11 Apr '18, 1am

Pacific Mansion in River Valley second highest en-bloc deal sealed

With a $980 million price tag, Pacific Mansion has sold to the tune of being the second-highest en bloc deal. Pacific Mansion Freehold River Valley site bought by Singapore property tycoon Together with his Malaysian billionaire cousin Quek Leng Chan, Singapore property tycoon Kwek Leng Beng purchased the site in district 9 . This is a prime piece of freehold land which attracted the interest of both local and foreign developers. Mr Quek’s GuocoLand successfully tendered for site together with Intrepid Investments and Hong Realty. Mr Kwek’s Hong Leong Investment Holdings (HLIH) owns the majority stakes of the latter 2 entities while the rest of the family members also have stakes in the businesses. The highest bid in history for an en bloc sale was $1.34 billion for Farrer Court in 2007. Now Pacific Mansion follows closely on its heels with $980 million. The other successf...

Full article: https://www.iproperty.com.sg/news/pacific-mansion-in-rive...

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