Singapore’s Pine Grove in relaunch for collective sale at US$1.45bil

As at March 3, over 62% of home owners at Pine Grove have consented to the lower reserve price. — The Straits Times

SINGAPORE: Pine Grove condominium will be relaunched for collective sale at S$1.95bil (US$1.45bil) after its collective sale committee (CSC) failed to get the 80% mandate to lower the reserve price to S$1.78bil. The tender closed yesterday.

Efforts were under way to get the mandate for the lower reserve price until the close of tender, marketing agent ERA Realty Network’s managing director of investment sales, Tay Liam Hiap, told The Straits Times.