The full article can be found in The Business Times, Top Stories Section, Page 4, 9 May 2018.
Another condominium in Pasir Ris is jumping on the collective sale bandwagon with an asking price of S$780 million. Completed in 1994, the 516,877 sq ft development, Elias Green Condominium, consists of 419 units and has a plot ratio of 1.4. This translates to S$1,078 per square foot per plot ratio.
The collective sale committee at Elias Green Condominium will start collecting signatures on 12 May 2018. It is likely that they will reach the required 80 per cent consent as 83 per cent of the owners have already paid up fees for lawyers and property valuation.
Despite the condominium’s large size and proximity to amenities like Changi Airport and Pasir Ris Park, and the lack of new supply in the vicinity, analysts commented that the asking price of Elias Green may turn off some potential developers.