Entire floor at Suntec City Tower 2 sold for S$38.8m

Published Mon, Jun 13, 2022 · 11:36 AM

AN entire floor at Suntec City Tower 2 has been sold for S$38.8 million or a record-breaking S$3,300 per square foot (psf), marketing agent Huttons announced on Monday (Jun 13).

The transaction marks the highest psf price ever achieved for an entire floor in Suntec City Tower 2, and the largest transaction by quantum price in 2022 so far.

According to broker Aric Lim, associate senior division director of Huttons Group, the 11,743.5 square foot unit was sold to a Singapore permanent resident of Chinese descent who “likes the well thought renovation for his immediate needs and the unblocked bay view”.

“Singapore has seen many ultra-high-net-worth individuals from Greater China in recent years seeking to establish a local presence in Singapore spanning across all segments of the property market,” Lim noted.

Lee Sze Teck, senior director of research at Huttons Group, added: “Singapore has seen an influx of funds and investors seeking to ride on the economic recovery story. Furthermore, Grade A strata-titled office space is rarely available in the Central Business District.”

Suntec City is a mixed-use development, comprising a shopping mall, 5 office towers and a convention centre.