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
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

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