Sultan Plaza attempts collective sale

By Charlene Chin
/ EdgeProp Singapore |
(Credit: Teakhwa Real Estate)
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SINGAPORE (EDGEPROP) - Owners of Sultan Plaza shopping mall have kickstarted the attempt to launch the development for a collective sale at a guide price of $360 million, according to Teakhwa Real Estate, which is the marketing agent for the property.
The commercial site occupying 52,471 sq ft at 100 Jalan Sultan may be redeveloped into a 30-storey mixed development project or a 700-key hotel, with either having a gross floor area of up to 262,356 sq ft, says the firm.
Sultan Plaza is located close to downtown Marina Bay and the Kampong Glam district. It is a five-minute walk to Nicoll Highway MRT Station.
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A meeting has been held to gain approval to launch Sultan Plaza for collective sale from the owners of the development. It can be launched for collective sale once 80% of the owners by share value and strata area agree to the proposal.
Ask Buddy
Condo projects with most unprofitable transactions
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Upcoming new launch projects
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Condo projects with most unprofitable transactions
Compare price trend of Condo new sale vs EC new sale
Upcoming new launch projects
Condo projects with most profitable transactions
Condo projects with most expensive average PSF

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