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Property fund snaps up 21 condo units for $65m

Tuesday 04 August 2009

In one of the first bulk sales of apartments since the economic crisis unfolded last year, a property fund is understood to have purchased the remaining 21 units at Sui Generis condo at Balmoral Crescent for $65 million. The price works out to about $1,260 per square foot on average.

The units are said to be located throughout the freehold project, which is slated for completion around the second quarter of next year. The condo comprises three blocks- seven, nine and 12 storeys high. It is being developed by a joint venture involving United Engineers and Kajima.

Source: The Busines Times