OWNERS of East Coast condominium Laguna Park have failed in their bid to sell the property en bloc for $1.2 billion through a tender process. Industry analysts say the result was not surprising, considering the high asking price. However, in a curious twist of events, one company had submitted a bid for $1.728 billion - only to withdraw the offer on Thursday night. The estate's marketing agent, Credo...
Laguna Park Enbloc
The company that had submitted the higher of two bids withdraws, citing funding difficulties LAGUNA Park, which went up for collective sale last month at $1.2 billion, has failed to attract a buyer so far. The 528-unit leasehold project at Marine Parade remains unsold after the company that submitted the higher of two bids faced funding problems. At the close of the tender on Tuesday, two submissions...
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...
Singapore property giant CapitaLand has ruled itself out of bidding for the Laguna Park estate, which was put up for collective sale earlier this week. CapitaLand's chief executive Liew Mun Leong said yesterday that the reserve price tag of some $1.2 billion for the estate is "too high to yield affordable homes". He was speaking on the sidelines of an event to unveil the design of The Interlace, an...
Businessman accused of vandalising property at East Coast estate WHEN the possibility of a collective sale for Laguna Park was announced in December 2007, some residents held back, hoping this would drive up the estate's value. But things turned ugly later at the East Coast area condominium, which was hit by a spate of vandalism cases after several residents opposed the sale. Cars belonging to residents...
When the possibility of a collective sale for Laguna Park was announced in December 2007, some residents held back, hoping it would drive up the estate’s value. But matters turned ugly later at the East Coast condominium, which was hit by a spate of vandalism after several residents opposed the sale. Cars belonging to residents against the sale were splashed with paint or scratched, while mailboxes...
THE market may have cooled, but en bloc fever is even higher than before at Laguna Park, as approval from owners at the 30-year-old condominium crossed the 80-per-cent threshold on Friday, allowing the en bloc sales process to proceed to the marketing stage. Now the residents are optimistic the prime location of the 528-unit property will help them get their asking price of $1.2 billion, despite the...
While the en bloc market may have slowed, the residents of Laguna Park are optimistic their prime location will help them get their asking price of S$1.2 billion. The en bloc sale of the 30-year-old condominium crossed the 80 per cent threshold on Friday allowing the process to proceed to the marketing stage. This is despite the property market softening from the economic slowdown. With schools like...
LAGUNA Park condominium along Marine Parade Road could be up for collective sale, with about 77 per cent of tenants so far agreeing to it, Channel NewsAsia reported. The sales committee could expect a few more signatures in the coming days to cross the 80 per cent trigger point which will move the en bloc process forward. Channel NewsAsia understands that the asking price is about $1.2 billion. Each owner...
Process marked byacrimony and vandalism may finally have a happy ending for owners THE owners of homes at Laguna Park condominium at Marine Parade are inching closer to a collective sale, after securing approval from owners representing 76 per cent of the share values at the property. The owners have been working on a collective sale since last year, and the process has been marked by acrimony and...