{"id":82759,"date":"2018-03-15T11:41:20","date_gmt":"2018-03-15T04:41:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-eyeing-2-5-billion-collective-sale\/"},"modified":"2018-03-15T12:04:23","modified_gmt":"2018-03-15T05:04:23","slug":"mandarin-gardens-eyeing-2-5-billion-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-eyeing-2-5-billion-collective-sale\/","title":{"rendered":"Mandarin Gardens eyeing $2.5 billion collective sale"},"content":{"rendered":"


\nThe owners of Mandarin Gardens would stand to earn $1.58 million to $5.07 million based on the reserve price.
\nMandarin 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 in a new en bloc attempt, reported Channel NewsAsia.
\n\u201cThis would represent probably the highest land price ever in Singapore in terms of absolute quantum,\u201d said International Property Advisor chief executive Ku Swee Yong.
\nMore: Mega developments take collective sale fever to new level
\n\u201c$2.5 billion sounds large, but that\u2019s partly also because this piece of land is one million square feet. Multiplied by the plot ratio, you could in fact build about three million square feet of residences.\u201d
\nWith C and H Realty as the appointed marketing agent, the collective sale agreement states that owners of the East Coast development stand to earn $1.58 million to $5.07 million based on the reserve price.
\nLocated at Siglap Road, the 1,006-unit condominium enjoys a sea-facing view of East Coast Park and is near various schools such as Tao Nan School and Victoria Junior College.
\nAnalysts believe the owners could face an uphill task as the $2.5 billion reserve price sits in uncharted territory.
\nThis comes as developers must still consider the Additional Buyers\u2019 Stamp Duty, development charge and upgrading premium as factors that could pile on the costs, which could balloon to a whopping $3 billion or $4 billion.
\nCurrently, the former Farrer Court, which has been redeveloped into d\u2019Leedon, holds the record for the largest collective sale by dollar value, fetching around $1.3 billion in 2007.
\n\u00a0
\nRomesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Mandarin Gardens eyeing .5 billion collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of Mandarin Gardens would stand to earn $1.58 million to $5.07 million based...<\/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-82759","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-lwP","jetpack-related-posts":[{"id":84129,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-march-2018\/","url_meta":{"origin":82759,"position":0},"title":"News Roundup (March 2018)","date":"March 29, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Geylang HDB flat with city views sold for $910,000 A 5-room HDB resale flat on a high floor in Geylang with sweeping views of the Singapore Sports Hub and city skyline was sold in January for a sky-high price of $910,000. The sale price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/03\/The-Berth-resized.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":83739,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-set-2-48b-price-tag-for-mandarin-gardens\/","url_meta":{"origin":82759,"position":1},"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":105399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-en-bloc-attempt-fails-to-take-off\/","url_meta":{"origin":82759,"position":2},"title":"Mandarin Gardens en bloc attempt fails to take off","date":"March 26, 2019","format":false,"excerpt":"\r The asking price for the development was raised after the owners discovered that the land parcel was undervalued. The en bloc sale attempt of Mandarin Gardens failed to take off even as the asking price was raised to a record high of $2.927 billion, reported the New Paper. This\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":82759,"position":3},"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":82759,"position":4},"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":[]},{"id":101169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-eyes-new-en-bloc-record-with-2-79b-price-tag\/","url_meta":{"origin":82759,"position":5},"title":"Mandarin Gardens eyes new en bloc record with $2.79b price tag","date":"November 12, 2018","format":false,"excerpt":"\r The owners increased the asking price from the previous $2.48 billion after the development was found to be undervalued by more than $300 million.\u00a0 Mandarin Gardens condominium is set to break a new record as its owners have increased the asking price for the 1,006-unit development at East Coast\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\/82759"}],"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=82759"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/82759\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=82759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=82759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=82759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}