High Point Condo EN BLOC, FIRST casualty of the new cooling measures?

According to news reports, Shun Tak is said to have pulled out of the en-bloc purchase and forfeited its $1 million deposit.

If this purchase had gone through, it would be the Hong Kong group’s fifth acquisition in downtown Singapore in 5 years. 

The land price for the site translated to $2,537 per square foot per plot ratio (psf ppr) including the development charge of $18 million. Savills said at the time that the sale price was the highest land price (psf ppr) transacted since July 2018.

Shun Tak, which was founded by casino tycoon Stanley Ho and is helmed by his daughter Pansy, is marketing 2 other luxury residential projects in District 10, the freehold 54-unit Park Nova on Tomlinson Road and the 14-unit, low-rise freehold Les Maisons Nassim in the Nassim enclave. 

This week, the tender for Lakepoint Condo fell short of its reserve price and similar to Chuan Park, both condominiums are engaged in a private treaty negotiation process.

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