Katong Park Towers Sold To Bukit Sembawang For $345 Million
Subsidiary of Bukit Sembawang Estates has bought Katong Park Towers in District 15 for the value of $345 million which is about 20 percent more than the reserve price of $288 million, revealed Cushman & Wakefield who did the brokerage the deal.
Primarily located at 114A Arthur Road, this site is nearby the forthcoming Katong Park MRT station in the Thomson-East Coast Line and East Coast Park.
As per Singapore’s 2014 Master Plan, the site is specifically zoned as “residential” and the plot ratio being 2.1 with the maximal building height of 24 storeys. The site is not being affected by any traffic impact.