Mandarin Gardens eyeing $2.5 billion collective sale

Romesh Navaratnarajah15 Mar 2018

The owners of Mandarin Gardens would stand to earn $1.58 million to $5.07 million based on the reserve price.

Mandarin Gardens condominium is now poised to raise the bar for collective sales attempts in Singapore as owners of the 99-year leasehold development have set a $2.48 billion price tag in a new en bloc attempt, reported Channel NewsAsia.

“This would represent probably the highest land price ever in Singapore in terms of absolute quantum,” said International Property Advisor chief executive Ku Swee Yong.

More: Mega developments take collective sale fever to new level

“$2.5 billion sounds large, but that’s partly also because this piece of land is one million square feet. Multiplied by the plot ratio, you could in fact build about three million square feet of residences.”

With C and H Realty as the appointed marketing agent, the collective sale agreement states that owners of the East Coast development stand to earn $1.58 million to $5.07 million based on the reserve price.

Located at Siglap Road, the 1,006-unit condominium enjoys a sea-facing view of East Coast Park and is near various schools such as Tao Nan School and Victoria Junior College.

Analysts believe the owners could face an uphill task as the $2.5 billion reserve price sits in uncharted territory.

This comes as developers must still consider the Additional Buyers’ Stamp Duty, development charge and upgrading premium as factors that could pile on the costs, which could balloon to a whopping $3 billion or $4 billion.

Currently, the former Farrer Court, which has been redeveloped into d’Leedon, holds the record for the largest collective sale by dollar value, fetching around $1.3 billion in 2007.


Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email


You may also like these articles

Goodluck Garden up for en bloc sale, owners expect offers above $550mil

Goodluck Garden, a freehold condominium site along Toh Tuck Road, has been put up for collective sale, with the owners expecting offers above their $550 million reserve price, revealed marketing agent

Continue Reading26 Jan 2018

Minbu Villa joins en bloc frenzy with reserve price of $145.8m

Completed in 1981, Minbu Villa comprises 33 apartments and a penthouse. (Photo: Savills Singapore)Minbu Villa, a 10-storey freehold residential development in Novena, has been launched for collective

Continue Reading15 Mar 2018

Sim Lim Square attempting $1.1 billion en bloc sale

Sim Lim Square is a six-storey retail mall completed in 1987. (Photo: SLP International Property Consultants) Popular IT mall Sim Lim Square is attempting to go en bloc following a second extraordina

Continue Reading15 Mar 2018