Home programmer City Developments’ unit and joint venture associate Hong Realty has bought Amber Park Condominium Singapore, condominium for S$906.7 million, making it Singapore’s biggest freehold collective sale with dollar worth until date.
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The Amber Park deal marks the effective economy this season – including industrial and mixed-used improvements – amid a property marketplace that is restored.
This is the en bloc effort by City Developments. Its final economy tender in June 2015 had closed with no bids. The price takes the trade value of bloc deals over S$5 in comparison to only S$1 billion final year. Located within a recognized residential enclave in District 15, the website is within walking distance and is a brief drive from the central business district and Changi Airport.
City Developments, which developed the existing 200-unit Amber Park, combined with Hong Realty strategy to redevelop the website into a luxury condominium development comprising four blocks. “We’re intimately knowledgeable about the place and the surroundings there provides a wonderful quality of life. This is one of the most important investment prices in the Singapore housing market In the last few decades,” Sherman Kwek, City Developments’ CEO-Designate stated in a statement.