EL Development has inked a deal to buy the freehold Diamond Tower at Jalan Rajah in the Balestier area for $49.6 million through a collective sale. The price works out to a unit land price of about $652 per square foot of potential gross floor area inclusive of an estimated $300,000 development charge payable to the state. Diamond Tower has a land area of about 27,323 sq ft and is zoned for residential...
