12 Apr '11, 3pm

Some en bloc properties unsold as developers turn picky

Some en bloc properties unsold as developers turn picky

SINGAPORE : Despite the en bloc fever, some prime properties that have been put up for collective sale are not as hot. Analysts said the recent property cooling measures have made developers more picky about their land acquisitions. Developers are also looking forward to government land supply, which will see 30 plots for residential use being released in the first half of this year. About nine en bloc properties with a total value of S$750 million were sold in the last three months. This is much more than the two en bloc sales of a total value of S$130 million sold in the same period last year. But some en bloc properties have been left on the shelf. These sites include the S$700 million Hawaii Tower at Meyer Road, as well as the S$92 million Grand Tower, located some metres away from Novena MRT Station. The S$70 million Holland Tower, which is a short drive from Orchard ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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