Global Dragon acquiring Katong Omega Apartments for $46.31m

Singapore-listed Global Dragon, the former TMC Education Corporation, said it has agreed to acquire Katong Omega Apartments in a collective sale for $46.31 million at the close of its public tender on April 5.

This was the highest bid in a contest of seven bidders at the close of the public tender on April 5, according to marketing agent Teakhwa Real Estate.

In a regulatory filing yesterday, Global Dragon said it submitted the bid through wholly owned subsidiary GDL Land. Continue reading

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4 residential sites join collective sale market

Another four residential sites have hit the collective sale market to meet what appears to be an insatiable demand from developers.

Asia Gardens in Everton Road leads the way with an asking price of $338 million, followed by Park View Mansions near Jurong Lake at about $320 million.

Firms may also consider 27 Moulmein Rise with a reserve price of $110 million, or Katong Omega Apartments at $41 million. Continue reading

Katong Omega Apartments up for collective sale at S$41m

SINGAPORE – The slew of recent collective sales of private apartments continues unabated with the latest addition of Katong Omega Apartments, up for sale en bloc with an indicative price of S$41 million.

Strata board approval is not needed for the sale as all 18 owners of the freehold District 15 residence at 357, East Coast Road, have signed on, marketing agent Teakhwa Real Estate said in a statement on Wednesday (March 7).

The guide price translates to S$1,061.90 per sq ft (psf) of potential gross floor area, including the differential premium of about S$480,000, subject to confirmation by the relevant authorities. Continue reading