Elias Green’s collective sale closes with no bids

[SINGAPORE] The collective sale tender for Elias Green closed on Tuesday (Apr 22) with no bids, after the Pasir Ris condominium was put up for sale in March with a guide price of S$928 million. 

The collective sale is now moving into a 10-week private treaty period, and ERA is following up with several interested parties, said Tay Liam Hiap, the agency’s managing director of capital markets and investment sales.

Elias Green’s guide price reflects a land rate of S$1,355 per square foot per plot ratio (psf ppr). This factors in 10 per cent bonus gross floor area and an estimated land betterment charge of S$150.8 million for intensification and upgrading to a fresh 99-year lease.