{"id":84824,"date":"2018-04-09T10:21:22","date_gmt":"2018-04-09T03:21:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-omega-apartments-sold-collectively-for-46-3m\/"},"modified":"2018-04-09T11:02:56","modified_gmt":"2018-04-09T04:02:56","slug":"katong-omega-apartments-sold-collectively-for-46-3m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-omega-apartments-sold-collectively-for-46-3m\/","title":{"rendered":"Katong Omega Apartments sold collectively for $46.3m"},"content":{"rendered":"


\nThe 18-unit freehold development along East Coast Road was sold to GDL Land. (Photo: Teakhwa Real Estate)
\nKatong Omega Apartments, an 18-unit freehold residential project at 357 East Coast Road, has been sold to Global Dragon\u2019s wholly-owned subsidiary GDL Land via an en bloc sale.
\nIn an SGX filing on Friday (6 Apr), the company formerly known as TMC Education Corporation said their offer of $46.31 million was accepted by the owners of the property.
\nMore: The Estoril Sold In Fourth Attempt At Collective Sale
\nThe firm intends to pay a development charge of around $2.7 million to redevelop the property to a gross floor area of 3,991 sq ft, inclusive of a 10 percent bonus balcony space, subject to authorities\u2019 approval.
\nUnder the 2014 Master Plan, the 27,900 sq ft site has a plot ratio of 1.4 and a maximum height of five storeys.
\nThe proposed acquisition will be funded by internal resources and debt financing. It is not expected to have any material impact on Global Dragon\u2019s net tangible assets and earnings per share for the financial year ending 30 June.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior 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…Katong Omega Apartments sold collectively for .3m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 18-unit freehold development along East Coast Road was sold to GDL Land. (Photo: Teakhwa...<\/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-84824","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-m48","jetpack-related-posts":[{"id":84828,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/united-mansion-up-for-en-bloc-sale-with-reserve-price-of-98m\/","url_meta":{"origin":84824,"position":0},"title":"United Mansion up for en bloc sale with reserve price of $98m","date":"April 9, 2018","format":false,"excerpt":"\r Completed in 1968, United Mansion in Siglap is located close to Parkway Parade, I12 Katong and various schools. (Photo: Cushman & Wakefield) The freehold United Mansion development at 592 to 614 East Coast Road has been launched for collective sale at a reserve price of $98 million, marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-property-up-for-sale\/","url_meta":{"origin":84824,"position":1},"title":"Katong property up for sale","date":"August 16, 2017","format":false,"excerpt":"\r Aerial view of the freehold site at Amber Road, which has been put up for sale at a guide price of between $56.6 million and $61 million. (Photo: JLL) A freehold site in Katong comprising four vacant old houses has been put up for sale by expressions of interest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-bungalow-plot-off-meyer-road-up-for-sale\/","url_meta":{"origin":84824,"position":2},"title":"Freehold bungalow plot off Meyer Road up for sale","date":"June 7, 2018","format":false,"excerpt":"\r The 16,160 sq ft site near the upcoming Katong Park MRT station has an asking price of between $22 million and $24 million. (Photo: JLL) A prime bungalow site off Meyer Road in District 15 has been put up for sale by expression of interest (EOI) with an asking\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-to-open-for-preview-this-weekend\/","url_meta":{"origin":84824,"position":3},"title":"Amber Park To Open For Preview This Weekend","date":"April 26, 2019","format":false,"excerpt":"\r Amber Park, a 529-unit residential development along Amber Road, will open for preview this Saturday (27 April). The freehold condo is being developed by City Developments Limited (CDL) along with joint venture partner Hong Realty (Private) Limited. Nestled on a 213,000 sq ft site, Amber Park comprises three 21-storey\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/","url_meta":{"origin":84824,"position":4},"title":"Amber Park and Jervois Gardens launched for sale","date":"August 29, 2017","format":false,"excerpt":"\r View of Amber Park, which is expected to be redeveloped into a high-rise project with sea views. (Photo: JLL) The collective sales market continues to roll on with two freehold residential developments \u2013 Amber Park and Jervois Gardens \u2013 launched for tender. Located along Amber Road in Katong, Amber\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/80-of-units-released-at-amber45-sold-at-average-of-2200-psf\/","url_meta":{"origin":84824,"position":5},"title":"80% of units released at Amber45 sold at average of $2,200 psf","date":"May 14, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the Amber 45 condominium at Amber Road. (Photo: UOL Group) UOL Group\u2019s Amber45 condominium at Amber Road was well-received by buyers, selling 80 percent or 80 of the 100 units released at an average price of about $2,200 psf at its launch last weekend (12-13 May).\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\/84824"}],"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=84824"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/84824\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=84824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=84824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=84824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}