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Bloc of 16 units at 111 Emerald Hill sold for about S$75m via sale of shares

Sale of stake in condo developer values the prime freehold apartments in the low-S$1,700 psf range

Singapore

THE remaining 16 unsold units in 111 Emerald Hill, a 40-unit completed condo project, are understood to have changed hands. The transaction was effected through a sale of shares in the company that developed the 12-storey freehold project.

The deal is understood to value the 16 units at a total of S$75 million to S$76 million, which translates to the low S$1,700 psf range based on the strata of around 44,000 sq ft. The units sold comprise three and four-bedroom apartments.

Under the deal inked last month, the shares in Emerald Land Pte Ltd were sold by a fund managed by LaSalle Investment Management to entities fully owned by Singapore citizens. The project received Temporary Occupation...

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