Riviera Point up for en bloc sale - for 5th time

RIVIERA Point, a 33-unit freehold residental development at the junction of Kim Yam Road and River Valley Road, was yesterday re-launched for collective sale by public tender - for the fifth time.

For the second time, Jones Lang LaSalle (JLL) is the sole marketing agent. Nicholas Ng, the local director of investments at JLL, said this sale follows JLL's first sale attempt last October, when the changes in the Total Debt Servicing Ratio had given prospective buyers pause.

This time around, Riviera Point's owners are seeking offers in excess of $68 million - no different from what they sought in the previous tender launch. This translates to about $1,379 psf per plot ratio on the gross floor area (GFA).