Mandarin Gardens raises en bloc reserve price to record $2.927 billion

The 1,017-unit leasehold condo first raised its asking price to $2.788 billion in November 2018 from $2.479 billion after owners discovered that the land parcel was undervalued. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - Total madness continues as mega site Mandarin Gardens raised its asking price to a new record of $2.927 billion, just one month before its collective sales agreement 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 en-bloc 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

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.