La Ville sold for S$152 million in third bid at collective sale

THIRD time is the charm for freehold development La Ville which was sold via collective sale on its third attempt to Hong Kong-listed ZACD Group for S$152 million - above its reserve price.

The high-rise development, which is situated along Tanjong Rhu in District 15, was put up for sale in October this year for S$148 million, but finally went for higher following strong competition among bidders, The Business Times understands.

A previous attempt took place in May 2018 when a tender was launched at an asking price of S$152 million, but talks with interested parties during the private treaty period were shelved after the July 2018 cooling measures were rolled out.