Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, through its wholly-owned subsidiary Shun Tak High Point, has attained District Nine residential project High Point for $557 million.
The team is going to reconstruct the real estate– which is its fifth residence gain in downtown SGP amongst 5 yrs– toward an upscale household structure by having building finalization embeded in 2027.
Placed on the summit of Mt E throughout the Orchard Road residence space, the 22-storey residence property was released for en bloc sale in October by having an advise price of $5hundred 50 mil. The value was unaltered created by its previously en-bloc bid in ’19.
Wrapped up in 1973, the freehold development possesses a 47,606 square feet plot in which is sector for Non commercial usage under the 2K19 Master Plan with a permitted total PR of 2.8 including an altitude restriction of as high as Thirty Six floors.
That it is a mere 7 mins’ stroll to Orchard Rd Mass Rapid Transit station and also is in close proximity various amenities including Mount E Medical center, Paragon Healthcare, Singapore Botanic Gardens as well as personal clubs TC also The American Club.
“Alongside the purchase of this fifth residential property, we shall even more widen our portfolio and also foothold in Singapore and go on to deliver top-quality and different components to build up the dynamic development of the urban area,” explained Pansy Ho, Grp Executive Chairman plus Managing Dir of Shun Tak.
She mentioned that the productive start of their past properties, consisting of Park Nova and Les Maisons Nassim, showed “Shun Tak’s core in generating top notch residential properties with revolutionary approaches and artistic touches in which well-matched the necessity of discerning clients from the two local furthermore worldwide sector”.
