Chuan Park

Kingsford Development and MCC Land have made a S$890 million ($637.2 million) offer for the Chuan Park condo project in Singapore.

According to Urban Redevelopment Authority figures, condos in the project sold for a median price of S$1,864 per square foot in June. “As such, buyers are likely to turn more cautious and selective.” As such, developers remain cautious and selective in their bids for land.” Located beside Lorong Chuan MRT station at 240-250 Lorong Chuan, Chuan Park dates back to 1984 and has around 55 years remaining on its 99-year leasehold land tenure. “However, this is balanced by rising development costs and risks due to rising inflation and interest rates. A notice sent out to owners of units in the Chuan Park condominium complex in Serangoon district on Friday invites them to a meeting on 25 July to receive an update on a sale and purchase agreement signed by the residential development’s collective sale committee with an unnamed buyer.