SINGAPORE (Apr 13): The collective sale for Tulip Garden received the top bid from Asia Radiant – a joint venture (JV) between Yanlord and Hongkong Land Holdings’ MCL Land – of $907 million, representing about 20% premium to the owners’ asking price of $753 million.

See: Yanlord-Hongkong Land JV wins Tulip Garden en bloc sale with $907 mil bid

In a Friday report, analyst Rachel Tan says, “At the tender price, the consortium is paying an estimated land rate of $1,790 psf ($1,627 psf after accounting for 10% balcony bonus), which is at the higher end of the range of prices awarded in recent times.”

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook