Successful En bloc
Raintree Gardens was among the successful en bloc properties this year.
Market watchers anticipate more residential properties to go en bloc following the success of three collective sales this year, in 2017, reported The Business Times.
More To Come
“Next year, I anticipate more — and a broader variety of — offerings in the marketplace, mostly of small- and medium-sized en blocs, which ought to find takers among developers that are eager to really have a new project to work on, so long as they’re sensibly priced,” said JLL International Director and Head of Residential Karamjit Singh. And not forgetting that there will be also new launches in 2017 like Grandeur Park Residences By CEL, Frasers @ Siglap, Inz Residences EC by Qing Jian etc…
Development in progress
Singh credited this year’s pickup in en bloc prices to development website deficit, retrieval of residential outlook from negative to neutral- the realistic pricing, along with positive and powerful aspects of en bloc websites offered.
The collective sale committee (CSC) for Lakeside Towers in Jurong, for example, has invited seven legal businesses and 14 property consultancies to submit suggestions for consultancy services to carry out the en bloc sale procedure. The CSC is currently going through the bid entries, after which an en bloc sale deal will be drafted by them using a reservation price.
“We reckon that $250 million to $300 million in bid cost ought to not be uncomfortable to an individual developer,” said the CSC chairman Simon Lee.
Jobs anticipated to take the en bloc course by Q1 2017 contain the 12-unit Villa D’Este on Dalvey Road in prime District 10, and Cairnhill Mansions in District 9.