Roxy Square owners aim to cut asking price by 11% to $1.12 billion in another en-bloc bid

Quick Summary:

Owners collecting signatures to get 80 per cent mandate to cut reserve price.

Subject to the Urban Redevelopment Authority’s approval, a developer could potentially configure the allowable GFA into a mixed-use development with more than 350 residential units, and close to 80,000 sq ft of retail and food and beverage space.

Factoring in an additional 10 per cent for the bonus gross floor area (GFA) for the residential component if the land betterment charge is paid, the land rate would be $1,804 psf ppr, from the earlier $2,034 psf ppr.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Price Cent Roxy Square Billion Collective Land Property Owners Reserve Katong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-15 @ 14:23:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 499 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 25171248

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