Ho Bee, IOI Properties win Sentosa’s last prime condo site

A tie-up between Ho Bee and Malaysia’s IOI Properties has clinched the last prime condominium site on Sentosa for S$1.1 billion.

The price for the Pinnacle Collection works out to S$1,822 per square foot per plot ratio.

Ho Bee will have a 35 percent stake while the remaining interest will be held by IOI.

The 99-year leasehold site covers 232,000 square feet and has a plot ratio of 2.6.

The condominium development is expected to yield about 360 units and have a maximum height of 20 storeys. – CNA/ms

Source : Channel NewsAsia – 9 Jan 2008

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