CNQC’s SG Project Le Quest Launches Phase Two Sales; 60% of Units Sold in the First Day

(23 May 2018 - Hong Kong and Singapore) CNQC International Holdings Limited ("CNQC International," "the Company," together with its subsidiaries, collectively "the Group,” stock code: 1240.HK), a leading property developer and contractor in Singapore, is pleased to announce Le Quest, a mixed development project owned by CNQC International, launched its phase two sales on 19 May 2018 in Singapore, with 60% of the units selling on the first day.

Located at 41 Bukit Batok, Le Quest is the first mixed development project owned by the Group in Singapore. It has 516 residential units, approximately 6,000 sq m of commercial space, and a nursery school. In August 2017, Le Quest launched phase one sales, selling 280 units on the first day.

The phase two sales launched with 115 units for sale, with its one and two-bedroom units proving to be the most popular among the buyers. The average price per sq m of the sold units were an increase over phase one’s pricing.   

Chief Executive Officer of CNQC International Mr. Wang Congyuan said, "Singapore’s property market has so far demonstrated a continuous recovery in 2018. As a leading property developer and contractor in Singapore, the Group has been focused on cultivating a pipeline of exciting new property projects. The strong Le Quest phase two sales records reflect both buyers’ affinity for products featuring our proprietary HiLife system, as well as CNQC International’s competitiveness and market position as a mainstream developer in Singapore. As well look ahead, the Group is working to develop several qualified projects, implementing more smart home and smart community technologies into our products, and bring more quality inventory to Singapore’s private residential market as we optimise for sustainable profits to our partners and shareholders."