Park West condo sold en bloc for $840.89m

Park West owners have at last found success in selling the condominium through collective sale after two previous trials which did not succeed. Developer SingHaiyi Group has obtained the residential site in Clementi for the price value of $840.9 million amid the presently going en bloc sale fever.

The site is being acquired by “SingHaiyi Gold”, a joint venture between Haiyi Wealth, an entity run by Gordon Tang & Celine Tang and SingHaiyi’s completely owned subsidiary SingHaiyi Land, SingHaiyi informed in a statement on Thursday (Jan 11).

Placed in 2–20 Jalan Lempeng nearby Clementi MRT station, this property covers the land area of 633,644 sq ft and the plot ratio being 2.1. It comprises 4 shops and 432 residential units. At $840.9 million in addition with an estimated $290.6 million in “differential premium and lease upgrading premium”, the price tag ends in a land cost of $850 per sq ft per plot ratio.

11 January, 2018

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