{"id":94621,"date":"2018-07-25T10:36:19","date_gmt":"2018-07-25T03:36:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-extends-tender-closing-date-following-new-curbs\/"},"modified":"2018-07-25T11:03:02","modified_gmt":"2018-07-25T04:03:02","slug":"horizon-towers-extends-tender-closing-date-following-new-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-extends-tender-closing-date-following-new-curbs\/","title":{"rendered":"Horizon Towers extends tender closing date following new curbs"},"content":{"rendered":"


\nHorizon Towers is located near Orchard Road and is also close to the upcoming Great World MRT station. (Photo: JLL)
\nHorizon Towers has extended its en bloc sale tender closing date from 7 August to 12 September, revealed marketing agent JLL.
\nThis comes after the government introduced a fresh round of property cooling measures which took effect a day after the 211-unit development was launched for sale on 5 July.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nUnder the new measures, the government increased the Additional Buyer\u2019s Stamp Duty (ABSD) rates and reduced the mortgage loan-to-value limits across the board, while imposing a non-remissible ABSD of 5.0 percent for residential land purchases.
\nWith this, the collective sale committee, in consultation with their marketing agent and lawyers, decided to extend the tender closing date.
\n\u201cThe decision was made following feedback from developers that they remain interested in the prime site but would now require more time to observe and re-assess the market going forward, re-evaluate the project in the lights of these new measures and monitor the sales of new projects,\u201d said JLL.
\nHorizon Towers is located near Ngee Ann City along Orchard Road and is just 150m to the upcoming Great World MRT station.
\n\u201cNotwithstanding the new market cooling measures, at the reserve of $1.1 billion, which translates to a land rate of $1,786 psf ppr at GPR 3.6105 after factoring in the 10 percent bonus gross floor area plus a lease top-up premium estimated to be in the region of $220 million, Horizon Towers remains an attractive value proposition,\u201d added JLL.
\nHome 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…Horizon Towers extends tender closing date following new curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Horizon Towers is located near Orchard Road and is also close to the upcoming Great...<\/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-94621","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-oC9","jetpack-related-posts":[{"id":97778,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tender-for-horizon-towers-closes-without-a-single-bid\/","url_meta":{"origin":94621,"position":0},"title":"Tender for Horizon Towers closes without a single bid","date":"September 13, 2018","format":false,"excerpt":"\r Horizon Towers is located near Orchard Road and is also close to the upcoming Great World MRT station. (Photo: JLL) Despite its prime location, Horizon Towers\u2019 $1.1 billion tender ended on Wednesday (12 Sept) with no takers, reported the Business Times. This gives the owners of the 211-unit development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102652,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-relaunched-for-collective-sale\/","url_meta":{"origin":94621,"position":1},"title":"Horizon Towers relaunched for collective sale","date":"January 3, 2019","format":false,"excerpt":"\r The owners of the residential development are expecting gross sales proceeds of $1.1 billion. (Photo: JLL) Horizon Towers, a 99-year leasehold residential development at Leonie Hill, has been relaunched for collective sale at the same reserve price of $1.1 billion. The 211-unit condo was first launched for sale on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-en-bloc-transactions-expected-for-the-rest-of-2018\/","url_meta":{"origin":94621,"position":2},"title":"Fewer en bloc transactions expected for the rest of 2018","date":"September 14, 2018","format":false,"excerpt":"\r There was about $10.5 billion worth of en bloc deals in the first half of 2018. With the en bloc fever driving real estate activity in the first half of the year, the government\u2019s surprise property cooling measures in July dealt a huge blow on the bullish collective sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":94621,"position":3},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93607,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-plans-push-through-while-others-put-on-hold-amid-new-curbs\/","url_meta":{"origin":94621,"position":4},"title":"En bloc plans push through while others put on hold amid new curbs","date":"July 11, 2018","format":false,"excerpt":"\r Homeowners of Dalvey Court have been advised to extend the tender closing date in light of new cooling measures by the government Homeowners eyeing to go on en bloc have put their plans on hold or went back to the drawing board to devise new strategies amid the uncertainties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102854,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forget-about-billion-dollar-en-bloc-sales-say-experts\/","url_meta":{"origin":94621,"position":5},"title":"Forget about billion-dollar en bloc sales, say experts","date":"January 10, 2019","format":false,"excerpt":"\r Experts feel that developers are no longer land hungry and are more concerned about selling existing projects. Real estate experts believe that en bloc residential sites in Singapore costing at least $1 billion are unlikely to find a willing buyer amidst the new market situation, reported Bloomberg. \u201cBillion-dollar en\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\/94621"}],"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=94621"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94621\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}