Enbloc sale of the 48-unit Finland Gardens in Siglap was called off after the majority sellers and the buyer, Sing Holdings, decided to pull the plug.
Sing Holdings bought the 98,309 sf FH estate for $504 psf in Nov 06, just before prices surged in early 2007. However, in Nov 07, the $49.5m deal was thrown out by STB for lacking 80% approval and that the price was not obtained in good faith. With market uncertainties looming, Sing Holdings decided not to drag on.
* AsiaOne-Enbloc *
Tuesday, April 22, 2008
Another En-bloc Sale Off
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