According to Cushman & Wakefield, the sale price of $345 million translates into a land rate of $1,280 psf after taking into account $60 million to be paid to upgrade its land lease to 99 years. This compares with $1,515 psf for Amber Park and $1,427 psf for Nanak Mansions.
SINGAPORE (Mar 20): Maybank Kim Eng is relieved Bukit Sembawang has finally put what it sees as an "overcapitalised" balance sheet to work and acquired its first condominium site in a decade with Katong Park Towers.
The redevelopment site is located in the East Coast and is within 200m of the future Katong Park MRT Station due to be completed in 2023.
