MANDARIN GARDENS ENBLOC

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Mandarin Gardens Enbloc

District 15 Mega Land Plot

AWAITING SUCCESSFUL ENBLOC

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DISTRICT
D15 - BEDOK
UNITS
TBA
PROPERTY TYPE
CONDO
TENURE
99 YEARS
LEASEHOLD

Register for Updates on Mandarin Gardens Enbloc!

The 1,006 unit Mandarin Gardens sits on a massive 1.07 million sqft land plot, located near the upcoming Siglap MRT Station.

In Jan 2023, Mandarin Gardens launched their third enbloc attempt at a reserve price of S$2.88 billion, following 2 earlier attempts in 2008 and 2018.

Completed in 1986, if the collective sales is successful, it could mark the biggest en bloc transaction by dollar value in Singapore, and could yield between 3,000 and 4,200 units when redeveloped.

Mega land plot located in the highly sought after District 15
Near to the upcoming Siglap MRT Station
Located close to established schools such as Tao Nan School and Victoria Junior College

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Registration: General Form

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Mandarin Gardens Project Information

LAND SIZE (SQM)100,235
MASTER PLAN GFA (SQM)280,657
MASTER PLAN PLOT RATIO2.8
PROJECT NAMEMANDARIN GARDENS
STREET NAMESIGLAP ROAD
PROPERTY TYPECONDOMINIUM
TENURE99 YRS FROM 1982
DISTRICT / PLANNING AREAD15 / BEDOK
COMPLETION1986
NO. OF UNITS1,006
Mandarin Gardens Photo

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Mandarin Gardens Price Trend Chart and Comparisons

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Press Coverage 

Meyer Park en bloc sale relaunches at lower S$390m reserve price

17 Jan 2023

Separately, another District 15 condo, Mandarin Gardens, is also taking one more shot at a collective sale. Owners of the 99-year leasehold development on Siglap Road are reportedly considering a reserve price of S$2.88 billion.

The 1,006-unit condominium sits on a 1.07 million sq ft site.

This is Mandarin Gardens’ third attempt at an en bloc sale, with the first two in 2008 and 2018. In the second attempt, the condo’s collective sales committee raised the asking price twice from an initial S$2.478 billion to S$2.788 billion, and then again to a record-high S$2.927 billion.

But by the time the collective sale agreement expired in March 2019, only 68 per cent of owners had signed on the dotted line – falling short of the requisite 80 per cent consensus.

Completed in 1986, the condo is 37 years old this year.

Reference

Press Coverage 

Mandarin Gardens owners turned nose up at S$3 billion tag; will latest en bloc effort succeed?

8 Dec 2021

SOME owners at the sprawling Mandarin Gardens, which houses more than 1,000 units, are again eyeing an en bloc sale of the 99-year leasehold condominium as the market regains momentum.

The mega development, near East Coast Park, formed a collective sale committee (CSC) on Sunday (Dec 5), and will soon select the committee chairman and other key positions, Lianhe Zaobao reported on Wednesday (Dec 8).

Its previous attempt in 2018 came to naught when the CSC then failed to obtain enough signatures to launch a tender.

That was despite the committee having increased the reserve price twice. It was raised from an initial S$2.48 billion to about S$2.79 billion when the CSC discovered that the 1.07 million square foot (sq ft) land parcel was undervalued by more than S$300 million, and later to around S$2.93 billion to persuade more owners to give their consent.

Reference

Press Coverage 

Mandarin Gardens raises en bloc asking price to S$2.79b

13 Nov 2018

IF the owners of the Mandarin Gardens condominium have their way, the 99-year leasehold development in East Coast Road could be sold for a new record price of S$2.79 billion.

This is 12.5 per cent more than the original asking price of S$2.48 billion, and higher than the previous mark set by Pandan Valley's S$2.6 billion, according to a report published by TODAY on Sunday.

The report quoted Leonard Jayamohan, the spokesman for Mandarin Gardens' collective sale committee (CSC) as saying that it was recently discovered that the land on which the 1.07 million sq ft property is on was undervalued by more than S$300 million.

CSC chairman Vincent Teo on Sunday sent a bulletin to residents to explain that the committee had discovered the disparity after conducting a check of Mandarin Gardens' development baseline record with the Urban Redevelopment Authority (URA).

Reference

Press Coverage 

Total tab for Mandarin Gardens could hit S$4b

On top of the S$2.48b asking price, a successful buyer would have to fork out about S$325m to top up the lease, and an estimated S$1.28 billion in differential premium

27 Mar 2018

IF the Mandarin Gardens condominium ends in a successful en bloc sale, the buyer could end up with an overall price tag of S$4 billion.

Marketing agent C&H Properties told owners this at a second extraordinary general meeting on Sunday afternoon, where they approved the asking price of S$2.48 billion as well as the method of apportionment.

The owners also approved the collective sales agreement at the meeting held at Touch Centre at Marine Parade Central, according to Nelson Lim, C&H Properties' key executive officer.

With that approval, the 99-year leasehold estate along Siglap Road has begun the process of collecting signatures from owners to get the requisite 80 per cent for the collective sale to be launched.

Reference

Press Coverage 

Mandarin Gardens condominium approves asking price of S$2.48b

25 Mar 2018

IF Mandarin Gardens condominium does end up going on the market, potential developers could end up paying over S$4 billion to purchase and build the new property.

Marketing agent C&H Properties told owners this at a second extraordinary general meeting (EGM) on the afternoon of March 25, where they approved the asking price of S$2.48 billion as well as the method of apportionment, according to sources present.

They also approved the collective sales agreement at the meeting held at Touch Centre at Marine Parade Central. With that, the 99-year leasehold estate has begun the process of collecting the 80 per cent signatures required for the collective sale to be launched. The day of the second meeting would also be the 64th day since the first EGM, said the source. The target is to get the 80 per cent mandate in three months.

Reference

Press Coverage 

Mandarin Gardens 'likely to draw joint ventures and foreign players'

16 Mar 2018

WITH an eye-popping reserve price of S$2.45 billion and sprawling size of over one million sq ft, Mandarin Gardens could be a tough sell.

But if what could be the nation's largest residential en bloc deal ever materialises, it will likely involve several developers joining hands - perhaps including a foreign developer.

Owners of the 1,006-unit condominium at Siglap Road could pocket between S$1.58 million and S$5.07 million, Raymond Khoo, business development director and division director for marketing agent C&H Realty, told The Business Times.

Reference

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