More collective sale sites end up unsold after cooling measures

Horizon Towers (left) and Faber Garden are among the 50 collective saleprojects that closed their tenders without a buyer this year. Land acquisition costs have soared for developers since the cooling measures.
Horizon Towers (above) and Faber Garden are among the 50 collective saleprojects that closed their tenders without a buyer this year. Land acquisition costs have soared for developers since the cooling measures.PHOTOS: ST FILE, SYAZA NISRINA
Horizon Towers (left) and Faber Garden are among the 50 collective saleprojects that closed their tenders without a buyer this year. Land acquisition costs have soared for developers since the cooling measures.
Horizon Towers and Faber Garden (above) are among the 50 collective saleprojects that closed their tenders without a buyer this year. Land acquisition costs have soared for developers since the cooling measures.PHOTOS: ST FILE, SYAZA NISRINA

Developers may be reassessing strategy before next move

Even as mega sites Pandan Valley and Laguna Park bedazzled with their multibillion-dollar collective sale attempts last week, two other billion-dollar candidates, Horizon Towers and Faber Garden, closed their tenders without a buyer.

Horizon Towers and Faber Garden are among 50 collective saleprojects whose tenders closed without a sale this year up to last Wednesday, according to Colliers International's data.

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 Sunday Times on September 16, 2018, with the headline 'More collective sale sites end up unsold after cooling measures'. Print Edition | Subscribe