At the end of December 31, 2021, a total of 10 sites were reported sold. The total collective sales reached over S$2 billion.
Launched in January, the combine sites of 2, 4 and 6 Mount Emily Road were the first to be sold, ZACD Group picked up the site for S$18 million.
The second site that enter developer land bank was Surrey Point in district 11, ASK Development made up of Creative Investments, Kay Lim Realty and Santarli Capital Venture purchased the site for S$47.8 million.
After these 2 sites in prime zone sold, developer change their sight at district 15, Malacca Hotel site was acquired around March and the buyer & sale price remain unknown.
The district 1 property Maxwell House launched in April gathered a lot of attentions from investors, the prime site was acquired for S$276.8 million by joint venture of Chip Eng Seng, Chuan Holdings and SingHaiyi.
The second site sold in district 15 was Ji Liang Gardens marketed by PropNex Singapore. Owners just made their first attempt selling through tender and was rewarded with successful result. It was sold at $18.6m and buyer remain anonymous.
Third quarter of the year past, the collective sale market witnesses another multi-million-dollar site sold. Flynn Park located at Yew Siang Road was snatched by joint venture of Sunway Developments and Hoi Hup Realty for S$371 million.
En bloc fever reached a new degree with Watten Estate Condo Sold in October, for a huge amount of S$550.8 million, it became one of the top sales of 2021.
The hotly fought prime site was won by joint venture of UOL Group and Singapore Land Group (SingLand).
After ZACD Group bought Mount Emily Road site in early 2021, they now acquired La Ville, an attractive freehold site in district 15.
The bidding war was won by them and they pay for S$152 million for the Tanjong Rhu plot.
Success found its way to Peace Centre & Peace Mansion owners after 5 long attempts at collective sale. The 1 Sophia Road prime site was acquired during “private treaty negotiation process”.
Joint venture of SingHaiyi, Chip Eng Seng and Ultra Infinity find it hard to let it pass and finally decided to pick up the site and bought for S$650 million.
This will be the highest collective sale in 2021.
The last batch of owners that taste collective success were Bukit Timah and Duke’s Road site owners. Royal Golden Eagle and Hillcrest Investments paid S$53.9 million for the acquired land.
Out of 10 sites sold in 2021, 5 of them are within core central region (CCR), prime zone of Singapore. 3 of them are in district 15 zone, Rest of Central Region (RCR).
We remain optimistic that more sites at Outside Central Region (OCR) and Rest of Central Region (RCR) will be targeted by developers in 2022 as their stocks will be running out soon.