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Sim Lian to develop 2,000-unit condo on Tampines Court
It successfully acquired the project for $970m.
Sim Lian will develop a 2,000-unit condominium project on its recently acquired Tampines Court, according to PropertyGuru.
UOB said the $970m price works out to a rate of $676 psf, including $359m for site intensification and bringing the leasehold to 99 years.
Based on a previous report, the sale is the second largest collective sale after Farrer Court in 2007.
The owners will receive $1.7m to $1.8m each.
Tampines Court has 560 units within 14 blocks. The site can accommodate a maximum gross floor area of 1.97 million sqft.
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