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Foreign buyer forking out S$430.1m for Citimac in en bloc sale

Price works out to S$1,047 psf ppr for the freehold property; buyer said to be linked to family from China

Singapore

CITIMAC, a freehold industrial complex near Tai Seng MRT Station, is being sold for S$430.1 million, or S$1,047 per square foot of potential gross floor area (GFA).

The unit land price is inclusive of an estimated S$82 million development charge.

The collective sale was awarded over the weekend, following a tender for the property that closed on June 21.

Edmund Tie & Co brokered the deal.

When contacted, Swee Shou Fern, senior director for investment advisory at the group, declined to identify...

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