[vc_row hide_bg_image_on_tablet=”” hide_bg_image_on_mobile=””][vc_column][vc_empty_space alter_height=”medium” hide_on_desktop=”” hide_on_notebook=”” hide_on_tablet=”” hide_on_mobile=””][vc_column_text]The en bloc fever has reached a new high with an attempt by the owners of Mandarin Gardens condominium to engineer what is set to become Singapore’s largest collective sale.<\/p>\n
ZACD Group executive director, Nicholas Mak said, \u201cTheir asking price of S$2.5 billion will also be historically the highest asking price in any collective sale. This will be a very huge challenge to find developers with pockets deep enough to acquire and develop this site.\u201d<\/p>\n
With S$2.5 billion as the reserve price, analysts say developers still need to consider the upgrading premium, development charge, and Additional Buyers\u2019 Stamp Duty as factors that pile on the costs.<\/p>\n
This means that the total bill to acquire the lush estate in eastern Singapore, and to build a new one, they add, could eventually balloon to S$3 billion or S$4 billion.<\/p>\n