The Business Times
business-time-50

No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price

This was the fifth collective sale attempt by the Ulu Pandan condominium development since 2008

google-preferred-sourceAdd BT as a preferred source
Ry-Anne Lim

Ry-Anne Lim

Published Mon, May 6, 2024 · 07:10 PM
阅读简体中文版 (beta)
    • Residents had tried earlier this year to set the reserve price at S$1.78 billion, but did not garner the required 80 per cent of votes for that price to stand.
    • Residents had tried earlier this year to set the reserve price at S$1.78 billion, but did not garner the required 80 per cent of votes for that price to stand. PHOTO: BT FILE

    THE latest collective sale attempt by owners of Pine Grove condominium closed on Monday (May 6) without any bids, sending its owners into a 10-week private treaty negotiation period with interested parties.  

    There are fewer than 10 interested parties involved, exclusive marketing agent ERA told The Business Times (BT).

    The massive site was put up for sale for the fifth time since 2008 by the agency in February for S$1.95 billion.

    Collective saleERA RealtySingapore residential propertyResidentialSpotlight

    TRENDING NOW

    Vincent Tan, founder of Berjaya Group, has reduced his holdings in multiple companies within the group.

    Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan

    Altitude Xperience argued that the rooftop space in contention was not considered an unused space.

    Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Singapore continues to be an important market for big luxury houses, such as Hermes and Chanel.

    As luxury retail goes big, can Singapore’s Orchard Road keep up? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More