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Sale of the District 10 freehold site for S$401.9 million to a unit-linked to Hong Kong tycoon Li Ka-Shing was completed on Aug 27, real estate firm Colliers International announced in a press statement on Wednesday.
Depending on the size of their unit, each residential owner stands to receive S$2.78 million to S$11.5 million from the successful sale. The sale price - which is more than 13 per cent above the owners' reserve price - works out to a land rate of about S$1,847 per square foot per plot ratio (psf ppr), after factoring in a development charge of S$3.5 million.
What happened in the Real estate of Singapore?
- Tiong Seng wins S$130.5m contract to develop Club Street hotel
- Bukit Sembawang Estates' Luxus Hills to open for preview on Aug 30
- Singapore was top destination for Hong Kong real estate investors in H1: report
- $9 million GCB and $8 million shophouse to go under the hammer
- Hmlet’s largest co-living facility launches at 150 Cantonment Road
Property News outside of Singapore
Previous news selection:
GuocoLand Q4 net profit up 24% at S$183.7m
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