Laguna Park En Bloc Called Off

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The en bloc sale of Laguna Park has been called off as the sales committee found it was not able to get consent level from owners at a lower proposed price of $967 million down from the original $1.2 billion.

Although two bids were submitted, no buyer made the downpayment to seal the $1.2 billion deal at the time. Although signing of a supplemental agreement at the lower price had started last month, so far no conditional agreement had been inked with any potential buyer for a sale at the lower price. The revised $967 million price tag includes payment to the state to intensify the site’s use and top up its lease to a fresh 99-year term.

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