Shun Tak acquires High Point for $557mil
Shun Tak Holdings, using its 100% owned branch Shun Tak High Point, has recently gotten District 9 home development High Point for $557 million.
The team wants to redevelop the building– that is its fifth building obtainment in downtown S’pore amongst 5 yrs– right into a high-end non commercial structure by having project finalization settled in 2K27.
Situated at the height of Mount Elizabeth throughout the Orchard Rd housing neighborhood, the Twenty Two storey home project got opened for collective sale in Oct with an advise price tag of $5hundred 50 million. The deal was fixed out of its past en-bloc bid in ’19.
Wrapped up in 1973, the free lease development occupies a 47,606 sq ft site in which is zoned for Residential purpose underneath the 2019 Master Plan by having an authorized total PR of Two point Eight including an elevation restriction of as much as 36 levels.
That it is a mere seven mins’ stroll to Orchard Road Mass Rapid Transit station and also is in close proximity different services such as Mount Elizabeth Medical center, Paragon Healthcare, Singapore Botanic Gardens in addition to private clubs Tanglin Club as well as The American Club.
“Alongside the obtainment with this 5th real estate, we will additionally broaden our selection and also grip in Singapore and remain to generate premier plus one-of-a-kind elements to enrich the vibrant development of the city,” pointed out Pansy Ho, Group Exec Chairman plus Managing Director of Shun Tak.
She recorded that the productive start of their earlier projects, consisting of Park Nova and Les Maisons Nassim, showed “Shun Tak’s strength in forming premium residential projects with ingenious strategies as well as imaginative touches in which matched the necessity of discerning purchasers from both local also world-wide markets”.