Home owners at the Laguna Park condominium in Marine Parade are now faced with the choice of selling their homes at an average of 20 per cent lower than their initial asking price.
This comes after a failed tender earlier this month.
Then, the site received a bid from an Indonesian-owned, locally incorporated company of S$1.728 billion, but a downpayment could not be made in time.
Since then, the collective sale committee has circulated a letter informing owners of a new potential selling price of S$967 million.
Under en bloc sale regulations, 80 per cent of owners need to vote in favour of this price tag before the sale can proceed.
When Laguna Park opened for tender in September, most owners stood to gain around S$2.1 million to S$2.3 million each. Penthouse owners would have gotten between S$3.5 million and S$4.1 million each. Continue reading
Lush Dream Home 