Institutional investors looking to dispose of luxury flats via bulk sale deals

Morgan Stanley and Lafe Corp are looking for buyers.

A number of developers and institutional owners are exploring the bulk sale of their luxury residential unit, a report by Colliers revealed.

For example, a German core fund managed by Morgan Stanley is said to be exploring a bulk sale of its 23 units in the Draycott Eight condominium.

Meanwhile, Lafe Corporation is understood to be looking for a bulk buyer for the remaining 21 units at its 33-unit Residences at Emerald Hill.

The developer needs to sell all of the units in the development by June 2015 to avoid paying another round of extension charges to the authorities under the Qualifying Certificate (QC) rules,” Colliers stated.