A downbeat property market has led to the sale of a high-end condominium project at a lower price.
Developer Hiap Hoe is selling its entire luxury condominium in Balmoral area near Orchard Road to its controlling shareholder Hiap Hoe Holdings.
The latter, which owns 69.85 per cent of mainboard-listed Hiap Hoe, is buying all 48 units of Treasure on Balmoral for $185 million or about $1,789 per square foot for the 103,439 sq ft strata area development.
Hiap Hoe said in a statement that its attempts to sell the units have been made even more challenging by the several rounds of cooling measures introduced by the Singapore government which have dampened the local property market.
– See more at: http://www.straitstimes.com/news/business/companies/story/hiap-hoe-sells-treasure-balmoral-controlling-shareholder-185m-20141208#sthash.y7UpygYi.dpuf
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SPRING Grove, a residential redevelopment site along Grange Road, has been put up for tender by Knight Frank Singapore.
SPRING Grove, a residential redevelopment site along Grange Road, has been put up for tender by Knight Frank Singapore.
The site has an extensive land area of 24,481.2 sq m.
It currently comprises 3 blocks of 20-storey apartments with 325 residential units and the conserved Spring Grove House.
Under the Master Plan 2014, the site is designated as “Residential” with a Gross Plot Ratio (GPR) of 2.1.
http://www.businesstimes.com.sg/breaking-news/singapore/spring-grove-along-grange-rd-put-enbloc-sale-20140716
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