finally, launching the enloc to the market - after 2 years,with the first failed attempt to collect the 80% signatures. no big issues with members and residents along the way. although there's great egos in every member, but finally senses prevailed.
5 sites up for en bloc development, Faber Garden tops list at $830m
Biggest is Faber Garden at indicative price of $830 million
st 18 oct 2011
By Cheryl Lim
The en bloc game is heating up, with some owners hoping to end the year with a big windfall.
Five developments have been put up for collective sale, including Faber Garden - the biggest of the lot.
Based on the site area of 544,738 sq ft and a plot ratio of 1.6, the development has an indicative price of $830million.
This works out to $988 per sq ft per plot ratio (psf ppr). The property's eventual buyer will also have to fork out an estimated development charge of $31.2 million.
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