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Yanlord-Hongkong Land JV wins Tulip Garden en bloc sale with $907 mil bid

Property

Yanlord-Hongkong Land JV wins Tulip Garden en bloc sale with $907 mil bid

Stanislaus Jude Chan Published on Thu, Apr 12, 2018 / 6:32 PM GMT+8

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SINGAPORE (Apr 12): Asia Radiant, a joint venture entity between Yanlord Land Group and Hongkong Land Holdings’ MCL Land, has won the tender for the en bloc sale of Tulip Garden with a bid of $906.9 million.

The winning bid is approximately 20% above Tulip Garden’s reserve price of $753 million when it was put up for sale by tender in late February.

This was the fourth collective sale attempt by the owners of the 33-year-old property.

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