Shun Tak acquires High Point for $557mil

Shun Tak Hldgs, via its wholly-owned alternate firm Shun Tak High Point, has actually secured Area Nine residence property High Point for $Five hundred Fifty Seven mil.

The grp wants to redevelop the residence– that is its 5th residence gain in city S’pore throughout 5 years– into a luxurious non commercial structure for building fulfillment allocated in 2027.

Resided at the top of Mount E among the Orchard Road home spot, the Twenty Two storey housing project was launched for en bloc deal in Oct along with an instruct price of $550 million. The rate was consistent out of its prior collective sale quote in ’19.

The M Condo

Fulfilled in 1973, the free lease structure inhabits a 47,606 square foot spot in which is sector for Non commercial purpose under the 2019 Master Plan including an allowable total PR of 2.8 also an altitude limitation of up to 36 levels.

That it is a simple seven minutes’ walk to Orchard Road MRT station and is close to a range of conveniences featuring Mount E Medical facility, Paragon Healthcare, S’pore Botanic Gardens and even nonpublic clubs Tanglin Club and also The American Club.

“By having the purchase with this 5th property, we shall in addition grow our collection and position in SGP and persist to generate premier also distinct aspects to improve the vibrant structure of the urban area,” explained Pansy Ho, Group Exec Chairman plus Managing Director of Shun Tak.

She indicated that the productive commence of their previous properties, including Park Nova also Les Maisons Nassim, exhibited “Shun Tak’s steadiness in creating premium quality home properties with ingenious strategies as well as creative touches in which well-matched the necessity of perspective prospects from either local also international industry”.


error: Content is protected !!