Royalville in Bukit Timah priced at S$368m in collective sale

Singapore

ROYALVILLE, a prime freehold residential site in Bukit Timah Road, has been launched for a collective sale by owners asking for S$368 million.

This reflects a land rate of S$1,509 per square foot per plot ratio (psf ppr), with no development charge payable, said its marketing agent Edmund Tie & Company (SEA).

Including the 10 per cent bonus balcony gross floor area that could incur an estimated development charge of S$1.16 million, the land rate may be lower at S$1,376 psf ppr.

The tender, which will close on Nov 10, joins a spate of sites that have been launched for collective sale this year. Already, 16 collective sales year-to-date have clocked over S$5.84 billion in gross proceeds.

Another project that will be launched in about two weeks' time in the Bukit Timah area is Mayfair Gardens, which has crossed the 80 per cent backing from owners for a collective sale.…