City Plaza owners eye another mega en bloc attempt with S$970 million reserve price

[SINGAPORE] Owners at City Plaza, a freehold mixed development in Geylang, are edging closer to the 80 per cent mandate required to launch a third collective sale attempt with the reserve price set at S$970 million, The Business Times has learnt.

The development’s collective sale committee (CSC) said that it has secured 78.37 per cent support from owners by strata area, and 76.57 per cent by share value – putting it within reach of the threshold needed to formally launch the en bloc process.

Huttons has been appointed as marketing agent for the development.