Singapore seeing new records of en bloc sales in 2018

The freehold Tulip Garden was sold en bloc for US $680 million, the second biggest sale of its kind so far this year after the US $735 million deal of Pacific Mansion in March. However, these records could be smashed by upcoming collective transactions including the freehold Faber Garden with a reserve price of US $885 million, the US $1.24 billion Pine Grove, the US $1.26 billion Dairy Farm, the US $1.56 billion Braddell View, and the US $1.86 billion Mandarin Gardens.

For the development pipeline, this market will welcome the 51-storey CapitaSpring, a mixed-use development scheduled for completion by 1H 2021. This tower will be one of the tallest and greenest buildings in the CBD of Raffles Place, featuring a 299-unit Citadines serviced residence, offices, as well as commercial and community spaces.