{"id":73203,"date":"2017-11-29T10:51:34","date_gmt":"2017-11-29T03:51:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-sun-park-sold-for-81-09mil\/"},"modified":"2017-11-29T11:04:16","modified_gmt":"2017-11-29T04:04:16","slug":"how-sun-park-sold-for-81-09mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-sun-park-sold-for-81-09mil\/","title":{"rendered":"How Sun Park sold for $81.09mil"},"content":{"rendered":"


\nHow Sun Park, a freehold three-storey development comprising 20 units, has been sold for $81.09 million to a SingHaiyi Group subsidiary, SingHaiyi Huajiang Amber Pte. Ltd.
\nThe property has a site area of around 5,104.3 sq m and a gross plot ratio of 1.4.
\nInclusive of an estimated development charge of $2.92 million, the price works out to $1,092 psf per plot ratio. With this, owners will receive around $4.05 million for each unit, which is more than double the amount they would have received had they individually sold their units in the market, reported Business Times.
\nIn an SGX filing, SingHaiyi revealed that SingHaiyi Huajiang Amber is a 50:50 joint venture between Corporate Bridge, a fully-owned unit of the company, and Huajiang Properties II, which is an entity controlled by Gordon Tang and Celine Tang. The two are the controlling shareholders and directors of the company.
\nIt noted that the acquisition will be funded by bank borrowings and internal resources.
\nSingHaiyi does not expect the acquisition to materially affect its consolidated net tangible assets per share and consolidated earnings per share for the financial year ending 31 March 2018.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…How Sun Park sold for .09mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

How Sun Park, a freehold three-storey development comprising 20 units, has been sold for $81.09...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-73203","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-j2H","jetpack-related-posts":[{"id":76392,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-condo-sold-en-bloc-for-840-89m\/","url_meta":{"origin":73203,"position":0},"title":"Park West condo sold en bloc for $840.89m","date":"January 12, 2018","format":false,"excerpt":"\r Third time\u2019s a charm. The owners of Park West have finally succeeded in selling the condominium via collective sale after two previous attempts which ended in failure. According to an SGX filing on Thursday (11 January), the residents accepted an $840.89 million offer from SingHaiyi Gold Pte Ltd, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-reports-robust-financial-results\/","url_meta":{"origin":73203,"position":1},"title":"SingHaiyi reports robust financial results","date":"February 4, 2019","format":false,"excerpt":"\r The Group acquired the Sun Rosier condominium off Bartley Road for $271 million in 2017. (Photo: Google Maps) The value of SingHaiyi Group\u2019s development properties nearly doubled from $268.5 million as of 31 March to $525.8 million as at 31 December last year, according to the developer\u2019s latest financial\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107401,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-net-profit-rose-47-6-in-q4\/","url_meta":{"origin":73203,"position":2},"title":"SingHaiyi net profit rose 47.6% in Q4","date":"May 23, 2019","format":false,"excerpt":"\r The real estate group\u2019s board has proposed a final dividend of 0.15 Singapore cent per share, subject to shareholders\u2019 approval at an upcoming annual general meeting.\u00a0 SingHaiyi saw its net profit jump 47.6 percent to $9.7 million for the three months ended 31 March 2019 (Q4 FY2019). Revenue, however,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106131,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-gazania-and-the-lilium-to-preview-on-thursday\/","url_meta":{"origin":73203,"position":3},"title":"The Gazania And The Lilium To Preview On Thursday","date":"April 16, 2019","format":false,"excerpt":"\r Artist\u2019s impression of The Gazania. SingHaiyi Group is set to open the showflats for its twin freehold residential developments \u2013\u00a0The Gazania and The Lilium \u2013 for preview on Thursday (18 April). Located close to each other, The Gazania on How Sun Drive comprises seven five-storey blocks with 250 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55807,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-posts-strong-fy2017-net-attributable-profit-despite-lower-revenue\/","url_meta":{"origin":73203,"position":4},"title":"SingHaiyi posts strong FY2017 net attributable profit despite lower revenue","date":"May 24, 2017","format":false,"excerpt":"\r Sales of completed units from its commercial condominium project in US, Vietnam Town (pictured), contributed to SingHaiyi\u2019s revenue in FY2017. (Image: SingHaiyi Group) Despite an 83.6 percent drop in revenue, SingHaiyi Group saw its net attributable profit for the financial year ended 31 March 2017 increase by 6.1 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110415,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/324-parc-clematis-units-sold-on-launch-day\/","url_meta":{"origin":73203,"position":5},"title":"324 Parc Clematis units sold on launch day","date":"September 2, 2019","format":false,"excerpt":"\r The developer revealed that 48 percent of the units sold were one-bedroom and various dual-key bedroom units. Parc Clematis, SingHaiyi Group\u2019s largest project to-date, sold 324 or 70 percent of the 465 units released for sale at an average price of about $1,580 per sq ft (psf) by the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73203"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=73203"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73203\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=73203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=73203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=73203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}