Tag Archives: Laguna Park

Tender for Laguna Park en bloc sale closes unsuccessfully

Posted on 16 Oct 2009 | Comments Off

The tender for the Laguna Park en bloc sale has closed unsuccessfully.

Credo Real Estate said there were two bids for the 528-unit development at Marina Parade at the close of the tender on Tuesday.

A local company whose shareholders are based in Indonesia had offered a price of S$1.7 billion, well above the owners’ Reserve Price of S$1.2 billion.

But Credo said by Thursday evening, the firm decided to withdraw its offer, citing difficulties in their bankers’ ability to process the funds and remit them to Singapore.

The second bid was from a prominent local developer who expressed interest to pursue negotiations with the majority owners.

MediaCorp understands the local developer will settle on a bid price after negotiations with the owners. Continue reading →

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Posted in En-bloc / Collective Sales

Tagged Collective Sales, Enbloc, Laguna Park, Laguna Park Enbloc

Laguna enbloc bid fails

Posted on 16 Oct 2009 | Comments Off

OWNERS of East Coast condo Laguna Park have failed in their bid to sell the property en bloc.

Marketing agent Credo Real Estate said on Friday that athough the tender for Laguna Park’s en bloc sale closed unsuccessfully, owners have until December to enter into a private treaty with any developer to sell the estate.

At the close of the en bloc sale on Oct 13, two bids were received for the 528-unit development at Marine Parade, said Credo.

One of them was from a local firm which offered $1.728 billion – well above the owners’ Reserve Price of $1.2 billion.

It is understood that the principal shareholders are based in Indonesia.

The sales committee had negotiated with the first party on the terms of the sale. Continue reading →