RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Extended tender didn't work for $1b Horizon Towers

With no bids at all, it may have been a casualty of the property curbs in July.

On its extended tender closing, the Horizon Towers has failed to see any bidders for its price of $1b, sole marketing agent JLL told Singapore Business Review.

According to JLL, the property curbs in July may have hit the interest of potential bidders for the said property.

Located in Leonie Hill, the property which comprises 211 units in two towers has a reflected unit land rate is $1,786 psf ppr.

Owners have attempted to sell the property again in 2018 after being blocked 11 years ago. Its tender was supposed to close on 7 August but was extended further to 13 September, but still with no bids received.

According to JLL, the property is considered for another public tender by early 2019.

“We are focusing to see whether new projects will be moving well in the next few weeks,” the firm said.

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