Two more properties sold en bloc; deals total S$676.5m

Singapore

ANOTHER two collective sales have taken place in quick succession within a month of the first sale this year, showing firmer signs of a pick- up in the en bloc market.

Rio Casa, a former HUDC estate in Hougang, has been sold for S$575 million by a consortium comprising Oxley Holdings, KSH Holdings, Lian Beng Group and the private investment firm of Super Group's Teo family.

Separately, a unit of BBR Holdings (S) is acquiring mixed-use development Goh & Goh Building for S$101.5 million.

These came on the heels of the first residential collective sale of One Tree Hill Gardens near Orchard Road to Lum Chang Holdings for S$65 million this month.

"These deals show that collective sales have picked up, but the background work started last year for those sites," said Knight Frank he…