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[Singapore] - Unidentified China man just paid Sg$300 million for all 20 units at luxury condominium Eden all for himself and his family

UltimaOnline

Alfrescian (InfP)
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Word on the street is that all 20 units at Swire Properties’ luxury condo Eden at 2 Draycott Park have been sold to a single buyer. The buyer is believed to be a Chinese family. The purchase price is said to be Sg$300 million.

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https://www.edgeprop.sg/property-news/bulk-purchase-eden-rumoured-be-300-mil

https://forums.fuckwarezone.com.sg/...ed-buy-20-units-eden-worth-$300m-6489079.html
 
That is good news for the seller (make profit) and for singkies who own property (make profit) and the gahmen (taxes) ..believe me,,for all who have their own property,,,no one wants the value and price to go backwards
 
and there you are, ladies and gentlemen,
another piece of singaporean prime territory taken over by foreigners
 
Clear cut case of using this as a legit platform to channel funds out of Tiongland.
 
Single buyer from North-Asia buys up all 20 condo units for $300m while ex-MP concerns SGs priced out of property market - The Online Citizen Asia
by Correspondent
27/03/2021
Reading Time: 2 mins read
Single buyer from North-Asia buys up all 20 condo units for $300m while ex-MP concerns SGs priced out of property market

Former People’s Action Party (PAP) MP Inderjit Singh posted a property news article on his Facebook page about a mainland Chinese family buying up 20 condo units in Singapore in 1 single swoop.
The article, ‘Swire Properties sells all units at Eden for $293 mil‘, was published on Edgeprop.sg, a Singapore property portal, on Thu (25 Mar).
All the 20 luxury condo units developed by Swire Properties, named the Eden, was sold to a single buyer said to be a Chinese family from “North Asia” for $293 million or $4,827 psf.
Completed in 2019, Eden was designed by a UK-based multi-award-winning architect. Each of the 20 apartments occupy an entire floor with four en suite bedrooms. The residents enjoy a vertical landscape of hanging gardens, designed as their own “lush, private garden-in-the-sky.
In fact, the design of the apartments is so exclusive and private that “residents can walk freely around their apartment without worrying about their privacy”, according to a source. Eden is a redevelopment of the former Hampton Court, which Swire Properties had purchased en bloc for $155 million in 2012.
Eden is located next to the Tanglin Club at Draycott Park. Nearby is also Le Nouvel Ardmore with its biggest penthouse purchased by Alibaba co-founder Sun Tongyu, who paid $51 million ($3,757 psf) for it few years earlier. The Draycott Park, Draycott Drive and Ardmore Park enclave is also known as the “billionaires’ belt”.
CEO of property company Edmund Tie, Mr Ong Choon Fah, noted that for the ultra-high networth individual, $300 million purchase price “is not too much of an investment outlay”.
“Over the longer-term, prime areas for example the Ardmore-Draycott area has proven to be a great location to park one’s wealth,” said Ong. “We’re seeing more family funds coming in including those from Hong Kong who take a strategic view of their investments.”
This is especially so since China started to clamp down hard on independence movement in Hong Kong, resulting in many rich Hong Kongers as well as mainland Chinese living there to transfer their funds else where.
Meanwhile, Mr Singh is not impressed with the multitudes of rich foreigners buying up properties in Singapore.
“Singaporeans will be priced out of the private property market as we continue to see a flood of foreign funds flow into Singapore. This will have a spiral effect on cost of living in Singapore,” he said.
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That is good news for the seller (make profit) and for singkies who own property (make profit) and the gahmen (taxes) ..believe me,,for all who have their own property,,,no one wants the value and price to go backwards
No capital gains tax.
 
The better condos have Intercom-operated lifts, you can't go up to the floor unless invited by the owner. And no surprise unannounced home visits. :wink:
 
Sg properties are too easy for foreigners to invade alrdy. If that rich guy got daughter, i will find a way to shot gun her.
 
Does M. Tiongkok need a cleaner? A stay-in cleaner? Or gardener, cook, butler? Dot needs a job and a place to sleep.
 
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