Hillcrest Arcadia’s S$920 million en bloc tender closes with no bids

[SINGAPORE] The collective sale of Bukit Timah condominium Hillcrest Arcadia has moved into private treaty talks, after a tender closed on Thursday (May 22) with no bids.

However, it received expressions of interest from several parties at prices below the S$920 million asking price, Terence Lian, Huttons Asia’s head of investment sales, told The Business Times.

“We are now in the 10-week private treaty period, during which negotiations can take place with interested developers to potentially secure a deal,” he added.