![]() ![]() ![]() Looking at the data from the recent JadeScape, 97% of units have been sold before its TOP in 2022.Īnother project, Le Quest, has fully sold all 516 units while Forett Bukit Timah has sold one-third of its units within the first month of the launch. One undeniable thing is that QingJian Realty is steadfast in rectifying defects raised by residents and has shown a positive attitude in addressing residents’ concerns.ĭevelopments by Qingjian have been performing well in terms of transacted prices and percentage of cumulative units sold. In the same year, residents of RiverParc also reported rust collecting on the staircase as well as a need for interior material replacements, raising concerns among residents regarding the quality of building materials used. The family’s new EC unit had a strong smell of sewage coming from the master bedroom which remained unresolved for months despite attempts by the developer to find the source of the stench. One that made the news in 2015 came from a family staying in Qingjian Realty’s executive condominium project, RiverParc Residence. However, there were some hiccups for other developments that may have adversely affected their reputation amongst home buyers. Some notable projects include JadeScape, Bellewoods EC, Forett Bukit Timah and iNz Residences. They started as a sub-contractor of public housing in 1999 and later developed their first property, the Natura Loft, which was also the first DBSS project by a foreign developer. ![]() Qingjian Realty (South Pacific) Group is a subsidiary of Qingjian Group, a Qingdao-based conglomerate, and has been involved in property development in Singapore since 2008. Total Amount Invested for Land Bids (S$’000,000)Ĭhina State Construction Engineering Corporation So now that it’s been a number of years since the first entrance of a Chinese developer in 2009, it’s interesting to see how some of the top ones in Singapore have fared so far.įrom sky-high bids to no-sale licenses, we cover all you need to know about 4 of the largest Chinese developers in Singapore. Higher property prices based on demand and a growing economy are fine, but if the influx of Chinese capital pushes prices up because of over aggressiveness in competition then that would obviously not be ideal.įurthermore, Chinese developers also face a negative stigma of lower standard of quality of their developments, which was recently made worse by Hong-Kong linked developer Kingsford’s issuance of a no-sale licence. So even for the biggest developers in Singapore, you will definitely have to sit up and pay attention when the Chinese developers start muscling into the local property market.Īggressive bidding from China-based Logan Property Holdings and Nanshan Group ($1 billion for the GLS site on Stirling Road) and Qingjian Realty (Shunfu Ville for $632 million) made waves, with some fearing that it is only the beginning of an influx of capital-rich Chinese conglomerates into Singapore’s property market.īuyers will no doubt be concerned, as aggressive bidding can lead to higher property prices. The current king of the hill is Country Garden, with an approximate whopping $100 billion revenue posted for 2020. Just for context, CapitaLand is Singapore’s biggest developer – recording $6.5 billion revenue in 2020. So it’s probably to no one’s surprise that in the real estate sector, China’s biggest developers dwarf our local companies too. It has a population of 1.412 billion people, and it has the 4th largest geographical area in the world.Ĭomparatively, Singapore is ranked the 20th smallest country in the world (by size), with a population size of just 5.69 million. Make no mistake, China is big in many ways. ![]()
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