The Avenir has been acquired with a tripartite joint consisting of GuocoLand (Singapore), Hong Realty, and Intrepid Investments. The collective sale at S$980 million is one of many largest sales within the last decade. The tender for your website attracted interest from a small number of foreign and local developers. It’s high sale price I even higher compared to reserve price of S$938 million by as much as 4.5%. GuocoLand and Intrepid Investments holds 40% stake each and Hong Realty holds 20% interest. Hong Leong Investment Holdings (HLIH) owns major shares in both Hong Realty and Intrepid Investments. The development features about 290 apartments and 2 commercial units. The sale uses 80% of the owners consented the en bloc sale. Owners of the units at The Avenir will receive between $3.36 and $3.48 million as proceeds from the sale. All the shop units is going to be awarded between $2.2 million and $4.5 million. With an existing gross floor part of around 493,222 sq ft, The Avenir price means S$1,987 psf ppr. Adding the 10% extra balcony gross floor area, its max allowable GFA is 542,544 sq ft which reflects around S$1,806 psf ppr. Being home situated in the centre of district 9, The Avenir enjoys a strategic location that’s near to various amenities. It is both near Orchard Road shopping belt, the central business district and the future Great World City MRT station. Evaluation from consultants implies that the land cost for The Avenir may have a breakeven price ranging between $2,530 and $2,800 psf ppr having an anticipated selling price of $3,000 to $3,200 psf.