Tulip Garden En-bloc Sale Off?

Tulip Garden, a FH condo near Holland Rd, was bought by Bravo Building Construction for $516m last Jul. The sale was approved by STB in Feb, and the completion was due in 28 May.

However, Bravo could not pay up another 5% ($25.8m) by 7 Apr, and had requested for another deadline extension. Condo owners thus planned to call off the deal and pocket the 5% deposit ($25.8m) paid by Bravo.

Not only Tulip Garden, Bravo had also aborted an enbloc sale of Makeway View at Newton area earlier this year, and forfeited its $1.63m deposit. Completion for another enbloc sale, Pender Court, was also postponed.

* CNA-TulipGdn , ST-TulipGdn *