Singapore real estate market remains attractive for property investor
Amber Park located in Marine Parade district 15 has hit a collective sales record price of $96.7 million.
The buyer was a from a prominent real estate developer City Developments Limited (CDL) & Hong Leong Group Limited. There were a total of 200 Amber garden units, covering an area of 213670 square feet. Every household is expected to be awarded $4.3 million to $8.3 million.
City Developments Limited (CDL) is also the developer of the former Amber Park that was built in 1986. As they are the developers of the project, they are very familiar with the area and estate. Once the authorities approved the development of the project, the construction plan is to build up 25 floors of the luxury apartments, total units close to 800.
Analysts had polled believe that the collective sale with a price target role. Sales agent Jones Lang LaSalle pointed out that the area had received a total of eight tender, competition is fierce. This is the fourth Amber garden expand collective sales.