Sales of Tiong Seng's 2 core central region projects hit hard by cooling measures

Singapore

THE recent property cooling measures have affected the sales of construction group Tiong Seng's 2 projects located in Balmoral and Orchard, due to the higher additional buyer's stamp duty rates for foreign buyers.

Even so, the mainboard-listed company is optimistic that the resumption of international travel, and location of the 2 properties - Sloane Residences and Cairnhill 16 - which are close to good schools and amenities may encourage more sales.