Friday, September 29, 2006
[RealEdge] CNA : CapitaLand acquires Silver Tower on Orchard Road enbloc for S$161m
CapitaLand acquires Silver Tower on Orchard Road enbloc for S$161m
Posted: 28 September 2006 2001 hrs
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SINGAPORE: CapitaLand has acquired Silver Tower on Orchard Road in a collective sale for S$161m.
It plans to build a luxurious 20-storey condominium with 100 apartments on the freehold site.
CapitaLand's purchase works out to S$1,107 per square foot per plot ratio.
This includes an estimated development charge of S$16.5m.
Silver Tower sits on a 57,200 square feet area with a gross plot ratio of 2.8.
There are currently 38 apartments there.
CapitaLand is targetting to launch the development by end 2007.
CapitaLand has been seeing strong interest in its high-end developments over the last two years. - CNA /dt
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// posted by Shajahan @ 12:39 AM 