Laguna Park crosses 80% treshold

Source: Todayonline. 15 Dec 2008

Despite challenging situation of the current property market, owners of Laguna Park had consented the enbloc sales process, for a price of $1.8 million to $2.3 million for their units instead of the initial hope of $3 million last year.

The current asking price would amount to approximately $1.2 billion for the 667,000 square feet site with plot ratio 2.8, amounts to around $643/sqftppr.

Depite being one of the rare plots having superb seaview, with it's leasehold tenure, it may be difficult for developers to purchase and relaunch at a remarkable profit condisering high construction cost currently.