No go for two big collective sale attempts: Horizon Towers and Faber Garden close without sale

Tenders for Horizon Towers and Faber Garden, with asking prices of over $1b, close without sale

The 236-unit Faber Garden condo, whose $1.18 billion collective sale tender closed without a sale in late May, sits on a 544,738 sq ft site off Upper Thomson Road. ST understands that Faber Garden's collective sale committee is evaluating its options
The 236-unit Faber Garden condo, whose $1.18 billion collective sale tender closed without a sale in late May, sits on a 544,738 sq ft site off Upper Thomson Road. ST understands that Faber Garden's collective sale committee is evaluating its options and may launch a new tender in due course. ST PHOTO: SYAZA NISRINA
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Two high-profile collective sale attempts, with asking prices of more than $1 billion, have closed without a sale.

Horizon Towers, a 99-year leasehold condominium at Leonie Hill, launched for sale at a reserve price of $1.1 billion just before the July 6 cooling measures were announced. The tender closed yesterday without a sale.

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A version of this article appeared in the print edition of The Straits Times on September 13, 2018, with the headline No go for two big collective sale attempts: Horizon Towers and Faber Garden close without sale. Subscribe