Its close proximity to Bartley MRT station and the popular Bidadari estate, as well as the fact that it is one of the few freehold properties in the market are the reasons why Sun Rosier condominium managed to fetch 15% above the initial asking price of $235 million.
In a tender that closed on 21 September (Thursday), the property at How Sun Drive was sold for $271 million; that works out to about $1,325 psf per plot ratio. Each owner will receive $2.86 million to $4.77 million each.
The winning bid went to a joint venture between SingHaiyi Properties and Huajiang International. SingHaiyi Properties is a unit of Singapore-listed property developer SingHaiyi Group and at the helm at Huajiang International is Chinese tycoon Gordon Tang and his wife Serena. They are also the controlling shareholders of SingHaiyi Group.
Read more here
Alternatively, find out more on another development that is looking to sell collectively for at least $1 billion: