No go for two big collective sale attempts: Horizon Towers and Faber Garden 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

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

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.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
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'. Print Edition | Subscribe