RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Park West sold for $840.89m

About $144.6m can be paid to expand the estate's floor area.

The property at Park West at 2-20 Jalan Lempeng has been sold for $840.89m.

According to the buyers' announcement, the acquisition was made by Sing-Haiyi Gold Pte. Ltd.

Park West comprises a 99-leasehold estate has a land area of approximately 58,867 sqm with a plot ratio of 2.1.

An estimated differential premium of $144.6m can be paid to redevelop the site to a maximum gross floor area (GFA) of 135,982.8 sqm.

The acquisition will be funded by internal resources and bank borrowings.

The buyer said the acquisition will help it to expand its portfolio development in Singapore.

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