The Lumina Grand is making a big splash in the Singapore housing market. It’s the first executive condominium (EC) of 2024. This exciting project is found in Bukit Batok, with 512 units in 10 blocks.¹ Surrounding by nature, it’s developed by City Developments Limited (CDL) for a special and green living.¹

This luxury EC stands next to the already popular Altura EC, which sold 88% of its units in 2023.¹ Being close to places like Jurong’s innovation districts and Tengah Town attracts many. Adding nearby MRT stations like Bukit Gombak and Tengah makes it even better for getting around.¹

By March 2024, there were many units left at Lumina Grand. You could still choose from 90 3-bedroom, 26 4-bedroom, and 33 5-bedroom places. They range in price from $1,451 to $1,483 per square foot.¹ This means it’s a hit with buyers, fitting their needs well.

Key Takeaways

• Lumina Grand is the first EC launch of 2024 in Singapore, offering 512 units across 10 blocks.
• The project is developed by the reputable City Developments Limited (CDL), with prices starting from $1.34 million for a 3-bedroom unit.
• Lumina Grand is positioned as a “luxury EC,” boasting green and smart home features, and is located near major business hubs and upcoming amenities.
• The project has a good number of remaining units available as of March 2024, with pricing ranging from $1,451 to $1,483 per square foot.
• Lumina Grand’s strategic location, developer reputation, and competitive pricing are expected to be key factors driving buyer demand.

Lumina Grand EC: An Overview

Location and Accessibility

Lumina Grand EC sits next to the almost sold-out Altura EC. It’s near big business areas like Jurong Innovation District and Jurong Lake District.² Nearby, you’ll find three new MRT stations coming up, ready by 2028. These are Bukit Gombak, Tengah Plantation, and Tengah Park.²

Site Details and Unit Configurations

Covering a 99-year land sale, Lumina Grand attracted four bids. City Developments Limited (CDL) won the bid. There will be 10 blocks, 512 units in all, with 3, 4, and 5-bedrooms.² It’s close to the future Anglo-Chinese Primary School, great for families. Plus, with a view of green spots like Tengah Plantation Village and Bukit Batok Hillside Park, it offers a serene setting.³

Choosing from 3-bedroom to 5-bedroom options, buyers have plenty of choices. The smaller 3-bedroom units overlook HDB flats and the main road, perfect for those watching their budget. The bigger units come with more space and cool features like wet and dry kitchens.³ As for communal features, Lumina Grand will have a pool, gym, and gardens. It aims for a greener, smarter living, following the motto “LIVE GREENER, LIVE BRIGHTER”.⁴

Even in March 2024, Lumina Grand has many units left, like 3-bedrooms, 4-bedrooms, and 5-bedrooms. Prices per square foot range from $1,451 to $1,483.³

Developer Background: CDL’s Track Record

City Developments Limited (CDL) is a top property developer in Singapore with over 60 years in the business. Led by Shermine Kwek, it’s known for top-notch projects.²

Recently, CDL has been keen on snagging state land. Although facing difficulties in China, its local market expertise helps with Lumina Grand. It’s all about sustainable, smart living, matching Lumina Grand’s aim to “LIVE GREENER, LIVE BRIGHTER”.⁴

CDL’s solid history in executive condos builds buyer trust in Lumina Grand’s quality.³

Lumina Grand EC Is it bad: Evaluating the Pros and Cons

Strengths: Proximity to Business Hubs and Future Amenities

Lumina Grand is close to big business spots. It’s by Jurong Innovation District and Jurong Lake District.⁵ This makes it great for people working nearby. It’s also near Tengah Town’s future amenities.⁵

There will be new MRT stations nearby, too. These will be ready by 2028.⁶ Living here means easy travel around Singapore. You’ll also see lots of green spaces.⁷

Weaknesses: EC Eligibility Criteria and Restrictions

But, Lumina Grand has some tough rules, too. To buy a home, you need a Singapore household. And you must earn at least $12,000 a month together.⁵

This might be too much for some people. Also, there’s a limit on who can buy when the project starts.⁶ Getting the money together to buy can also be hard. The upfront costs are a lot. This might put off first-time buyers.⁵

Opportunities: Future Developments and Potential Upside

There are good things coming near Lumina Grand. The area next to it could soon have more places and jobs.⁵ Projects nearby have made their areas more popular and valuable.⁶

If Lumina Grand is priced right, it could be a good deal. CDL thinks it could do well because of these changes.⁷ It could grow a lot in value. We’ll have to wait and see.⁷

Threats: Timing of the Market and Upcoming Competition

The market timing might not be great for Lumina Grand. Prices are high now but might not stay that way.⁵ New projects in Jurong, like SORA, might be pricier.⁶ There’s also a future EC that could cost $1,600 psf. And with many choices in the market, Lumina Grand might have a harder time selling.⁷

Pricing and Value Analysis

Lumina Grand’s prices start at $1.34 million for a 3-bedroom place. That’s about $1,429 per square foot. It’s a better deal than nearby Altura EC, selling at $1,433 per square foot. Newer condos in the area are selling for up to $2,800 per square foot. This shows Lumina Grand might be a good buy.

Lumina Grand’s price is about 5% more than Altura’s. This might be on purpose to show it’s a great choice among ECs. Buyers might like Lumina Grand because it’s cheaper than some private condos. Yet, it still offers a chance for the prices to go up in value later.

Lumina Grand costs less than the future EC along Plantation Loop, which will sell at a 9% higher rate. This can make Lumina Grand more appealing to budget-conscious buyers. They get EC benefits without paying as much.²

Affordability and Potential for Capital Appreciation

Buying a unit at Lumina Grand for $1.34 million is a big step. This is especially true when looking at the costs involved, like down payments. Yet, it’s cheaper than private condos nearby. This makes it an option for more homebuyers.

Investing in Lumina Grand might lead to property values going up. The market has been doing well. But, Lumina Grand’s lower prices could protect you from big drops. It could still offer good profits later.⁸

Lumina Grand could be great for people who want to upgrade to a private place. It’s much more affordable than other private condos close by. This makes it a chance to get into the market at a lower cost and watch the value grow.⁹

Lumina Grand EC Is it bad: Buyers’ Sentiment and Market Response

Expert Opinions and Reviews

The Lumina Grand project has caught the eye of many. Especially those looking for a great place in the Bukit Batok area. Its good reputation, nice location, and fair prices are big draws.¹⁰ Many experts think this project meets the growing demand for ECs in Singapore. They like that it’s eco-friendly and has smart home features. These things might really appeal to people who care about the environment.¹¹

Some experts have worries about the timing of the project’s launch. But most feel positive about it. Its nearness to business areas and upcoming amenities, plus CDL’s strong history, should mean good news for the project.¹⁰

Sales Performance and Demand Trends

The Lumina Grand is new, so we don’t know much about its sales yet. But, experts keep an eye on it. Its launch is a big sign for the demand for ECs in Singapore.¹⁰ Other nearby projects, like Altura EC which sold 88%, show a lot of units might sell here too, especially to first-timers or those from HDB flats. The Lumina Grand offers many different kinds of homes to fit everyone’s needs.¹¹

By March of 2024, many units in Lumina Grand had already sold. This shows the project is doing well. There are still choices left for buyers. This means the project has what people want in the market right now.¹²

Conclusion

Lumina Grand looks like a great choice in Singapore’s Bukit Batok. It’s in a good spot³ and the developers are strong³. The price is good too, compared to private condos nearby.

But, there are some tough parts. You need to meet certain rules and have money upfront for ECs. There’s also new places coming which might be rivals.

Still, Lumina Grand is set as a special “luxury EC.” It has cool green and smart home things. Plus, it’s near work places and places that will be built soon. All these make it a good choice for those wanting a home in the west³.

There are still units left and people really like it. So, it might be hard to get one³.

Choosing Lumina Grand is up to what you want and can do. It’s a good chance for a lovely home in a top area. But, everyone should think about what’s important to them and check if Lumina Grand fits their needs.

FAQ

What is the location and accessibility of Lumina Grand EC?

Lumina Grand is right next to the 88% sold Altura EC. You can find it along Bukit Batok West Avenue 5. It’s close to big work areas like Jurong Innovation District. And near the Jurong Lake District too. You can easily reach three upcoming MRT stations. They should be ready by 2028. The stations are Bukit Gombak, Tengah Plantation, and Tengah Park.

What are the site details and unit configurations of Lumina Grand EC?

There will be 512 units in Lumina Grand. They will be in 10 blocks. There are 2 blocks of 12 stories and 8 blocks of 13 stories. You can choose from different units. For example, there are 3-bedroom, 3-bedroom premium, 4-bedroom, and 5-bedroom units available.

What is the developer background for Lumina Grand EC?

City Developments Limited (CDL) is developing Lumina Grand. CDL is a well-known developer in Singapore. They have over 60 years of experience. People trust them for their quality projects.

What are the strengths of Lumina Grand EC?

Lumina Grand’s location is a big plus. It’s very close to two major work areas. This makes it a great choice for working people. Plus, it’s getting three new MRT stations soon. This will make travel even easier.

What are the weaknesses of Lumina Grand EC?

One downside is the strict rules for buying here. You must form a Singapore household. And your total family income must be at least $12,000 a month. Many people with high incomes might not meet these requirements.

What are the opportunities for Lumina Grand EC?

The URA Master Plan shows future development near Lumina Grand. There are two sites nearby for commercial and residential use. These sites could bring new places for fun and work. This might make living here even better.

What are the threats to Lumina Grand EC?

The property market’s future could be a challenge for Lumina Grand. Prices in Singapore have been high. We don’t know if they will keep going up. Also, there will be other new places in the Jurong area. These could be competition.

How does the pricing of Lumina Grand EC compare to nearby projects and market rates?

A 3-bedroom unit at Lumina Grand starts at $1.34 million. This is priced at about $1,429 per square foot. It’s slightly lower than the $1,433 psf at Altura EC. But, new condos around here are selling at $2,800 psf.

How affordable is Lumina Grand EC, and what is the potential for capital appreciation?

Lumina Grand’s price, starting at $1.34 million, is a big commitment. Yet, it’s a bit more affordable than private condos nearby. Buying here could help guard against market swings. You might also see good growth in value over time.

What is the overall buyer sentiment and market response to Lumina Grand EC?

Experts believe many people will be interested in Lumina Grand. Especially those looking for an executive condominium in Bukit Batok. The developer’s good name, the great location, and fair prices are attractive to potential buyers.