Shun Tak acquires High Point for $557mil
Shun Tak Holdings, using its 100% owned subsidiary Shun Tak High Point, has recently obtained Area Nine home project High Point for $Five hundred Fifty Seven million.
The grp expects to rebuild the building– that is its own fifth property acquirement in central Singapore throughout five years– into a privilege housing development for project fulfillment embeded in 2027.
Resided at the summit of Mt E inside the Orchard Road non commercial area, the 22-storey home property happened to be released for en-bloc deal in October by having a guide price of $550 mil. The pricing was unaltered from its previously en-bloc attempt in 2K19.
Concluded in 1973, the free lease development occupies a 47,606 sq ft plot that is sector for Residence application underneath the 2019 Master Plan including an authorized entire PR of 2.8 including a height maximum of up to Thirty Six storeys.
That it is an only 7 minutes’ stroll to Orchard Road Mass Rapid Transit terminal and even is close-by different features featuring Mount E Healthcare facility, Paragon Healthcare, S’pore Botanic Gardens and also personal clubs Tanglin Club as well as TAC.
“Alongside the buy of this 5th property, we shall additionally broaden our portfolio and position in SGP and remain to produce top-notch also extraordinary factors to enrich the dynamic property of the urban area,” revealed Pansy Ho, Grp Exec Chairman also Managing Dir of Shun Tak.
She mentioned in which the prosperous commence of their previous properties, offering Park Nova also Les Maisons Nassim, showed “Shun Tak’s strength in establishing top quality household projects with innovative conceptualizations as well as ingenious feels that well-matched the requirement of discerning prospects from both local along with international markets”.