Thiam Siew Ave freehold sites sold for S$815m to JV between Hoi Hup Realty, Sunway Developments
Analyst estimates future developments on these 2 land parcels could be launched at between S$2,400 and S$2,630 psf
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Singapore
TWO freehold development land parcels at Thiam Siew Avenue, a residential street of landed homes adjacent to Tanjong Katong Road, have been sold for S$815 million to a joint venture between Hoi Hup Realty and Sunway Developments.
The deal is the largest residential land sale since the July 2018 round of property cooling measures, when the government raised Additional Buyer's Stamp Duty (ABSD) rates and tightened Loan-to-Value limits.
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