Macau property magnate Loi Keong Kuong and family sell five Pagoda Street shophouses for S$50.7 million
This is 13.5% lower than the purchase price a decade ago, partly because of the shortened balance in land tenure; the vendor may also be rebalancing its strategy
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[SINGAPORE] Macau property magnate Loi Keong Kuong and his family have sold five shophouses in Pagoda Street in Chinatown at prices between 5 and 20 per cent lower than what they had paid for these units a decade ago.
The shophouses, Nos 58, 60, 62, 68 and 74, are on sites with about 69 years left on their leasehold tenures. All five properties have either three storeys or three storeys with a mezzanine level.
They fetched between S$9.2 million and S$10.88 million in separate transactions this year, against the Loi family’s purchase prices of S$10.8 million to S$12.38 million in 2015/2016.
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