The tender for Horizon Towers - the first major en bloc exercise to close after July's property cooling measures - ended on Wednesday without a single bid. While strong interest was not expected given the tough measures introduced on July 6, the absence of any bids from developers added to the disquiet in the en bloc market, especially big estates eyeing billion-dollar tabs. Horizon Towers' marketing...
Horizon Towers has extended the closing date for its collective sale tender by more than a month. This following cooling measures that took effect the day after the site had launched for sale on July 5 with a S$1.1 billion reserve price. "The decision was made following feedback from developers that they remain interested in the prime site, but would now require more time to observe and re-assess the...
Eleven years after its failed attempt at a collective sale, condominium development Horizon Towers is on the market again at a reserve price of S$1.1 billion. The reserve price translates to S$1,964 per sq ft per plot ratio, and is more than double the S$500 million deal in 2007 with a consortium led by Hotel Properties that eventually fell through. The 99-year leasehold condominium at Leonie Hill...
A group of homeowners has finally won the fight to keep their condominiums, ending a two-year legal saga. In an unprecedented move, the Court of Appeal has ruled in favour of owners who objected to the S$500 million en bloc sale of Horizon Towers. The Leonie Road condominium was to have been sold in 2007 to Hotel Properties and its partners. Had the en bloc sale gone through, owners of its 199 units...
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