With the en bloc beneficiaries at Amber Park expecting to collect their sale proceeds soon, owners of condominiums in the neighbourhood are enjoying a price uplift.
The 200-unit Amber Park was sold en bloc to listed property developer City Developments (CDL) last October for $906.7 million, or $1,515 psf per plot ratio (ppr). Owners of typical three-bedroom units in the project will receive $4.376 million each, while penthouse owners will pocket $8.3 million each. Based on the land rate of $1,515 psf ppr, CDL is expected to price the new 600-unit development, called The Opus, at $2,300 to $2,400 psf.