Amber Park

Amber Park project may sell for up to $2,400 psf when launched: OCBC

SINGAPORE (Oct 9): OCBC Investment Research is maintaining its “buy” call on City Developments Limited (CDL) while raising its fair value estimate to $12.90 from $12.39 previously after factoring in its recent site acquisition as well as firmer residential average selling price (ASP) assumptions.

This comes after the group last week announced it had successfully tendered for the collective sale of Amber Park via its 80%-owned joint venture (JV) with Hong Leong.

Singapore property stocks jump as big sales buoy sentiment

SINGAPORE (Oct 6): Shareholders of Singapore developers have another reason to rejoice: en-bloc sales are at a 10-year high, according to some estimates.

City Developments and JV partner acquire Amber Park for record-smashing $906.7 million

SINGAPORE (Oct 4): City Developments (CDL) and its joint venture partner have successfully acquired Amber Park at $906.7 million, setting the record as Singapore’s largest freehold collective sale by dollar value.

The property has an area of 213,675 sf, plot ratio of 2.8 and allowable Gross Floor Area of about 598,290 sf.

CDL’s wholly-owned subsidiary Cityzens Development and joint-venture partner Hong Realty plan to redevelop the site into a luxury condominium comprising four 25-storey blocks with close to 800 units and a basement carpark.

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