Shunfu Ville sold for S$638m to Qingjian
This is lower than the reserve price of at least S$688m during a relaunch in January after a failed attempt in Sept
Singapore
SHUNFU Ville was sold to developer Qingjian Realty for S$638 million on Thursday, marking the largest collective sale since 2007.
This translates to a total land cost of S$747 per square foot per plot ratio on potential gross floor area, after factoring in differential premium payable to the state to top up the lease to a fresh 99-year lease and for intensification of the site, according to JLL, the sole marketing agent for the collective sale.
Owners holding 80 per cent of the development's share value and strata area had signed the collective sale agreement. The sale price is lower than the reserve price of at least S$688 million during a relaunch in Ja…
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