SINGAPORE — The total value of en bloc deals this year has crossed the S$1 billion mark, after the 175-unit Raintree Gardens in Potong Pasir was sold to an associate company of UOL Group for S$334.2 million, said marketing agent JLL on Thursday (Oct 6).
Reflecting the turnaround in the property market, the value of the successful deals so far this year — totalling slightly above S$1 billion — is the highest since 2012, when 19 deals were transacted for S$1.2 billion, showed figures by Urban Redevelopment Authority (URA) and OrangeTee. The total value of en bloc deals reached S$2 billion and S$3.3 billion in 2010 and 2011, respectively, in the midst of a property bull run.