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The Arcady at Boon Keng is the former Euro-Asia Apartments, which was successfully sold enbloc to KSH Holdings’ indirect subsidiary for S$222.18 million, on their second attempt at a collective sale, after its first attempt was launched in 2018 at a lower reserve price of S$200 million.
The new development is a Freehold new launch featuring 172 units, located at 1037 Serangoon Road.
For latest information on The Arcady available units and pricing, please call 61008108
The Arcady at Boon Keng is located at the site of the former Euro-Asia Apartments, along St Barnabas Lane.
26 July 2022
SINGAPORE - Euro-Asia Apartments, an 84-unit development in Serangoon Road, has been sold via a collective sale tender to an associated company of Singapore-listed property firm KSH Holdings for $222.18 million, above its guide price of $218 million.
The associated company, KSH Ultra Unity, is also owned by H10 Holdings, an associate company of Ho Lee Group and SLB Development, whose parent is Lian Beng Group.
H10 Holdings and SLB Development have an equity interest of 36 per cent and 15 per cent respectively.
Owners of the freehold condominium units ranging from 840 sq ft to 2,443 sq ft will each stand to get between $1.76 million and $3.97 million, Mr Low Choon Sin, SRI managing partner of marketing agent SRI Capital Market told The Straits Times on Tuesday evening (July 26).
1 June 2022
SINGAPORE - Singapore's collective sale market appears to be heating up, with at least two freehold residential properties renewing their bids to sell en bloc, as developers look to increase their landbanks amid robust sales at new launches.
Euro-Asia Apartments, an 84-unit development in Serangoon Road, was put up for collective sale via public tender at a guide price of $218 million, while Jansen Mansions in the Kovan area is trying its luck for a third time at $18.9 million.
According to Cushman & Wakefield, five residential developments were sold en bloc for $447.7 million in the first five months of 2022, compared with three deals totalling just $74.4 million in the same period last year.
For the whole of 2021, eight residential collective sale deals totalling $1.17 billion were done.