trending Market Intelligence /marketintelligence/en/news-insights/trending/3kQrOlVDp3ecY_BQYovWCw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Singapore's Dairy Farm condo estate ups collective sale price tag to S$1.84B

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Singapore's Dairy Farm condo estate ups collective sale price tag to S$1.84B

The en bloc reserve price for Singapore's Dairy Farm condominium estate has been increased to S$1.84 billion from an earlier approximately S$1.69 billion, according to The (Singapore) Business Times.

The S$152 million rise in price is meant to make the sale more attractive to homeowners at the 750,019-square-foot estate, to enable a mandate for a public en bloc tender to take place.

The collective sale project has received a 68% approval rate from home owners since signatures began being collected in April 2018, collective sale committee chairman Tay Tiong Choon was cited in the Jan. 4 report as saying. The committee has 12 months from the first signature on the collective sale agreement to clinch the 80% approval level required for the mandate, making April 2019 the deadline for Tay and his team.

However, with the increased reserve price comes a firmer development charge of approximately S$75 million from an earlier S$61 million, the publication added. The higher reserve price reflects a per-square-foot per-plot-ratio price of roughly S$1,216, up from an earlier approximately S$1,100.

Earlier, Pine Grove, another condominium site in Singapore that was gunning for an en bloc sale, saw its reserve price upped to S$1.86 billion from S$1.72 billion. The increase aided in edging that sale committee toward obtaining a sale mandate.

As of Jan. 3, US$1 was equivalent to S$1.36.