{"id":77930,"date":"2018-01-25T11:07:19","date_gmt":"2018-01-25T04:07:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mega-developments-take-collective-sale-fever-to-new-level\/"},"modified":"2018-01-25T12:02:54","modified_gmt":"2018-01-25T05:02:54","slug":"mega-developments-take-collective-sale-fever-to-new-level","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mega-developments-take-collective-sale-fever-to-new-level\/","title":{"rendered":"Mega developments take collective sale fever to new level"},"content":{"rendered":"


\nAnalysts believe that the entry of mega developments or sites with more than one million sq ft, will take the latest en bloc fever to a new level, reported The Straits Times.
\nThe most recent to get on the bandwagon is the 1,006-unit Mandarin Gardens, the owners of which have agreed to form a collective sales committee over the weekend.
\nIt joins other large en bloc sites such as the 1.1 million sq ft Braddell View estate, which has voted to form its collective sale committee last year, and the 999-year leasehold Cashew Heights.
\nTo date, the biggest successful en bloc sale \u2013 in terms of price \u2013 is Farrer Court, which was sold to a consortium for $1.34 billion.
\nIf the collective sale of Mandarin Gardens goes through, Savills Singapore\u2019s research head Alan Cheong believe that it may fetch \u201cway past a billion\u201d, making it another major landmark in Singapore\u2019s en bloc sales history.
\nBuilt in 1986, the development comes with a minimart, a restaurant, a kindergarten and 10 shop lots.
\nCheong expects a developer who pays an all-in price \u2013 including land lease topping-up premium as well as other charges \u2013 to \u201cset a base price of $1,300 to $1,400 psf ppr\u201d.
\nHowever, the development\u2019s sheer size, at 1.07 million sq ft, makes it a \u201ctough sell\u201d, said ZACD Group executive director Nicholas Mak.
\nThe process may also get more complicated, even ugly at times, due to a large number of owners involved.
\n\u201cI have never seen a sale of anything so big\u2026 in the East Coast,\u201d he said. \u201cIt\u2019s so big that even the big boys may want to go in as a joint venture to basically share the risk.\u201d
\nMak noted that almost 3,000 housing units could be developed on Mandarin Gardens\u2019 existing area, and it may also be split into two new developments.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Mega developments take collective sale fever to new level<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts believe that the entry of mega developments or sites with more than one million...<\/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-77930","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-kgW","jetpack-related-posts":[{"id":93455,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fate-of-en-bloc-bids-now-uncertain-with-new-housing-curbs\/","url_meta":{"origin":77930,"position":0},"title":"Fate of en bloc bids now uncertain with new housing curbs","date":"July 9, 2018","format":false,"excerpt":"\r The government\u2019s surprise release of new property cooling measures has left many homeowners jittery, especially those planning to go en bloc. This comes as the fate of their collective sale bids has now become uncertain, given that developers are expected to take a cautious stance in bidding for new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97610,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pandan-valley-seeks-record-2-6b-en-bloc-asking-price\/","url_meta":{"origin":77930,"position":1},"title":"Pandan Valley seeks record $2.6b en bloc asking price","date":"September 11, 2018","format":false,"excerpt":"\r Each owner could receive nearly $4.2 million on average if the sale goes through. The Pandan Valley condominium has established a new record for Singapore\u2019s highest asking price in a collective sale, after its residents voted to set the reserve price at $2.6 billion during a meeting on Saturday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82759,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-eyeing-2-5-billion-collective-sale\/","url_meta":{"origin":77930,"position":2},"title":"Mandarin Gardens eyeing $2.5 billion collective sale","date":"March 15, 2018","format":false,"excerpt":"\r The owners of Mandarin Gardens would stand to earn $1.58 million to $5.07 million based on the reserve price. Mandarin Gardens condominium is now poised to raise the bar for collective sales attempts in Singapore as owners of the 99-year leasehold development have set a $2.48 billion price tag\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83739,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-set-2-48b-price-tag-for-mandarin-gardens\/","url_meta":{"origin":77930,"position":3},"title":"Owners set $2.48b price tag for Mandarin Gardens","date":"March 26, 2018","format":false,"excerpt":"\r The overall cost for Mandarin Gardens could shoot up to $4.09 billion, taking into account the development charge and lease top-up. Residents at Mandarin Gardens approved the $2.48 billion selling price on Sunday (26 March), but they are still currently gathering the signatures of at least 80 percent of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104953,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-raises-asking-price-to-whooping-2-9bil\/","url_meta":{"origin":77930,"position":4},"title":"Mandarin Gardens raises asking price to whooping $2.9bil","date":"March 13, 2019","format":false,"excerpt":"\r If the sale goes through, the owners would receive between $1.86 million and $5.98 million depending on their unit size. The Collective Sale Committee (CSC) of Mandarin Gardens has again raised the development\u2019s reserve price from $2.79 billion to a new record asking price of $2.927 billion, despite the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-raises-asking-price-to-whopping-2-9bil\/","url_meta":{"origin":77930,"position":5},"title":"Mandarin Gardens raises asking price to whopping $2.9bil","date":"March 13, 2019","format":false,"excerpt":"\r If the sale goes through, the owners would receive between $1.86 million and $5.98 million depending on their unit size. The Collective Sale Committee (CSC) of Mandarin Gardens has again raised the development\u2019s reserve price from $2.79 billion to a new record asking price of $2.927 billion, despite 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\/77930"}],"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=77930"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77930\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=77930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=77930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=77930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}