Kuwait Finance House (KFH) has allowed options to acquire 97 units of the high-end Goodwood Residence to lapse.
The deal would have been worth S$818 million for developer GuocoLand, which has said that Singapore’s property market appears to be cautious.
The developer had granted Kuwait Finance House the options back in December.
In a filing to the Singapore Exchange, GuocoLand said the two parties are in talks about fresh options for the units in the development.
Goodwood Residence, located near the Orchard Road shopping belt, is a high-end residential development with 210 units in two towers. – CNA/ac
Source : Channel NewsAsia – 10 Mar 2008