Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, using its wholly-owned branch Shun Tak High Point, has recently acquired District Nine residential project High Point for $Five hundred Fifty Seven million.
The group wishes to reconstruct the real estate– that is its own 5th apartment attainment in city Singapore within five years– toward an extravagance residential development with project conclusion allocated in 2K27.
Placed at the top of Mt E inside of the Orchard Rd non commercial spot, the Twenty Two storey residential development got commenced for collective deal in Oct along with an advise rate of $5hundred 50 million. The deal was firm from its previously en bloc offer in 2019.
Wrapped up in 1973, the free lease property occupies a Forty Seven thousand Six hundred Six sq ft location in which is zoned for Residential utilization beneath the 2K19 Master Plan with an allowed gross PR of Two point Eight as well as a peak limitation of as much as Thirty Six levels.
It is an only 7 minutes’ stretch to Orchard Rd MRT terminal and is close-by multiple features featuring Mt E Hospital, Paragon Healthcare, SGP Botanic Gardens along with nonpublic clubs Tanglin Club and The American Club.
“By having the procurement of this particular fifth residential property, we will even further increase our selection and even position in Singapore and persist to produce excellent plus special aspects to improve the vivid project of the place,” said Pansy Ho, Team Executive Chairman also Managing Dir of Shun Tak.
She noted that the prosperous release of their past properties, offering Park Nova and Les Maisons Nassim, exhibited “Shun Tak’s substance in forming superior residential properties with ingenious strategies as well as creative feels that suited the requirement of refined customers from both local plus world-wide markets”.