Mandarin Gardens seeks record $2.927b

Asking price raised a month before expiry of sales agreement, in bid to get 80% mandate

Mandarin Gardens in Siglap Road first raised its asking price from $2.479 billion to $2.788 billion in November last year after owners discovered that the land parcel was undervalued. If the deal goes through with the new asking price of $2.927 billi
Mandarin Gardens in Siglap Road first raised its asking price from $2.479 billion to $2.788 billion in November last year after owners discovered that the land parcel was undervalued. If the deal goes through with the new asking price of $2.927 billion, it would be the biggest transaction in dollar terms struck here.ST FILE PHOTO

Mega site Mandarin Gardens has raised its asking price to a new record of $2.927 billion, just one month before its collective sales agreement (CSA) is set to expire, in a bid to get the 80 per cent mandate to launch a tender.

If the collective sale goes through, it would be the biggest transaction in dollar terms struck here.

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A version of this article appeared in the print edition of The Straits Times on March 13, 2019, with the headline 'Mandarin Gardens seeks record $2.927b'. Subscribe