Platinum SLE EC.
In its 60 years of property development so far, CDL has built a lot of homes, 50,000 at last count. Some local projects include Cliveden at Grange, St. Regis Residences, Cuscaden Residences, Gramercy Park, Boulevard 88, Nouvel 18, The Residences at W, The Oceanfront @ Sentosa Cove, The Sail @ Marina Bay, Tribeca, One Shenton, Golden Hill Villas, Goldenhill Park, and Amber Park.
It has developed and sold out a number of executive condominium projects too. Projects like Lush Acres, Rainforest, Blossom Residences, Brownstone, Criterion, Piermont Grand, and recently, Copen Grand.
CDL is also currently building Canninghill Piers, a beautiful integrated development, together with Capitaland.
CDL’s long-standing commitment to sustainability is affirmed by leading global sustainability rankings and ratings. It has been ranked one of the Global 100 Most Sustainable Corporations in the World by Corporate Knights. Rated 28th in 2023, it is the only Singapore company in the list for 14 years consecutively. It also maintained its position, for the 5th consecutive year, as the world’s topmost sustainable real estate development and management company.
For more information on City Developments, see www.cdl.com.sg (opens in new window).
Lumina Grand EC Location · Features Summary
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Location. The project is located in Bukit Batok estate, at its boundary with Tengah new town. Hence it is well placed to enjoy the amenities of both estates.
It is also just north of the Jurong Lake District (JLD), and of the Jurong Innovation District (JID).
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Schools. The Lumina Grand location is quite good for families with young school-going children too. It is within 1 KM of a number of primary schools, that likely includes St Anthony’s Primary School.
And of course the most newsworthy one is Anglo-Chinese (Primary) School, moving to Tengah Park Avenue around 2030. That’s within 1 KM too, and better still, it will turn co-ed as well. So if you can get your first child in, the rest are assured of places too. Other educational institutions in the vicinity include Dulwich College, and Millenia Institute.
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Shops, Supermarkets, F&B, Banks. However the Lumina Grand EC location is not walkable to any major shopping centre. But as is the case in most HDB estates, there are always neighbourhood shops and small shopping centres around.
Le Quest neighbourhood mall is about 500m, or 7 minutes walk away. It provides the usual shops and services, food court and other F&B outlets, a Fairprice supermarket, and clinics. Across Bukit Batok Road, there are HDB neighbourhood F&B and retail options too, at Parc Residences and Plantation Village precincts.
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Nearest MRT Station. The location is not really within walking distance of an MRT station either. Unless you don’t mind a longish, though pleasant walk. Tengah Plantation station on the Jurong Region Line is about 12 to 13 minutes away, partly via a park connector.
Alternatively, you could hop onto a bus to the Bukit Gombak MRT station on the red North-South line.
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Parks & Leisure Options. What this place does have is quick access to Park Connectors, and parks. Close by, within 5 minutes walk, we have Bukit Batok Hillside Park. Then across Bukit Batok Road, is the “forest town” of Tengah, so called because it will be criss-crossed by lots of greenery corridors and park connectors. In fact one of the connectors runs just opposite the site.
With these enhancements to green spaces and waterways, and the new parks, residents can get closer to nature. The blue and green networks thus created will help enhance biodiversity in the living and working environment too.
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Accessibility. The Lumina Grand condo location enjoys quick access to the island-wide expressway network. The nearest exit onto the PIE (Pan-Island Expressway) is less than 3 KM down Bukit Batok Road. Alternatively, a 5 KM drive up Bukit Batok Road and via Bricklands Road leads to the Kranji Expressway.
CONTACT FORM
