Shun Tak withdraws from $556.7m High Point deal

Hong Kong-listed Shun Tak Holdings has reportedly withdrawn from the collective sale deal for High Point condominium, less than a month after it announced the acquisition. The Business Times reported yesterday that Shun Tak is understood to have forfeited its $1 million tender deposit. The cancelled deal could possibly be the first casualty of the[…]

Collective sale hopeful Lakepoint Condo in private talks

Offers for collective sale hopeful Lakepoint Condominium fell short of its reserve price as developers start to move more cautiously in the light of new cooling measures. The tender has closed and a private treaty negotiation process is in progress, PropNex Realty said in a statement on Wednesday. The 99-year leasehold development was launched for[…]

Sultan Plaza, City Plaza join ranks of en bloc hopefuls

SINGAPORE (THE BUSINESS TIMES) – As more ageing properties in Singapore are trying again to go en bloc, the Sultan Plaza commercial building and the City Plaza mall may be next in line. If their collective sale tenders are launched, the reserve prices could be slashed to $360 million for Sultan Plaza in the Beach[…]

Elizabeth Towers up for collective sale with $630m reserve price

SINGAPORE (THE BUSINESS TIMES) – Elizabeth Towers at Mount Elizabeth in Orchard Road has been put up for collective sale, with a reserve price of S$630 million. The freehold residential site occupies a rare corner plot with a site area of 54,317.9 sq ft, according to sole marketing agent Edmund Tie & Company’s press statement on Nov 22.[…]

URA rejects proposed redevelopment of International Plaza under CBD Incentive Scheme

SINGAPORE – International Plaza’s proposal for a 62-storey mixed-use project, including a 368-room hotel, in Tanjong Pagar has hit a roadblock after the authorities rejected an outline application for its proposed redevelopment under the Central Business District (CBD) Incentive Scheme. This came after the Urban Redevelopment Authority (URA) found that the 50-storey property “currently has[…]