Expressions of interest but no bids as Loyang Valley collective sale tender closes

The collective sale tender for Loyang Valley closed with no bids on Sept 9, after the 99-year leasehold development in Changi was put up for sale a third time at a reserve price of $880 million.

- Joyce Lim

This time, the reserve price for the 362-unit condominium development was lowered by $100 million from its last tender in 2022.

In a statement on Sept 9, Mr Terence Lian, head of investment sales for the appointed marketing agent, Huttons Asia, said it received expressions of interest, with "negotiations already under way with interested parties".

"The collective sale process remains active," he said, adding that the expressions of interest received were "an encouraging sign of market appetite".

Mr Lian said that on Aug 21, the Civil Aviation Authority of Singapore confirmed to him that the site's building height limit will be raised from 40m to 50m, allowing for a taller redevelopment. Several parties have asked for more time to refine their proposals in the light of the updated planning parameters, he added.