29 May '17, 9am

#CollectiveSale market heats up with Rio Casa, Goh & Goh Building #deals

#CollectiveSale market heats up with Rio Casa, Goh & Goh Building #deals

Two deals with a combined value of $676.5 million were announced yesterday in yet another sign of the continued resurgence in the collective sale market. One involved the sale of Rio Casa, a privatised HUDC estate in Hougang, while mixed-use development Goh & Goh Building, near Beauty World MRT station, was also snapped up. These follow the sale of One Tree Hill Gardens for $65 million to Lum Chang Group this month. The number of deals has now matched the three done in all of last year: Shunfu Ville, Raintree Gardens and Harbour View Gardens. Brisk new-home sales and the recovering sentiment in the residential property market have fuelled demand for sites among developers. Rio Casa in Hougang Avenue 7 was sold for $575 million to the joint venture firm Oxley-Lian Beng Venture comprising KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital. "We received a ha...

Full article: https://www.srx.com.sg/singapore-property-news/37042/coll...

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